Stocks bounced back from a lower open Tuesday as a broker upgrade on Apple buoyed the Nasdaq. Getting the market off to a jittery start after the three-day weekend, the decline in housing prices showed no signs of letting up and there were reports of another missile launch by North Korea.
Stocks jumped sharply higher following the biggest gain in consumer confidence in 6 years. May consumer confidence of 54.9 rose significantly compared to last month’s reading of 40.8 and topped economists’ estimates of 42.6. The latest reading was the indicator’s highest level in eight months.
Look for sweeping legislation covering everything from consumer protection to executive compensation to more hedge fund supervision and the creation of a super regulator.
After 5 days of declines last week for its worst week this year, the U.S. Dollar Index is rebounding modestly today. Concurrently, commodities are giving back 1 percent to 2 percent of last week’s solid gains, while commodity stocks are slightly weaker in pre-market trading.
After a long Memorial Day weekend, futures indicated a negative open for Wall Street Tuesday as reports that North Korea launched missiles caused alarm.
Four months into President Obama's administration and three months after he created the Auto Task Force to find a solution for an imploding auto industry, people are mad at the President.
Stocks moved sideways on light trading today.The President signed the credit card bill this afternoon. Remember the key provisions: 1) Takes effect in 9 months 2) Card companies can't raise interest rates until the balance is sixty days overdue 3) Increases in interest rates due to non-payment can be reversed after six consecutive months of on-time payments.
Plus, get calls on US Steel, Bank of America, Sears Holdings and more.
Within two weeks expect to see GM in bankruptcy. And when the company files, whether it's late next week or Monday June 1st, the road map for a quick creation of a newer, leaner GM will be laid out for the Federal Government to follow. It's the Chrysler bankruptcy which has gone about as smoothly as the auto task force was hoping.
According to the Washington Post, the U.S. is preparing to steer GM into bankruptcy next week, but other sources say they have no plan to do so-next week.
The credit-card overhaul that President Obama will sign into law Friday is expected to trigger a broad restructuring of how credit cards are priced, managed and marketed.
Who said most defense stocks don’t work under this president? Well, Cramer did, but this company has proved him wrong.
The credit card reform bill, which passed through Congress Wednesday and is expected to be signed into law by President Barack Obama Friday, will serve as a "warning light" to credit card companies that they can no longer take advantage of consumers, Rep. Paul Kanjorski, D—Pa., said.
How do you define "free market". Yesterday, I argued the "free market" should determine if cars and trucks are powered by diesel fuel or by the conventional gasoline most vehicles currently use. This baffled some of you.
When President Obama announced his deal to rescue Chrysler, he bludgeoned hedge funds holding senior Chrysler debt as mere "speculators" seeking a government "bailout." Within weeks, the hedge funds buckled under the withering attack from the White House bully pulpit and threw in the towel, writes Tony Fratto former Deputy Assistant to the President and Deputy Press Secretary for the Bush Administration.
The head of the Securities and Exchange Commission is objecting to a plan being considered by the Obama administration to create a new financial watchdog to protect consumers.
The bill is expected to be signed into law by the President in the next few days.
Stocks are off their highs but a global commodity rally sucks in more buyers on weaker dollar, China stimulus, less fear; S&P 500 approaches May highs.
We all know that the biggest barrier to meaningful recovery in the housing market is the glut of foreclosed inventory on the markets. So finally some good news. A new survey from online real estate sale sites Trulia.com and RealtyTrac.com shows increased buyer interest in foreclosed properties.
Over the last two days, as I've blogged about new fuel efficiency rules President Obama laid out at the White House, I've been struck by the opposition to these changes.