Usually a sovereign default is negative for a country's markets, but Argentina's markets have rallied to 20-year highs despite the overhanging threat.» Read More
Stocks ended broadly higher as investors were hopeful the Federal Reserve will lower interest rates next month. "You had more people positive today that the Fed is going to cut rates," said Todd Leone, head of listed trading at Cowen & Co. "A lack of bad news is really the main thing moving the markets today -- as long as you don't hear anything negative, the market does OK."
The subprime mortgage crisis is spreading to a somewhat unexpected place: homes costing more than $500,000.
Deutsche Bank Americas Chief Executive Seth Waugh said Tuesday that the difficulties in credit markets are beginning to end, but risk is still being repriced and more bad news may emerge.
Merrill Lynch threw cold water on the financial sector Tuesday by downgrading Bear Stears, Citigroup and Lehman, citing their exposure to problems in the credit markets. The three were downgraded to "neutral" from "buy," which helped pushed financial stocks lower.
Indian companies that process U.S. mortgages are reporting fewer work orders and diminishing revenue because of the subprime loan fallout overseas.
Bhaviesh and Varsha Shah bought their dream home in a new development east of Los Angeles two years ago, planted flowers around an emerald lawn and picked out wicker furniture for sitting outside on cool afternoons.
Stocks ended higher at the end of a quiet week of trading, as investors were encouraged by further moves by the Federal Reserve and a vote of confidence for the nation's largest mortgage lender. The Dow Jones Industrial Average posted a weekly gain of 1.8%, the S&P 500 rose 1.7% and the Nasdaq Composite advanced 2.1%.
Sales of new U.S. homes unexpectedly rose 2.8 percent to an 870,000 annual sales pacein July, reversing two months of declines, and inventories eased, a Commerce Department report showed on Friday. Despite the surprising strength, some economists said the housing outlook remains grim.
The owners of stricken state lender SachsenLB aim to sell the German bank quickly after its near collapse under heavy losses from U.S. subprime mortgages and other risky debt, sources familiar with the matter said.
Stocks futures are meandering on both sides of the unchanged mark after stronger-than-expected durable goods orders and investors now await new home sales data due at 10 am New York time.
Cramer offers up two stocks that he said are a couple of the best ways to play the credit crunch.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.
The unofficial transcript of a CNBC exclusive interview with Countrywide CEO Angelo Mozilo on CNBC's "The Call."
A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.
Even if the Federal Reserve cuts rates, consumers are still going to be spending less. Guess where they will go looking first for cheaper goods.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.
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.