Mark Newton, chief technical analyst at Greywolf Execution Partners, shares his top investment idea for the months ahead.» Read More
As I reported last week, tech was the bright lure in an otherwise fishy market. Well, we saw just how stinky that market could become Friday when not even tech brought buyers in the door. But those buyers were the first ones back in on Monday, and Apple promises to keep the tech fire burning. It reported a 67% jump in fiscal fourth quarter profits earnings to $904 million or $1.01 per share, well above expectations. Apple shares were sharply higher after hours.
Stocks rallied late in the session to end a seesaw trading session higher as bargain hunters stepped in despite economic concerns and worries about global credit markets. "It seems like a little bit of a bounce back from Friday's Armageddon," said Mike Burnick, director of research at the Sovereign Society.
And the bell rang and what happened was a very modest late day rally. Perfect. A big selloff, and fear levels would go way up. A big comeback, and the bears--who have gained a great deal of traction in the past week--would be throwing stones immediately. Very modest rally is just the right reaction.
Is the U.S. dollar bottoming? CNBC's Rick Santelli thinks it might be. The dollar has been on a downhill slide against the euro and other currencies for weeks now. As of the end of last week, the dollar lost 7.7% against the euro since the beginning of the year, and it continued to move lower overnight. But it did a reversal this morning, and that makes Santelli think it's time to look at the charts.
Countrywide Financial, Washington Mutual and several other finance companies were downgraded on Monday by Lehman Brothers analyst Bruce Harting, who said the U.S. credit downturn could result in $242 billion of mortgage-related losses.
Traders expecting a sloppy day, with weakness at the open, but many are anticipating an attempt to stabilize right after that: others insist there is no reason to step in and be a hero on the long side.
Worry about slowing economic growth and a new bout of credit fears ignited the global sell off in stocks which continues into the U.S. open. Wall Street was the first market to spiral downward in Friday's big sell off amid worries the U.S. sub prime mess will take longer to sweep away than expected and is fanning out into other types of credits.
U.S. stock investors looking to recoup from the worst week in almost three months will have to keep one eye out for signs of weakness in earnings due this week and the other on the threat surging oil prices.
Fear returned to Wall Street this past week, and the Fed's meeting Oct. 31 is now being looked at as a necessary balm for the markets. Rightly or wrongly, that's how traders are see it, and they now expect the Fed to cut its target Fed funds rate and probably discount rate by a quarter point at that meeting.
AmEx on Monday will tell us about how consumer spending looks, but the pattern is clear: CEOs are talking down expectations. Sound familiar? They did this before! At the end of Q1, there were all sorts of comments from CEOs not to expect much in Q2 and Q3.
Gatorade, which is owned by Pepsi, confirmed today that it signed a licensing deal with Tiger Woods. Last month, Golfweek Magazine reported that it was a five-year deal and that it could be worth up to $100 mill
Industrial and Commercial Bank of China, the country's largest bank, plans to open branches in Doha, Dubai, Moscow and Sydney, Chairman Jiang Jianqing said on Wednesday.
Stocks closed lower after financial giant Citigroup halted its stock buyback plan and said it and two other big U.S. banks will create a multibillion-dollar fund in order to support the struggling commercial debt market.
Stocks rallied on Friday, sending the S&P 500 index to a new closing record, as a solid employment report rekindled optimism about the outlook for economic growth and corporate profits. The Dow Jones Industrial Average, meanwhile, traded above its record close for much of the session but gave back some of those gains.
Cramer is still confident the index will reach his year-end target. Here are the leaders that will get it there.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Two key events should put the index back on track to 14,548.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
I'm really loving the fact that Dale Jr. will be driving the No. 88 car next year with Amp on his hood instead of Mountain Dew. When it was first rumored that "Little E" would shed Budweiser for Mountain Dew, I wasn't that excited. Why? Because Mountain Dew is already the fourth largest soda brand in the US, behind Coke, Pepsi and Diet Coke. If Earnhardt had Mountain Dew on his hood, we'd never know if he did anything for them. Like Budweiser, the brand was just too big before he arrived.
American Express agreed to sell its international banking subsidiary, American Express Bank, to U.K. bank Standard Chartered in a deal worth approximately $1.1 billion, the company said in a statement Tuesday.
Stocks closed with modest gains as investors' hopes for a cut in interest rates overshadowed credit market concerns. "What I see is sellers pulling back and waiting for the good news from the Fed," said Phil Roth, chief technical market analyst with Miller Tabak. "The Fed is keeping selling off of the market."
CNBC's Becky Quick spoke by telephone with Warren Buffett this morning. Mr. Buffett tells Becky that all the speculation (specifically today's Wall Street Journal piece) about what he might be buying in these times of turmoil is just that, speculation. PLUS: A video clip of the Motley Fool's Bill Mann on all that speculation and an interview with Buffett-watcher Andrew Kilpatrick.