Point72 Asset Management, the revamped firm of the billionaire investor Steven A. Cohen, generated a profit of nearly $1 billion for the first half.» Read More
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.
Bank of America is now saying Sambol will not stay on. The bank is opting for Barbara Desoer, someone with "deep roots in the Bank of America culture," according to Dow Jones. The newly combined mortgage business will still be based at Countrywide's Calabasas headquarters, but, like Mozilo, Sambol won't be there.
Bank of America plans to exercise part of an option to buy shares of China Construction Bank, investing $1.86 billion and raising its stake in China's second-largest bank to 10.75%.
The Dow ended higher Tuesday led by technology companies as a sharp drop in crude oil prices rekindled hopes of increased consumer and business spending on tech gear...
Stocks closed with solid gains, led by technology companies such as Apple, as investors bet that a sharp drop in crude oil prices will help shore up consumer and business spending on tech gear.
Housing will eventually rebound, Cramer says. It's oil that's the real scourge of the economy now. Also, his favorite momentum plays.
U.S. thrifts are being urged to set aside more money for bad mortgage loans after reporting record loan loss provisions totaling $7.6 billion in the first quarter due to the deteriorating American housing market, the Office of Thrift Supervision (OTS) said Tuesday.
Oil's relentless ascent finally pushed stocks over the edge, abruptly snapping the market's two-month rally. The Dow dropped 3.9% for the week, dragged down by GM's 15% decline. Crude jumped $6 this week, settling at $132.19 a barrel. All U.S. financial markets are closed Monday.
Skyrocketing oil prices, the threat of recession and continued housing slump are all pointing to a rough summer for the markets. Still, there are opportunities for investors.
The Dow has dropped 450 points in the last two days. Most of this is due to the record high price of oil, but at 2 PM ET today the markets dropped further as the Fed came out with its minutes, wherein they...
Stocks finished near session lows as oil prices soared and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.
Stocks tumbled Tuesday as oil prices blew past $129 a barrel and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.
The credit crisis will likely extend well into the next year and beyond, resulting in three years of multi-billion dollar revenue reversals, according to a prominent U.S. banking analyst, Meredith Whitney, who also slashed her earnings outlook for four Wall Street investment banks.
Short seller Doug Kass tells CNBC's Larry Kudlow he thinks Warren Buffett has lost his way, and Kass is betting on Berkshire Hathaway's stock to fall. In an appearance tonight (Monday) on Kudlow and Company, Kass, who is President of Seabreeze Partners Management, explains why he's taken a short position in Berkshire.
While layoffs are nothing new in the financial industry (they come with almost every downturn), this round seems different: it is eerily quiet, the New York Times reports.
Stocks bounced back from a weak open after a better-than-expected report on manufacturing.
Bank of America says it is seeing rising credit costs, as it continues to wade through a challenging economic cycle.
For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08.