Stocks declined as soaring oil prices triggered concerns about inflation and consumer spending.
Wall Street has been busy figuring out where and when consumers will spend their rebate checks, even as the latest consumer sentiment numbers show U.S. consumers are more distressed than they've been since 1982.
Women's apparel retailer AnnTaylor Stores posted a quarterly loss Friday, hurt by weakened consumer spending, falling store traffic and charges for a restructuring program.
Stocks tumbled Friday, after an initial jump, following news that J.P. Morgan Chase and the New York Federal Reserve are jumping in to help Bear Stearns.
Stocks tumbled Friday, after an initial jump, following news that J.P. Morgan Chase and the New York Federal Reserve are jumping in to help Bear Stearns.
Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. Many think this company is named for a stylish person, but it’s actually a style of dress popular in New Haven, Connecticut circa 1950s. And even though the store still caters to the working woman, it seems that demographic is dressing down lately. The stock dropped today after demand trailed expectations. Who is it?
The trading pattern remains the same: the market does not move up unless there is some outside piece of news. Today it is the better than expected CPI. Yesterday it was comments from Standard and Poor's and hopes for a government rescue of the mortgage market.
The U.S. dollar hit a new low as the Fed's Pianalto says the U.S. economy has stalled. Dollar weakness again helping oil. Jumbo mortgage lender Thornburg Mortgage TMA failed to meet a margin call of about $28 million which has triggered cross-defaults.
Find me an analyst or an investor who's excited about this week's same store sales results. Literally, the expectations are so low for this first month of the first quarter, that any indication of a rosier March may cause volatility around share prices when the nation's biggest stores report same store sales results for the month of February on this Thursday.
I've noted that when you are in this kind of uncertain market, everyone becomes a technician. There's a lot of attention now focused on tech stocks, now that both the NASDAQ and NASDAQ 100 have broken to 52-week lows.
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:
Stocks rallied to close higher after a report that Bank of America is in advanced talks to buy troubled mortgage lender Countrywide Financial.