"Starting here is going to give us the passport to take our solution to many other markets," Symphony Communications Services CEO David Gurle said.» Read More
"I think we’re clearly becoming socialist," says an irate Jeff Macke on Fast Money. "The only bank stocks to own are..."
Stocks ended lower as hoopla over the government's plan to buy stakes in the nation's largest financial institutions died down and worries about earnings crept in. The Dow ended down just 75 points after swinging in an 850-point range. The tech-heavy Nasdaq lost 3.5 percent.
The Bank of New York is expected to be named the master custodian firm overseeing the Treasury Department’s bailout fund, the New York Times reports.
The government is starting to purchase stakes in financials, so should investors follow suit? Michael Cuggino, manager of the Permanent Portfolio Fund, says yes.
The US government outlined three new initiatives to aid financial institutions amid a historic credit crunch that has frozen lending around the world.
Today, the US Treasury, the Federal Reserve, and the FDIC announced measures to stabilize the financial markets, to build capital to increase the flow of financing to U.S. businesses and consumers, and to support the U.S. economy.
Stocks shot out of the gate Tuesday, a nice chaser to the Dow's biggest one-day point gain in history, after the government announced a plan to buy stakes in the nation's largest financial institutions.
Wall Street looked set for another rally Tuesday, after the Dow recorded the biggest one-day point gain ever on Monday, as world markets continued to surge.
Stocks will take their cue from credit markets in the week ahead and whether they are responding to any of the government's efforts to thaw the glacial credit freeze.
Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it, reports the New York Times.
For the historic week ending Friday, September 19, 2008, the major U.S. Indices managed to close mixed and almost flat after one of the most volatile trading weeks ever, driven by the collapse of investment bank, Lehman Brothers, enormous government actions around the globe, and billion dollar deal making. In one week, the government bailed out AIG, pumped funds into money markets, and banned short selling of financials - all while keeping the Fed Funds target unchanged and taking unprecedented actions to halt the liquidity crisis. The CBOE Volatility Index (VIX) surpassed the benchmark level of 30, hitting an intraday high of 42.16 on Thursday, its highest level since 10/2002. The major indices were all up and down +/- 3% for 4 of the past 5 days. The Dow posted a 2 day point move of more than 778 points as of Friday’s close, after plummeting 811 between Monday and Wednesday and hitting 10,609.66, its lowest level since 11/9/2005. On Friday, The Nasdaq Composite recorded a 2-day point move of greater than 175 points after it closed down 109.05 points on Wednesday, its first triple digit decline for one day since it began trading after the 9/11 attacks. The S&P 500 flirted with record territory closing up 98.7 over the last two days, marking its biggest 2-day point move since 3/16/2000, the largest 2-day point move ever.
Stocks whipsawed back into positive territory after regulators in the US and Europe took aim at short sellers and progress continued toward resurrecting the Resolution Trust Corporation to dispose of bad bank assets.
Lehman falls, Merrill is sold, and more fallout is likely ahead. Wall Street has likely changed forever, says the New York Times.
Attention Starbucks shoppers, there’s an early bird special over by the pastry counter. But only for the next 15 minutes, so better hurry! Sound far-fetched? Maybe not.
Oil prices will be the trigger for stocks in the week ahead. The Fed meets Tuesday and as usual, traders will watch for nuances in the Fed's post-meeting statement.
Following are the day’s biggest winners and losers. Find out why shares of Harley-Davidson and Capital One popped while eBay and Yum! dropped.
The two factors moving the market today were 1) the drop in oil, now down almost 10 percent in two days, and 2) the rally in financials.
But the housing sector needs a merger before that happens, Cramer says.
Cramer makes the call on viewers' favorite stocks.
After hours Morgan Stanley recommended investors buy Lehman Brothers stock and set a price target of $31. What's the "Word on the Street?"