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Stocks snapped a three-day winning streak Monday as traders cashed in some of their chips from last week's rally following some dismal reports on the telecom and financial sectors.
In a pleasant surprise, Team Obama is adding a series of business tax cuts to their overall stimulus package. News reports suggest that personal tax credits along with the new business tax cuts will comprise roughly 40 percent of the estimated $750 billion package.
Stocks turned mixed Monday, the second day of trading in the new year, as a construction report came in much better than expected, as did U.S. auto sales. Stocks started off the day sharply lower as investors cashed in some of their chips after last week's rally that pushed the Dow up more than 6 percent and past the key 9,000 mark.
Stocks declined Monday, the second day of trading in the new year, after a rally last week that pushed the Dow up more than 6 percent and past the key 9,000 mark. A report that showed construction spending fell by half of what was expected helped shave some of the loss.
Government actions will be the key influence in how the economy acts in 2009, Pimco co-CEO Mohamed El-Erian told CNBC.
Wall Street looked set to open lower in the second day of trading of the year after Friday's rebound, with investors expected to take some profits following the Dow's rise to more than 9,000.
Wall Street hopes to continue Friday's rally into the first week of the new year after the Dow closed above 9,000 for the first time in two months. Traders expect more money to be put back to work as investors shop for bargains.
I've made my predictions for 2009, so It only seems appropriate to look back at the predictions I made a year ago. The world has been transformed by the financial crisis over the past year, so I have to say I'm pleasantly surprised by how much I actually got right, and how much continues to seem to be true.
If you haven’t been able to tell by now, I like to write. Look no further than my three books for proof. I seek to raise awareness of important issues, always trying to strike themes that investors can act on. I do this from a macro perspective, from the top-down — the subject of my latest book, Investing from the Top Down. Here are my top 10 'Top-Down' investing themes for 2009.
A defiant Gov. Rod Blagojevich on Tuesday named a black political trailblazer to Barack Obama's Senate seat, a surprise move that put the governor's opponents in the uncomfortable position of trying to block his choice from becoming the Senate's only black member.
The New York Times recapps some of the high and low points in advertising in 2009.
The market might be slow right now, but are we on the brink of an Obama rally.
Some traders are still holding out hope that a Santa rally will sweep stocks higher in the final week of the year, though there is no expectation that volume will improve until January. They also caution that a new round of hedge fund redemptions could pound the markets early in the year, dampening any January buying.
The big questions for the coming year are how long and deep will the recession be and how it will compare to those of the past.
Vice-President elect Joe Biden had a strange press conference today where he spoke about the Obama stimulus plan. Larry Summers also spoke. Nothing new was said, but it was all very gloom and doom on the economy.
Not only do they hurt the market, but they're virtually useless to their investors.
The Dow Jones Industrial Average and S&P 500 will rebound in the first quarter of next year as incoming President Barack Obama is likely to boost investor sentiment, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.
The president-elect's spending strategy wasn't as big as we'd hoped. So what should investors do now?
What if the U.S. had a strategic reserve so large that our president could lower the price per barrel at will? Here's how we do it.
For a while there, it really looked like high oil prices would solve the problem of climate change. People were driving less and buying cars with better gas mileage, companies were investing in alternatives