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Broker-dealer Keefe, Bruyette & Woods upgraded Bank of American to "outperform" Thursday and also boosted its price target on the stock to $16.50 from $12, Reuters reported.
The price of a barrel of oil rose to a near eight-month high above $72 Thursday, giving investors and consumers alike a stark reminder of last summer’s unprecedented surge to more than $147.
May's retail sales data and weekly unemployment claims could sway markets ahead of Thursday's open, but trading will revolve once more around the Treasury's afternoon auction.
Stocks declined, but ended well off their intraday lows on Wednesday after the 10-year Treasury auction, which had a much higher yield than expected. Stocks had opened higher after Home Depot raised its outlook, but those gains quickly faded as the jump in oil prices and sharp rise of lending rates spurred worries about key components of the economic recovery. Read and listen to what experts had to say…
Jim Iuorio, director at TJM Institutional Services, and David Lutz, managing director at Stifel Nicolaus Capital Markets, weighed in on the best places to invest now.
The new General Motors may surprise people on the upside when the company emerges out of bankruptcy, said Roger Altman, former deputy treasury secretary and chairman of Evercore Capital Partners.
The market is way ahead of itself and it is time to sell into the rally, said Peter Costa, president of Empire Executions, and Dave Rovelli, managing director at Canaccord Adams.
After enjoying a three-month ride off the March lows, Wall Street is now bracing for payback time—a mild retreat that many experts actually think would be healthy.
Billionaire casino owner Sheldon Adelson (like “Saddle”) celebrated the grand opening of another casino yesterday. Not in Vegas but Bethlehem. Yes you’re reading this correctly, Bethlehem, Pennsylvania’s “Sands Casino Resort.”
Mike Rubino, president of Rubino Financial, and Harry Clark, president and CEO of Clark Capital Management Group, shared their market strategies and investment recommendations in a bulls vs. bears discussion.
Stocks dropped as soon as the results of the 10-year auction were announced. The yield of 3.99 percent was at the high end of expectations.
Since bottoming in February at $33/barrel, oil prices have posted a rapid and astounding recovery and are suddenly back above $70 again.
Stocks opened higher on Wednesday as oil prices jumped above $71 and Home Depot raised its outlook. Banks opened mixed as the market digested news that some of the largest institutions would be repaying government bailout money. Some investors worried that the 10 banks returning TARP money could be doing so too soon and might need further injections later. Read and listen to what experts had to say…
We’re likely going to get a market correction, said Rob Morgan, market strategist at Clermont Wealth Strategies and Sam Stovall, chief investment strategist at Standard & Poor’s.
China stimulus trumps U.S. stimulus. Although the dollar is comparatively flat, we continue to have a global commodity rally--oil, copper, aluminum and other commodities are at or near their highs for the year.
Sequenom fell by 75 percent overnight in late April after it revealed that some employees had mishandled data and results for its Down syndrome test. The genetic-analysis company fell as low as $2.86 after that debacle, but yesterday its stock rallied back 58 percent.
The bond market could call the tune for stocks Wednesday. Stocks have done little more than drift this week on low volume. The market edged higher Tuesday, while a slumping dollar drove up commodities prices.
Investors should look toward Wednesday's crude inventories to see if the oil rally will continue.
Today's top business and financial stories including details on the 10 banks that will repay TARP and a look forward to tomorrow's big news on Closing Bell.
The recent market rally and signs of green shoots in the economy has increased investors’ appetite for riskier asset classes.