The recent spate of bad news has been just that, with no effective relief from the U.S. central bank or any of its global counterparts.» Read More
Selling in the financial sector bit into Tuesday's stock market performance and could do the same Wednesday. After the bell Tuesday, Fannie Mae announced that it was issuing $7 billion in preferred stock and chopping its dividend by 30 percent.
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
U.S. chief executives' view of the economy improved in the fourth quarter, although they have become far more concerned about energy prices.
Federal Reserve Bank of San Francisco President Janet Yellen said on Monday that worsening financial conditions and weaker-than-expected economic data have raised downside risks to the economic outlook.
Financial market anxiety has rebounded and the process of rebuilding confidence will be "long and slow," a top U.S. Treasury official said on Tuesday.
The Federal Reserve will cut interest rates by a full percentage point before June to help the housing market, Citigroup's chief economist, Lewis Alexander, said.
Stocks closed mostly higher on expectations that the Federal Reserve will cut interest rates and the U.S. government will help homeowners recover from the subprime mortgage crisis.
Stocks, particularly financials, rose today for the fourth day in a row. Is this the bottom of the market? It's not clear, but the signs are more auspicious than they have been in a while. consider: 1--economic news this week, for the most part, has been poor, giving the Fed cover to lower rates.
Economists say the Fed is almost certain to lower interest rates Dec. 11, but key economic data in the week to come will determine if its a quarter point or half a point.
The U.S. economy is continuing to show weakness in everything from personal spending and income to construction spending, according to several reports out Friday
Banks and mortgage companies have been rallying today on the positive comments from Ben Bernanke and word that Treasury Secretary Paulson has been meeting with loan servicing companies and other executives in the mortgage industry to work out a plan that would extend lower, introductory interest rates on home loans before they reset at higher levels.
Traders got what they wanted: 1) Bernanke sounded like Don Kohn, and 2) Paulson is taking the reigns and indicating he is trying to stop the subprime crises from spreading. 1) Bernanke: In his speech last night, Bernanke made it clear he was worried about the direction of the economy.
Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.
Ben Bernanke's speech Thursday night may dictate the market’s direction Friday. What do you need to know before you trade?
Softer-than-expected new-home sales and a surge in jobless claims heightened fears of a steep U.S. economic slide.
The White House lowered its U.S. economic growth forecast for 2008 Thursday because of trouble in the housing and credit markets, but said the economy remained resilient and a six-year expansion would continue
The U.S. economy grew at a robust 4.9% rate in the third quarter, but a surge in jobless claims last week signaled a major slowdown in the fourth quarter.
The bad news that was scaring the markets has, for now, become the good news. Remember Monday. Things were dire. The major stock indexes were in a tailspin, sinking to a level 10% from October's highs, technically a correction. But that's all changed, and in part it's because the markets are now convinced the Fed recognizes what ails it.
Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
The Fed's No. 2 official signaled a willingness to cut interest rates further, saying renewed financial market turmoil could slow the economy more than thought.