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Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn that the tremors would take time to settle, and the European Central Bank was inundated with demand at a new money market tender.
Stoked by positive developments on the credit and mortgage front, stocks are building on yesterday's gains and look ready to spring higher on the open.
U.S. retailers are still sweating through the back-to-school shopping season, but an early chill has already crept into their prospects for the all-important holiday season.
Quality Home Loans, a subprime mortgage lender, has filed for Chapter 11 bankruptcy, joining at least a dozen other home loan providers to seek court protection this year as the U.S. housing market slumped.
A global credit squeeze has most economists convinced the Federal Reserve will come to the rescue and cut interest rates next month, a Reuters poll showed on Wednesday.
H&R Block said on Wednesday its Block Financial unit tapped working capital credit lines twice as a skittish market cuts off its access to short-term debt financing.
Wall Street prepares for lift off on the opening amid calmer credit markets, higher world stock markets and some merger news. European stock markets are comfortably higher, and Asia closed higher though Japan stocks were flat on the rising yen.
Something important happened in the stock market today--nothing. For the first time in almost a month, stocks were not buffeted by anxieties about credit issues, or by volatility in the bond market, or by extremes in volatility, or even by attempts to sell off financial stocks on any rally.
U.S. Treasury Secretary Henry Paulson may say the fundamentals of the economy are sound, but Cramer isn't buying it.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Recent market turmoil only warrants a change in interest rates by the U.S. central bank if it hits the outlook for inflation or growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Tuesday, noting that price pressures remain a worry.
Senate Finance Committee Chairman Christopher Dodd told CNBC he asked the Bush administration to lift the portfolio caps on housing finance giants Fannie Mae and Freddie Mac, but Treasury Secretary Henry Paulson expressed reluctance to do so.
The U.S. Federal Reserve took several more steps Tuesday to add to the liquidity of the banking system.
Stock traders will be looking over their shoulders at the credit markets as a furious flight to quality into Treasuries keeps the pressure on stocks prices. For now, stock futures are higher and look set for a firmer opening.
Senate Banking Chairman Christopher Dodd told CNBC he believes the Federal Reserve was lax in its responsibilities by not preventing the surge of subprime mortgage loans. Dodd also said he will meet with Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson on Tuesday morning.
Beneath a fairly quiet August day with unexceptional volume, the markets continued to reveal an underlying nervousness.
Thornburg Mortgage's president Larry Goldstone told CNBC Monday that there is still a crisis of investor confidence in the mortgage market but that the residential mortgage lender expects to be profitable.
Wall Street is set for a higher open after world stock markets rebounded in a Fed-inspired relief rally. Tokyo stocks were up 3%, the biggest gain in more than a year, in its first trading day since the Fed move. European stock markets, up sharply Friday, continue to rise this morning.
Global investors will likely remain wary this week as uncertainty about the credit crisis persists, even after the U.S. Federal Reserve in a rare move on Friday slashed the rate it charges banks on loans and encouraged more borrowing.
Cramer was right: In order to save the market from a devastating credit crunch, Bernanke and company had to cut the discount rate. Today, that is what happened.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Presidential candidate Sen. John McCain (R-Ariz.) joined CNBC's Larry Kudlow on "Kudlow & Co." to discuss the economic strategy he would pursue if he were elected America's commander-in-chief in 2008.