While traders slog through yet another earnings season, former trader Raj Mahal muses about what he DOESN'T miss about life on the Street.» Read More
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.
Stocks bounced back from the prior session's slide, led by techs and materials, as techs staged a rebound and materials benefited from higher metal prices. Better-than-expected retail sales also buoyed the market. Financials declined after federal regulators proposed increased oversight of investment banks.
Bank of America's deal to buy troubled mortgage company Countrywide may not be such a sure thing afterall., The New York Times reports.
Asian markets were mostly weaker Tuesday after surging oil prices and worries that Bank of America would scrap a deal to buy mortgage firm Countrywide Financial hurt Wall Street.
Bank of America said on Monday it remains committed to acquiring Countrywide Financial as planned in a bid to dampen speculation it might abandon the $4.1 billion purchase or change the terms.
Another record for crude oil dragged down the Dow Monday despite word that the service sector of the economy was no longer contracting in April. Here's the "Word on the Street."
Stocks declined as the market pendelum swung back the other way, sending oil prices to a new high and early cyclicals such as financials and retail lower. Yahoo plunged.
Analysts this morning began raising some red flags over the Bank of America/Countrywide deal, citing deterioration in the mortgage market that could lead BofA to walk away, or at the very least lower its asking price.
Stocks declined, with General Motors dragging on the Dow amid news of another strike and Yahoo weighing on technology stocks.
As of Friday, 389 (just under 80%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
Stocks opened lower Monday as Yahoo weighed on technology shares after Microsoft withdrew its takeover offer.
Their was plenty of discussion over the weekend that the market's recent upward momentum did not match the reality of the poor economic situation. They seem to be ignoring the fact that the global economy, while somewhat slower, has not collapsed and the markets are clearly anticipating a better second half of the year (which may or may not be overly optimistic.
Bank of America is likely to renegotiate its deal to buy Countrywide Financial down to the $0 to $2 level or completely walk away from it, said Friedman, Billings, Ramsey, which downgraded Countrywide to "underperform" from "market perform."