Stocks have been quietly moving to the upside all morning...the general take is that despite vigorous questioning Mr. Bernanke is holding up well in his principal claim: that he did not threaten action against Bank of America CEO Ken Lewis or the bank's board if they abandoned the Merrill takeover, and more importantly insisted that his actions helped avert a global economic meltdown.
Today Federal Reserve Chairman Ben Bernanke testifies at a House of Representatives Oversight Committee hearing on the central bank's involvement in the Bank of America Corp.'s acquisition of Merrill Lynch & Co.
Stocks rebounded Thursday after a lower open as weekly jobless claims came in higher than expected.
Stocks opened lower on Thursday after weekly jobless claims came in higher than expected. In the meantime, the economy contracted 5.5 percent, the Commerce Department said in its final reading on first-quarter GDP. That was a smaller contraction than the 5.7 percent initially reported. Read and listen to what the experts had to say...
First Quarter GDP was revised to a final drop of 5.5%, slightly better than was previously reported. This comes after the final numbers for Fourth Quarter GDP was down -6.3%, the worst quarter since Q1 1982 when economic "growth" was -6.4%. Here is a breakdown of where the economy is shrinking most.
Futures indicated a slightly negative open for Wall Street Thursday after the Federal Reserve cautioned that the U.S. economy would remain weak for a time, adding concerns about the sustainability of a recent recovery.
Federal Reserve Chairman Ben Bernanke needs to explain whether the Fed kept the Securities and Exchange Commission in the dark about Bank of America's acquisition of Merrill Lynch before the central bank is given more power under financial reforms, Rep. Darrell Issa , R-Calif., told CNBC.
Big U.S. banks like Citigroup and Bank of America are attractive because there is no chance of them failing, Ron Ianieri, chief market strategist at ION Options said Thursday.
In a peculiar role reversal, Republican lawmakers are mounting a ferocious attack on the Republican chairman of the Federal Reserve, while Democrats are coming to his defense.
Citigroup cut Bank of America's share-price target to $18 from $20 Thursday, predicting a loss in the second quarter and a big writedown on Merrill Lynch debt.
We can’t afford to lose the man who saved us from a second Great Depression.
The Dow fell for the fourth day after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.
The Dow fell for a fourth straight day Wednesday after the Fed said it expected to keep interest rates exceptionally low for an extended period.
Citigroup, which to many, symbolizes the troubles of the financial industry, intends to raise workers’ base salaries by as much as 50% this year to offset smaller annual bonuses, the New York Times reports.
The Mad Money host defends the Federal Reserve chairman against claims of impropriety. Plus, a reaction to the central bank leaving interest rates unchanged.
Stocks bounded higher Wednesday, with the Dow up about 1 percent, as investors cheered the better-than-expected jump in durable-goods orders and shrugged off a weak new-home-sales report.
Stock gains continued to erode after the Fed said it expected to keep interest rates exceptionally low for an extended period. The Fed said that the "pace of economic contraction is slowing" but that it "continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal-funds rate for an extended period." Read and listen to what the experts had to say…
JPMorgan tops a list of the world's strongest banks, while Royal Bank of Scotland suffered the biggest loss of any lender last year, according to new industry rankings on Wednesday.
Bank of America is ready to disclose details of Countrywide's former VIP program of preferential mortgages if a law enforcement body, Congress or other government bodies, issues a subpoena, documents obtained by CNBC show.
That depends on the stock in question. But the Mad Money host has found a big reason to be positive.