The euro has remained stubbornly strong amid a slew of obstacles, and some analysts said the European Central Bank has kept it higher.» Read More
Plus, Cramer makes the call on steels, coal and more.
I do like to kid Treasury Secretary Geithner, but in reality I think he has done a credible job under very difficult circumstances.
As General Motors prepares to celebrate its 100th anniversary and faces possible bankruptcy, here are some key events in the giant automaker's history:
President Obama couldn't let General Motors fail, but he won't concede he's taking over the company.
There is a tidal wave of government bonds coming to market the next few years. Estimates are for $2 trillion a year for at least the next two years. So on the one side of the pit over which a good tug of war is waged is the Treasury offering a ton of bonds for sale. On the other side is the Federal Reserve offering to buy $300 billion of that debt in the hope that it will keep interest rates down. Doesn't sound like a fair fight.
The trend for stocks is higher, yet gains in June may be harder to come by unless economic data perks up.
Stocks capped a winning month with a 1-percent rally Friday as traders squeezed in a few last-minute trades to close out the month of May. Investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell ended higher after beating its earnings target. GM ended at 75 cents a share.
Get ready folks: America is about to own a car company. As of Monday, we the taxpayers will own more than 70 percent of GM. Whether the company will be formally renamed Government Motors remains to be seen. But that’s what it will be.
Stocks made another break higher Friday as investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
The government bailout of General Motors includes a valuable prize for the ailing carmaker: a tax break that could save GM and its future investors more than $12 billion.
Stocks wobbled Friday as investors were encouraged by a jump in consumer sentiment less-bad GDP report but still remained a bit jittery. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
Stock index futures indicated a higher open for Wall Street Friday after the latest GDP report showed the economic decline began to slow in the first quarter.
Stocks ended higher Thursday as crude prices climbed after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt.
Stocks rebounded Thursday as crude prices climbed after inventories were pared more than expected. Stocks had gotten off to a wobbly start as investors juggled a bleak report on new-home sales with any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
The point is that the $787 billion stimulus spending plan is creating major strains as it contributes to $3.25 trillion in debt issuance by the US government for this year. In turn, this is forcing up interest rates on the long end of the yield curve. Most importantly, these higher rates will be increasing the cost of interest to the US government and increasing the budget deficit.
Stocks retreated Thursday, after a higher open, as bleak report on new-home sales overshadowed any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
Stocks opened higher Thursday after an unexpected drop in initial jobless claims.
Futures held onto gains Thursday after an unexpected drop in initial jobless claims. However, the gains were muted as Dow component P&G slashed its outlook.
Stocks finished near session lows Wednesday as rising bond yields on government debt raised concern that borrowing costs are going to start going up and tamp down the economic recovery.
The Obama administration continues to try to facilitate a long-shot debt-reduction agreement with reluctant General Motors bondholders despite a bankruptcy deadline.