Stocks advanced Monday as banks continued their winning streak and Federal Reserve Chairman Ben Bernanke's weekend remarks that the recession could end this year fueled some optimism. But weakness in big-name techs dragged on the Nasdaq.
The face of Wall Street undoubtedly changed forever last fall, with the Lehman Brothers bankruptcy, the Bank of America acquisition of Merrill Lynch, the government’s unprecedented 79.9% stake in AIG, and the shift of major investment banks (like Goldman Sachs and Morgan Stanley) to become bank holding companies. However, before all those stunning events unfolded in the fall, exactly 1 year ago today, JPMorgan Chase agreed to acquire Bear Stearns for $236 million or $2 per share – signifying the end to one of Wall Street’s most storied franchises.
On Monday President Obama asked for legal measures to block hefty bonuses awarded to employees of AIG...
Stocks opened higher Monday as banks continued their winning streak and Federal Reserve Chairman Ben Bernanke's weekend remarks that he expects the economy to start recovering next year spurred optimism.
Stock index futures indicated a higher open for Wall Street, with investors optimistic after Federal Reserve Chairman Ben Bernanke said he expected the economy to start recovering next year.
Why wouldn’t they? They’ve made a lot of money during this downturn. But that might be changing now.
Stocks went four for four Friday in a dramatic win that delivered stocks their best week since November.
Although the recent euphoria has waned somewhat, the market surged upward this week on hopes that the nation's leading banks were turning a corner.
Stocks opened slightly higher Friday amid some much-needed good news from banks.
As we get underway in the US, I have to think back to last week when US President Barack Obama told us all to go long equities. "Buying stocks is potentially a good deal if you have a long term perspective on it."
What a week: Dow up 8.2 percent, S&P up 9.9 percent, NASDAQ up 10.2 percent through Thursday...the best week since November, and only the third weekly advance in the last 15 weeks!
Futures pointed to a fourth straight session of gains Friday amid some much-needed good news from banks.
New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.
The market's strongest three-day advance since November is inspiring confidence that stocks still have room to run.
Even better: Events that could push the Dow up another 1,000 points.
Carter Worth, Market Technician from Oppenhiemer, takes a look at the down-trends and breaks down what it means for the markets.
Stocks rose for the third day straight on Thursday, marking the biggest three-day gain since November. Markets were up across the board, led by Bank of America and General Electric.
Thursday: Confessed mega-swindler Bernie Madoff pleaded guilty to fraud. Warren Buffett slipped from the "World's Richest Billionaire" slot. Apple flew in the face of grim retail prognostication and said it'd preview new iPhone software next week. It was reported that U.S. mortgage rates slipped last week; and Standard & Poor's downgraded General Electric* from its triple-A rating to AA-plus -- but GE's shares soared on a better-than-expected outlook. CNBC heard from experts who warned that AIG is a "boil" that "needs to be lanced" and called a market bottom — of sorts.
Plus, Cramer makes the call on Goldman Sachs, General Electric, Apple, Citigroup and more.
Stocks bounced back after a rocky start Thursday as oil prices rebounded and investors were cheered by a better-than-expected retail-sales.