Stocks rallied, with the Dow up more than 300 points in the first few minutes of trading, as Wall Street cheered the bailout of Fannie Mae and Freddie Mac.
While Fannie and Freddie are not trading pre-open (prevented by NYSE), the government rescue of Fannie and Freddie is having a very notable effect on financial and homebuilding stocks
Economic worries and profit warnings escalated this week, leaving stocks camped out in bear-market territory for the weekend.
Stocks declined Friday after a report showed the unemployment rate shot up to a five-year high in August, adding anxiety to a market already jittery about the outlook for the economy.
The latest overall job loss numbers showed a loss of 84,000 jobs in August and a jump in the unemployment rate to 6.1%, close to a five-year high. The payroll drop is still below the six figure numbers seen in past recessions. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
The Treasury secretary has long depended on investors like Pimco to keep failing banks afloat. What does he do now that the option's gone?
If all real estate is local, it's also true that what's ailing the market can sometimes spread from one area to the next. That seems to be the case with home foreclosures and the role of two particular kinds of alternative mortgages, which have yet to achieve the villain status of the subprime market.
Cramer makes the call on viewers' favorite stocks.
The Dow tumbled on Friday after a warning by computer maker Dell that companies worldwide are cutting back on technology spending spooked the tech sector.
Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $116 a barrel after earlier topping $120.
Stocks finished higher in feather-light trading Wednesday, boosted by a rise in financials and energy stocks, as well as a better-than-expected durable-goods report.
Stocks advanced in light trading Wednesday, boosted by a rise in financials and housing stocks, as well as a better-than-expected durable-goods report. Earlier, stocks had swayed, torn between the encouraging durables report and oil's ascent amid the threat of tropical storm Gustav.
Reeling from more than $58 billion in write-downs and credit losses Citigroup is looking to pare expenses. And one of those cost-cutting measures will be a limit on color-copying.
Lots of discussion about the "Fannie/Freddie mystery," i.e.: Why, if the common is worthless, have the stocks rallied 22 percent (for Fannie Mae) and 57 percent (for Freddie Mac) this week?
Stocks turned lower Wednesday as rising oil prices offset a better-than-expected report on durable-goods orders.
U.S. stock index futures bounced back after a better-than-expected report on durable-goods orders.
Find out why the bottom in banks might have occurred in July!
With the Democratic National Convention starting yesterday, the conversation over which candidate will be better for the economy will heat up. Here are some stats on the Dow and presidential elections. With the exception of FDR's takeover for Herbert Hoover, it looks like "Change" seems to be less favorable to the markets than continuity when a Republican is in office. The best year for the Dow, on the other hand, occurred under a Democrat's administration.
Does a $2 billion debt sale by Mr. Mac put these stocks back in the buy column?
As the value of home mortgages crumbles by the day, Wall Street has hoped that commercial real estate loans would stay clear of the storm, the New York Times reported.