It never ceases to amaze how political leaders can shamelessly blame free markets and faceless speculators for the consequences of their lousy financial decisions.
Traders telling me that Citigroup will be pricing its preferred offering, $25 par, at a yield of 8.875 percent. Size is roughly $2 billion; one trader said it was “multiple times oversubscribed.”
Select financials moved midday: Citi up 7 percent, Fannie Mae up 13 percent, Freddie Mac up 16 percent, AIG up 16 percent. The one thing they all have in common: big government ownership of their shares. I have heard vague rumors that the government may attempt to restrict short selling in names that they own. This makes little sense, since the government has already had a poor experience with restricting short sales in financials....
Modest rally at the open, as United Airlines' (parent company: UAL) CFO said corporate travelers were starting to return, and that unit revenue growth (revenues for each passenger mile) jumped 17 percent in February, outpacing that of its rivals.
I do believe that this great stock market rally over the past year — the S&P 500 is up 68 percent and economy-sensitive small-caps are up 95 percent — is in part telling us that political regime change is coming our way this November.
The Fed has made a lot of noise about the unconventional methods Bernanke and company will use to withdraw the vast stimulus that has been pushed into the system.
Economists at Independent Strategy have come to the conclusion that stimulus spending has been a complete waste of time
Greek Prime Minister George Papandreou is due to meet President Barack Obama. Greece is briefing the Obama administration on reforms and discussing global financial regulation.
The Mad Money host can’t understand why people are sitting out this generational bull market.
Dividends: the tide has turned; more increases are coming. February is traditionally the month with the largest number of dividend increases, and it did not disappoint. Forty-seven companies increased their dividend last month (nearly 10 percent of the S&P 500). That is the best in two years and about twice the average of the last seven years...
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Seems slow, but there is underlying strength here. New highs in the Nasdaq, mid-cap, and small-cap indices. More optimism on Europe. More optimism on Europe. As we move into the anniversary of the March 2009 low, Lowry — the oldest technical analysis service — reminds us that, despite the better than 60 percent advance in the S&P 500 from the lows, there is "none of the signs usually associated with a maturing or aging advance."
In this commentary I will explain why I’m cautious; how I could be wrong; what’s at stake for me and my clients; and how we’re invested.
President Barack Obama accused insurance companies of placing profits over people and said Republicans ignored long-festering problems when they held power as he sought to build support Monday for swift passage of legislation stalled in Congress.
In a recent trip to Washington, D.C., I talked with several high-level sources about this and other issues facing Washington and Wall Street, and I believe it is unlikely that the Volcker rule as initially proposed will make it into law.
The formerly obscure Fed board has, if not quite the visibility of the Supreme Court, the burden of being under greater scrutiny than at any time in nearly 30 years.
Stocks are up modestly in the U.S. and Europe on word that EU members were crafting a support program for Greece (Greece has rallied some 13 percent since bottoming on February 25), and that Dubai World is (finally) in discussions on restructuring $22 billion of debt. They could put the restructuring plan to creditors this week. They've been waiting...since November.
We’re not gonna get a barnburner recovery such as we saw in 1983-84 when Reagan slashed tax rates. Obviously not, since Obama’s Washington is moving in an anti-supply-side direction.
There’s a lot of loose talk on Wall Street right now about the risk of a double-dip recession. I’m not buying it.
S&P futures popped about 5 points as nonfarm payrolls came in slightly better than expected (loss of 36,000 jobs vs. loss of 68,000 expected). Greece is up for the fifth out of the last six days, despite protests in the streets. Premier Wen Jiabao of China pledged to crack down on property speculation. (Good luck on that.)