A wide range of measures to ease the credit crunch will be announced Tuesday and they may now include financial aid to several insurance companies, according to a source.
Cramer has a few ideas on how to rectify the president’s less-than-stellar first few weeks in office.
The plan will get "credit flowing again to families and businesses", the government says, and is also expected to include measures to aid financial firms.
Bank stocks rallied ahead of Monday’s expected announcement in which Timothy Geithner will spell out a "comprehensive plan" to stabilize the financial system.
The Dow rallied for a second day on Friday on hopes Washington's stimulus package and a bank rescue plan will bolster the ailing economy.
Stocks rallied Friday as traders shrugged off a huge drop in payrolls and banks soared. The Dow gained more than 200 points, or 2.7 percent. The S&P and Nasdaq gained nearly 3 percent each.
Despite hopes that the latest jobs report would force Congress to pass a stimulus plan, the markets remain pessimistic that anything can be done to fix the economy.
Bank of America won't need any more government bailout money and hopes to pay back the $45 billion it's received in three years, CEO Ken Lewis told CNBC.
It's buy the rumor on the stimulus package, the Geithner package, and hopes that mark-to-market will be modified.
More companies announced layoffs this week as the employment picture continued to dim. News Corp. became the latest victim of the weakening economy, announcing it is planning on cutting jobs after reporting a quarterly loss on Thursday.
Stocks opened higher as traders shrugged off a huge drop in payrolls and banks soared.
More companies announced layoffs this week as the employment picture continued to dim. GlaxoSmithKline and Tiffany & Co. on Thursday became the latest victims of the weakening economy, each cutting an undisclosed number of jobs.
Futures moved in a 10-point range (up and down 5 points) within minutes of the non-farm payroll reports at 8:30, which reported a loss of 598,000 jobs.
In his latest move to show support of his bank, Bank of America Chief Executive Ken Lewis spent almost a million dollars this week to buy additional shares of his struggling bank.
The latest overall job loss numbers showed a loss of 598,000 jobs in January and the unemployment rate climbed to 7.6%. This is the highest unemployment rate since May 1992. The December payroll numbers were revised to a loss of 577,000. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
Futures pared their gains after a report showed more jobs were lost in January than expected.
Stocks will take their cue from the jobs report Friday, but it's the news from Washington that could once more drive the market.
The Obama administration plan to be announced Monday envisions a smaller, secondary role for the bad bank concept and will also involve less money than first thought.
Stocks rallied on Thursday on hopes that the government's plan to shore up the financial system could quickly spark lending.
Stocks eked out a gain after a rough morning as banks got a boost from market chatter that the government may suspend a controversial accounting rule blamed for much of the contagion in the financial industry.