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The battered stock market is due for a “flash-fire” rally which could match the stellar recovery-run put in place after the crash of 1987 finally bottomed, Bill Spiropoulos, market strategist from CoreStates Capital Advisors, told CNBC.
The yen rose toward a 13-1/2 year high against the dollar and a seven-year peak versus the euro on Thursday. While the sterling fell again against the greenback, nearing $1.3618, its lowest since September 1985.
Global stocks bounced back from 7-week lows Thursday, following an overnight recovery in the US stock market on the back of strong earnings reports from Apple and IBM. Experts tell CNBC they see investment potential in the energy and tech sectors, as well as in various parts of Asia.
A wash of earnings news and weekly jobless claims will help decide the market's course Thursday, but there's a good chance there will be follow through to Wednesday's rally.
New reports that home builder Toll Brothers announced they were offering a 30-year fixed rate mortgage for 3.99 percent, a full percentage point below the current rate.
Predictably, it was led by financials. The Bank Index rallied 12 percent after dropping 19.7 percent yesterday.
The markets have stabilized as bank stocks have stabilized. Of some help is PNC, which is generating a few raised eyebrows on trading desks. Recall they dropped 41 percent yesterday and is up 21 percent today (no one even blinks at these price swings any more).
The S&P and the Dow are moving in lock-step with the large swings in bank stocks this morning. Elsewhere, the weakness in the construction industry is clearly showing up in fourth quarter earnings reports.
Now is a good time to be investing in U.S. stocks over a longer-term horizon, John Haynes, equity strategist at Rensburg Sheppards told CNBC Tuesday.
While guidance from financials is generally downbeat again, there are a few outliers reporting good results outside of the banks.
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Global stocks were down again Wednesday on continued signs of trouble in the financial sector. Experts tell CNBC that there is more bad news to come.
The ailing banking system is at the top of the Obama Administration's agenda Wednesday, after worries about the sector Tuesday handed the stock market its worse Inauguration Day losses ever.
The S&P 500 will likely head back down toward its recent lows before the end of January where it will form a base, but it’s not time to buy the index yet, Chris Locke, MD of Oystertrade.com Management, told CNBC Wednesday.
Global stocks, as well as oil, were down again Wednesday, as the reality of a longer-than-expected economic downturn weighed on investors. Experts tell CNBC where are good places to invest during these tough times.
NOT SEEN ON T.V.: With over $1 trillion in 401(k) wealth lost, now may be a once-in-a-lifetime opportunity to be adding to your savings.
IBM pleasantly surprised everyone and is up 4 percent after the bell on strong earnings, guidance.
The message of the markets has been clear since the open: without stability in financials it will be difficult for the broad market to stabilize. We are again on the verge of a 90 percent downside day, the second since last Wednesday, which is when the Bank Index broke to new lows.
The Street believes that "good bank/bad bank" is inevitable. The horrible performance of the banks today indicates that the TARP, so far, is not working and some other approach needs to be taken.
Stocks are due for an oversold bounce. Where is it? Bears--which are pretty much everybody on the Street these days--point to one culprit: financials and the lack of stability.