Friday the 13th proved lucky for global stocks as the spent the day in the green. Financials lead the gains on news of a US subsidy plan for mortgage payments. The improved mood among investors comes ahead of this weekend's G7 meeting of financial leaders.
Wall Street, the media, investors – they can try to explain Thursday’s action, but Cramer won’t believe any of them.
Three hats off to Judd Gregg for withdrawing his nomination for commerce secretary. And I mean three hats. I’ve never seen anything like this.
The entire market rallied an hour before the market closed due to a Reuters story that the Obama administration was working on a program to subsidize mortgage payments for troubled homeowners.
It takes real intelligence and discipline to succinctly express something worthwhile. Brevity is not only the soul of wit, it’s the key to communicating something memorable that really sticks.
Economic stimulus at the heart of President Barack Obama's recovery plan is on track for final votes Friday in the House and Senate after a dizzying final round of bargaining...
US lawmakers prepared Thursday to pass a $789 billion stimulus package to revive the struggling economy in a victory for President Barack Obama that some warned may have costly consequences.
Lawmakers on Wednesday urged Treasury Secretary Timothy Geithner to provide more details on how much taxpayer money the Obama administration's bank rescue plan ultimately will cost.
The Treasury Department will soon release documents providing information about the lending activities of the biggest 20 financial firms receiving government aid under the controversial program.
Timothy Geithner's debut performance as the new Treasury secretary got him booed offstage yesterday by Wall Street traders. Not for what he said but for all the things he needed to say—and didn't.
Banking leaders who benefited from a federal bailout are bringing a message of accommodation and gratitude to Congress, hoping for a better reception than the one given Treasury Secretary Timothy Geithner.
Lassie was a gorgeous Collie that was Timmy's constant companion. Trouble would befall Timmy in the first half of the show and Lassie would spend the second half saving him. Well, Timmy Geithner is on his own and there ain't no rescue coming.
Futures are essentially flat this morning, but don't kid yourself. Every comment from traders I have received this morning sings the same song: we must get government policy sorted out in the next few weeks, or the market will make new lows.
Geithner would have been better off not giving a speech until he could put real meat on the bones. What he pulled Tuesday was a classic rookie move that will further erode the public’s trust in his capabilities.
US stocks fell sharply Tuesday, led by banks, as details of the government’s latest bank bailout plan trickled out.
I just got finished speaking with Paul Otellini, Intel's CEO, about his company's massive expansion plans, announced earlier today, and he tells me while his news wasn't enough to turn red ink into black on Wall Street, it did bring a smile to the face of at least one person.
"I'm really underwhelmed by the plan," says one market pro. "Maybe there's not much that can be done right now other than let this work itself out."
Critics say the financial-aid plan doesn't offer a convincing strategy on toxic assets and leaves funding unclear.
Secretary Geithner gave his long-awaited speech, speaking of the need to fund new buying of asset-backed securities, of helping private equity purchase old assets through a public/private investment fund, of foreclosure mitigation, and a new capital infusion into banks that pass a "stress test."
The "higher risk" trade is unwinding. In the last week, there has been a simple trade: lighten up on defensive positions, take on more risk.