Bank of America has agreed to pay $16.6 million to resolve allegations that it processed drug trafficker monies subject to sanctions.» Read More
For the first time in a long time, it looked as if oil was going to stay out of the market headlines. No such luck.
The Dow plunged more than 400 points as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.
Stocks finished mixed as investors juggled some encouraging economic news and concerns about the financial sector. Lehman Brothers rebounded, while bond insurers plunged. Oil dropped below $123 a barrel.
Stocks ticked higher amid some encouraging economic data. Lehman Brothers rebounded after a recent slide but financials remained under some pressure ahead of a slew of earnings out of the sector next week. Oil dropped below $123 a barrel.
Stocks opened lower but quickly bounced as investors juggled worries about financials against some upbeat economic news. American Express led Dow gainers. Lehman rebounded, while Bank of America fell. Oil dropped below $123 a barrel.
Bernie McGinn says it's time for the investor to make a deposit in some selected bank stocks -- because the founder of McGinn Investment Management thinks the subprime crisis has run its course.
Countrywide Financial's cumulative losses are likely to rise to between $10 billion and $12 billion, causing mark-to-market writedowns for parent Bank of America, a Merrill Lynch said.
Cash-strapped Americans are ringing up more purchases on their credit and debit cards, but there could be a steep price to pay ahead.
Downgrades of three U.S. investment banks, an ouster of Wachovia's CEO and a bleak U.K. housing outlook reignited fears about the global credit crunch.
The latest shoe to drop came this afternoon when Standard & Poor said it was lowering the ratings of Merrill Lynch, Lehman and Morgan Stanley. Traders, though, say the move was not really a surprise and is trailing the market's view.
.Countrywide will be swallowed up by Bank of America sometime this summer, barring any last minute surprises. How will BofA celebrate? If this YouTube video is any indication, it will involve twisting a U2 hit into something Michael Scott would sing to motivate his staff on "The Office."
Standard & Poor's cut the ratings of Lehman Brothers, Merrill Lynch and Morgan Stanley and said the outlook for large US financial institutions is now mostly negative.
If so, it could spark a marketwide rally, Cramer says.
Stocks closed higher, led by technology shares, ending the a holiday-shortened week in the positive.
Stocks moved higher on positive earnings in technology and a report that inflation appeared to be moderating.
Hating your loan officer is so last year. J.D. Power sees a rise in customer satisfaction in applying for home equity loans or lines of credit. Customer happiness about the experience is up nearly 2 percent since 2007--to 780 on a scale of 1,000 points. That would be a C+/B- if I was handing out a grade.
Is this a once in a generation chance to buy financials?
Stocks closed with solid gains, though well off their highs, amid strength in the financial sector and a big decline in oil prices.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
Inflation appears to be escalating sharply throughout Russia, India and other emerging markets. Fortunately, Tim Seymour may have found a safety zone.