Marty Mosby, banking analyst at Guggenheim Partners, told CNBC on Friday that patient investors could be rewarded by putting money in these four stocks.» Read More
The markets traded mostly lower in Asia as bank stocks were battered across the board, but a surge in crude oil prices powered energy stocks on expectations that record high oil prices would boost profits.
A plan by major banks to lump some of their more toxic assets into a debt super fund is giving Wall Street a case of indigestion. Couple that with the sting of record oil prices, and a so-so day turned into a sea of chop.
It's a pretty simple story today: Citi and Eaton. Citi, because they spoke about the need to raise reserves for potential losses in the credit area (reviving concerns about a consumer burdened by debt) and Eaton because they lowered Q4 guidance.
Stocks closed lower after financial giant Citigroup halted its stock buyback plan and said it and two other big U.S. banks will create a multibillion-dollar fund in order to support the struggling commercial debt market.
The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.
Citigroup said third-quarter profit fell 57 percent, hurt by losses and writedowns for subprime and leveraged loans, fixed-income trading and weakness in its consumer business.
Here's a look at the midday weakness: a) Citigroup comments on deteriorating consumer credit is weighing on financials. Oil at new highs helping energy but hurting transports.
Citigroup, Bank of America, JPMorgan Chase & Co. and other banks said Monday they were setting up a fund to support investment funds that might otherwise have to sell billions of dollars of assets.
The time is “absolutely right” for the financials, Cramer said. And UBS is in the sweet spot.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The earnings extravaganza begins Monday and lasts all week. Here's what to buy. Also, Cramer expects Citi's Chuck Prince to be gone soon. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Citigroup CEO Charles Prince will get more time to help turn around the company's fortunes, according to CNBC On Air Editor Charles Gasparino.
Stocks are sending a mixed message this morning as oil cranks to a new high and earnings season gets underway. European stocks are mixed to firmer, and Asian markets were higher though Tokyo had a flat session.
Here are my thoughts this Monday morning: 1) Citigroup's earnings were about in line with their own drastically reduced guidance they gave a couple weeks ago. Fixed income was poor as expected, and consumer delinquency rates continue to uptick. International posted strong revenue growth (up 30%) Conference call at 8:30.
European stocks were seen edging lower on Monday, after rallying for nearly three weeks, but losses could be limited as buoyant crude oil prices are expected to lend support to energy shares.
By the end of the coming week, the corporate earnings picture will be clear and it may not necessarily be one the stock market likes.
Stocks rose on Friday following strong retail sales and renewed mergers and acquisitions activity. "It seems that people are buying the pullbacks," said Joe Ranieri of Canaccord Adams. "There's just too much value in large caps and growth is starting to chase small- and mid-caps, so look for any kind of pullbacks to be buying opportunities."
Now that the Federal Reserve has lowered the cost of borrowing, will regional banks such as U.S. Bancorp (USB) and PNC Bank (PNC) report an earnings boost thanks to the steeper yield curve?
Citigroup said it is combining its investment banking and alternative investments units into one division led by a former Morgan Stanley executive.
The Street is anxiously waiting to hear from Citigroup (C) Monday. What will the behemoth bank’s quarterly earnings reveal and what’s the trade ahead of the data?
Surprisingly positive retail sales data changed the course of stocks this morning as Wall Street once more put its faith in the resilience of the U.S. consumer. Stocks opened higher after futures pointed lower much of the morning.