Henry Dixon, fund manager at GLG, says he is very confident on the valuations of European banks - and in particular U.K. banks ¿ over the next 12-18 months.» Read More
There's a lot of debate about whether stocks have hit bottom or whether those up days were all just a head fake rally. Today's action makes you wonder. The financials, acting better on up days, are the worst performers today, and those safe haven utilities are the best performers.
The biggest problem the market has is the choppy economic data we have been getting, which is muting investor enthusiasm despite the Fed cuts. But there are definite positive developments, including: 1) we appear to have put in a short-term bottom; 2) market up on Friday on very bad jobs report a good sign; 3) Microsoft offer for Yahoo.
We had it all this morning, the bear case, the bull case and the sell into the rally story. For retail investors looking for guidance from the professionals these are frustrating times.
The retailers, financials, and home builders are leading the market down. Again. These groups have outperformed because of the short covering in the past two weeks; that bid may now be fading. But China? Lots to report.
Floor traders are in a great mood after the Giants win! President Bush acknowledging a weaker economy will lead to higher deficits. Looking for budget deficit to double to $410 billion. What's up with China? Shanghai Composite up 8% overnight. And: Airlines looking up.
The week ahead may be volatile, but markets are greeting it with less anxiety than we've seen in several weeks.
If the deal comes in above $44 billion, this could be the biggest tech deal ever, topping the JDS Uniphase's $41 billion acquisition of SDL in 2000. It's also way bigger than Hewlett-Packard's $23.5 billion acquisition of Compaq in 2001.
Thursday's 400-point range in the Dow was the grand finale to a volatile month that will certainly go down as one of the worst for stocks.
It's been another volatile week in stock markets, but that doesn't mean there aren't plenty of investment opportunities out there. If you need advice on where to put your money or adjust your portfolio then look no further.
Futures dropped at 8:30 ET because jobless claims numbers higher than expected have somewhat hopes that the nonfarm payrolls report tomorrow will be stronger than expected. There are two noteworthy trends from companies announcing earnings:
Fear crept back into the markets Wednesday, killing the Fed's rate cut stock rally and setting Wall Street up for a sloppy session Thursday.
Stocks are rallying in a "got what we wanted" move after the Fed's rate cut. The Fed cut the target Fed furnds rate by a half point to 3 percent. It also cut the discount rate by a half point.
You can feel the tension in the market as it seesaws in a fairly tight band ahead of the Fed's 2:15 p.m. statement. It looks like Market Insider readers are siding with the majority Street view that the Fed will cut a half point. Forty-three percent of our readers see a half point rate cut
Inflation worries continue. If the comments from companies during the last three days is any indication, Americans will be spending significantly more for food in the near future, due to significantly higher costs for corn, soybeans, sugar, and cocoa.
Roller coaster for futures this morning. First the ADP report was big, anticipating job increases of 130,000 from the nonfarm payrolls report on Friday, way above expectations of 40,000, and moved futures up about 4 points.
While there's lots of important economic and earnings news Wednesday, we all know what matters most to the markets. That is whether the Fed cuts a quarter point or a half point from its target Fed funds rate.
Well, what does it mean when some well-known bears have suddenly turned rather bullish? Good example: Laszlo Birinyi, who put out a note late yesterday. His position--the market is in a range of 1350 on the low side and 1500 on the top. That means, at 1,360, he believes we are essentially at the bottom. His reasoning:
The surprising jump in December durable goods orders is reshaping the debate in some corners of Wall Street on whether the Fed will cuts its target Fed funds rate by a quarter or a half point tomorrow.
Schroders, Scottish Widow and Fidelity are among the funds that haven’t been keeping up with the pack in terms of returns, while Invesco Perpetual Income and High Income were among the best, a report from independent financial advisors bestinvest showed on Tuesday.
The Street wants a 50 bp cut from the Fed on Wednesday; it's widely believed that a 25 bp cut would be a real disappointment. The other hope for bulls is that nonfarm payrolls surprises on the upside this Friday.