CNBC's Tyler Mathisen looks back at the week's top business and financial stories. A shortened trading week, this week, as Easter is on Sunday. The week ended positive after Janet Yellen reassured investors. Low rates could be around another two years, she said.» Read More
Major European stock indexes closed more than 3 percent higher on Tuesday ahead of the Federal Reserve's interest-rate-setting meeting, and after U.S. banks Goldman Sachs and Lehman Brothers reported earnings that beat markets expectations.
Black gold and gold futures are significantly higher after yesterday's rout. Here's what the energy market seems to think will happen: The Fed will cut rates by 75 basis points (maybe even 100, a few think it could be 50). If the cut is as massive as some suspect, the dollar will weaken even further against the Euro and other currencies.
I’m working on a story for TV today about which builders are in the deepest doo-doo after the Commerce Dept. reports single family permits down 6.2 percent in January. Permits are down 30 percent since the August credit freeze and down 57 percent from their peak in September of 2005.
U.S. Treasury Secretary Henry Paulson said on Tuesday the U.S. economy had turned down sharply but declined to label the situation a recession.
Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
Stocks opened higher Tuesday as investors are anticipating that the Federal Reserve will deliver an unusually large rate cut.
As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
European Central Bank Executive Board members stressed on Tuesday the role of the ECB as a guardian of price stability, giving the strong euro only scant mention.
British inflation leapt further above target to a nine-month high in February but the jump was purely due to changes in the way utility bills are calculated, official data showed on Tuesday.
Australia's central bank was still concerned that interest rates might not be high enough to restrain inflation when it hiked rates to a 12-year high earlier this month, minutes of the policy meeting showed on Tuesday.
Enthusiasm for the Federal Reserve's actions to stem the credit crunch propelled the Dow Jones Industrial Average to a higher close Monday, a day when everyone expected a rout due to weekend fire sale of Bear Stearns.
The Dow Jones Industrial Average pared its losses Monday as the sell-off spurred by the fire sale of Bear Stearns wasn't as bad as expected.
Lehman shares tumbled more than 20 percent Monday as Wall Street speculated whether or not it's the ailing banking system's next casualty.
They both relied on the credit markets working properly, and they were both let down. Northern Rock may have been the first, but Bear Stearns sparked fears that the worst is yet to come.
Stocks were lower in early trading Monday as Wall Street digested the fire-sale buyout of an investment banking giant: Bear Stearns. CNBC brought the market pros for their perspective on the fallout.
Stocks plunged at the opening bell Monday as investors were spooked by the cash crisis at Bear Stearns that forced its sale for $2 a share to JP Morgan Chase.
The combination rescue-fire sale package of Bear Stearns happened so quickly and involves so much unknowns about its balance sheet, analysts struggled to put its role in the credit crunch into perspective.
You have to ask the question: can the up-‘til-now untouchable Manhattan real estate market survive under the weight of Wall Street’s banking implosion? With all those Bear Stearns folks suddenly seeing their stock-based bonuses disintegrate into nothing and credit and capital fleeing the building at an alarming rate, are those priciest of pricey pads going to be able to hold their value?
The U.S. Federal Reserve announced emergency measures to stem a fast-spreading global financial crisis, tapping tools last used in the Great Depression to pour funds into cash-starved Wall Street firms.