The Financial Accounting Standards Board has voted to relax the fair-value accounting rules - allowing banks to mark securities to a model rather than to market prices, according to reports.
Stocks closed higher as some mildly optimistic economic news helped Wall Street begin the second quarter on a positive note.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S. automakers.
Though housing still faces major headwinds, including foreclosures and unemployment, a number of positive forces may finally be enough to form a market bottom.
Auto industry legends weigh in on President Obama’s push for the right solution.
A strong mid-morning rally. While ISM a tad better than expected helped at 10 AM ET, and pending home sales were also "less worse" than expected, don't kid yourself.
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
The House is set to pass legislation that would for the first time give the Food and Drug Administration the authority to regulate cigarettes and other tobacco products.
U.S. President Barack Obama said on Wednesday there was "enormous consensus" between the world's largest developed and emerging economies on plans to haul the world out of the deepest downturn since the 1930s.
The economy is headed for a “very long and damaging economic downturn” that will not see any recovery in 2009, said Harvard University professor Martin feldstein on Wednesday.
Did anyone notice how grumpy all the financial CEOs looked after meeting with President Obama last Friday? The meeting must have been quite unpleasant as the Obama administration is informing these private sector giants that they need to change the way they are running their business.
Why should we pay attention to four-and-a-half hours of debate followed by highly choreographed photo ops and a communiqué that most of us could have cobbled together on the back of a swanky hotel envelope?
Late evening reports that President Obama has concluded bankruptcy for GM is the most likely course of action (apparently leaked by Congressional members) was no surprise to most traders in GM and analysts, who had come to that conclusion on Monday.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse Two extraneous issues have wormed their way into the G-20 Economic Summit agenda this week. Neither have anything to do with the present financial crisis, but a lot to do with domestic and international politics.
US stock index futures pointed to a lower open for Wall Street after economic news showed steepening pressure in the jobs market.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
Stocks closed out a tough quarter on a positive note, helped by gains in technology and big banks.
What's next? With the end of the quarter, two events are on the minds of traders: 1) the Financial Accounting Standards Board (FASB) meets on mark-to-market Thursday. And: 2) earnings guidance. Alcoa kicks off earnings season this Monday. Everyone believes that guidance will be downbeat and generally below expectations.
The Fed's efforts to push down mortgage rates have raised expectations about a housing recovery, but it may take months to have any impact—and the results may not all be positive.
President Barack Obama ordered General Motors and Chrysler to accelerate their survival efforts and brace for possible bankruptcy, saying neither company had done enough to justify the taxpayer money they were seeking.