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Stocks ended a dismal week on an up note as investors took some defensive positions in stocks like McDonald's amid nagging worries about the health of banks.
The Dow rose on Friday on strength in the energy sector and companies that hold up well in recessions...
On Friday, the US markets managed to close in positive territory for the day, however, they turned in their second-down-week in a row losing almost 3% or greater across the board, led by the S&P 500 Index.
For the week: Dow down 3.7 percent, S&P 500 down 4.5 percent, NASDAQ down 2.7 percent. The good news was that, on an options expiration day, most major sectors were to the upside.
Today’s consumer price index dropped for the fifth consecutive month. This is part of the unwinding of the great oil shock that was an important, if overlooked, factor in the current economic downturn.
Stocks were back up in a yo-yo session as investors took some defensive positions in stocks like McDonald's amid nagging worries about the health of banks.
While bank stocks are getting killed, the cost of insuring their debt is going down, Peter Boockvar at Miller Tabak notes.
The government rescued Bank of America on Friday through a $20 billion bailout and a guarantee for almost $100 billion of potential losses on toxic assets.
Like everyone in America yesterday, I watched intently as US Airways Flight 1549 crew and passengers were rescued from the frigid waters of the Hudson River. It is truly a miracle that so many ferries were nearby and all got out with nary a bump or bruise. A similar event took place yesterday in the markets.
I noted earlier this week that one of the reasons the market has been drifting lower recently was the Street was in the process of lowering expectations for the second half of 2009 and that's what B of A CEO Ken Lewis essentially did this morning.
Futures rallied on the back of the Bank of America bailout Friday, with investors hoping the government will do all in its power to save big institutions from collapsing.
Earnings news from Citigroup and Bank of America are the big hurdles ahead of Friday's opening bell.
The market seemed to shrug off bad news from two major banks and Apple. So is the bottom?
All passengers on a U.S. Airways jet that crashed into the frigid waters of the Hudson River off New York City on Thursday have been safely removed from the plane, according to the Federal Aviation Administration.
The Dow closed modestly higher on Thursday after investors brushed off negative sentiment and turned hopeful that falling oil prices might spur business and consumer spending.
Major indexes declined Thursday as investors digested the latest round of earnings and layoff news. Bank of America skidded amid news that the bank is going back to the government for help, while JPMorgan ticked higher after beating earnings estimates.
A lot of short-selling investors seem to be, well, banking on it. But does Cramer think it will happen?
More TARP money will have to be thrown at banks to avoid a systematic financial breakdown, economic experts said on Squawk Box Thursday. Bank of America, whose once estimated $50 billion acquisition of Merrill Lynch has now dropped to a $19 billion deal, is among the banks that will need more money.
The selloff in Bank of America and Citigroup may just be the beginning. Analysts now are predicting that the same problems hitting those two big banks will soon spread to the entire industry.
What a difference three months doesn't make. Though the current financial situation isn't as dire as late September, Happy New Year has quickly turned into deja vu.