CNBC's Jane Wells provides the latest from Chipotle's earnings conference call.» Read More
It's been another big year for Exchange Traded Funds (ETFs), those baskets of stocks that trade like individual stocks. 2008 will also be a big year -- so here's what to look for.
Weakness today on: Bhutto assassination, weaker-than-expected jobless claims, durable goods. Gold, oil, bonds rally. Weak: emerging markets, financials. Airlines, down 2% yesterday, another 2% today: AMR, Northwest, Continental at new lows. Some retailers like Macys and Kohls also at new lows -- but the season was not the disaster some depicted.
S&P futures dropped 5 points on the reported death of Benazir Bhutto after a suicide bombing at a rally in Pakistan, then an additional 2 points as the durable goods report was below expectations. But according to MasterCard SpendingPulse, total U.S. retail sales, excluding automobile sales, rose 3.6% for the holiday season so far.
A last minute buying spree on Wall Street could give the stock market a surprise bounce before the end of the year. "I think we're in for a real ramp up," says Jim Cramer.
Our friends at "Fast Money" earlier this week lamented that the Grinch stole the S&P 500's 2007 gains, so we stole their chart and have it here to show you. But seriously, we want to know what you think. Will there be a Santa rally before year end? Or will the S&P hold on to or even lose its current anemic gain?
If you're wondering what's going on, why we are getting this rally -- don't get too excited. There's very little behind it. It's being driven by two main factors.
Merrill Lynch is the topic today: As Morgan Stanley and Bear Stearns have both taken substantial writedowns on their mortgage-related portfolios, there is speculation that Merrill will also be taking writedowns when they report in January.
Federal Express again confirmed why they are still considered a bellwether for the U.S. economy. Their quarterly earnings report clearly indicated they were under pressure from higher fuel costs and a generally softer U.S. economy.
Check out the news on Eaton Corp today. The company plans to buy two companies--one in Europe, the other in Asia. That's exactly the type of deal making we can expect to see in the world of M and A next year.
Bear Stearns reported its first quarterly loss ($854 million, or $6.90 a share) in its history. Writedowns of $1.9 billion on lower value of mortgage-related securities. Up fractionally. Nike beat, up 3 percent pre-open, and expects low double digit revenue in the second half of fiscal 2008.
By taking a bigger than expected write-down on its mortgage-related portfolio, Bear Stearns has now written off about 60 percent of its $3.2 billion net CDO and sub-prime mortgage position. Goldman Sachs has a good take on this...
Oracle's strong earnings could give some tech names a bounce Thursday though markets are again being haunted by credit worries, and another Wall Street firm is set to report earnings before the bell.
Merrill Lynch says fund managers it surveyed in December are more pessimistic about corporate profits than they have been in nearly a decade. Seventy-four percent believe we are in a late cycle phase of business expansion while four percent believe the economy has already entered global recession, the firm says.
What's up with NetSuite, due to go public at the NYSE tomorrow? The company, which provides business management software, has boosted its IPO price range for the second time in as many days.
Most companies this morning reported disappointing earnings, and a few highlighted the impact of inflation on their bottom line. 1) Morgan Stanley reported a loss of $3.61 vs. a consensus of a loss of $0.39.
Stocks staged a mini comeback Tuesday after a day that saw indexes seesaw on both sides of the unchanged line. The market once more fretted over the financial sector and could do the same on Wednesday.
As we near the end of the year, the S&P is up a measly 2 percent. If it ends here, it will be the worst year since 2002. One reason for a lackluster year in stocks has been the complete and utter indifference of the Ameican investor to U.S. stocks. To be blunt, U.S. investors are sticking all their cash in overseas funds.
Two consecutive 170 point losses in the Dow. Supply of stock for sale seems to be plentiful, and demand seems to be lacking. If lack of liquidity during the last two weeks of the year has been one reason the market has had the jitters, then the ECB's $500 billion injection should be a big help. We are modestly higher, but it's the energy stocks leading, not financials.
Merry Christmas! The ECB's decision to inject half a trillion (trillion!) into the global marketplace (technically, they are providing what is essentially unlimited loans at a fixed fate for the next couple weeks) is definitely giving equities a shot in the arm this morning. This should put some pressure on bonds, lower LIBOR rates, and maybe prop up the dollar a bit.
Housing starts and earnings from Goldman Sachs and Best Buy are among the headlines the stock market will care about ahead of Tuesday's open.