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Stocks are striking a much-improved tone after Wednesday's high energy selloff, as investors await testimony this morning from Fed Chairman Ben Bernanke. Monthly chain store sales and some big earnings could also influence direction.
Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.
Money isn't the only thing that's green at Wells Fargo.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.
Dutch financial services group ING reported a 47 percent rise in third-quarter net profit, helped by the sale of its stake in ABN Amro and said it expected a further 1 billion euros ($1.45 billion) of investment gains.
Societe Generale, France's second-biggest listed bank, posted an 11.5 percent fall in third-quarter net profit, bang in line with forecasts, due mainly to lower earnings in corporate and investment banking.
Rising oil prices have not stopped consumers from going to the mall. Retailer Guess is enjoying a 15% surge in their stock price. The clothing company reported better than expected revenue.
Market leaders like metal and energy and tech stocks got help from financials today--that hasnt happened in a long time. But the big story was the weak dollar, which helped push gold, silver, and oil to new highs. Commodity stocks like precious metals, steel, and iron ore also surged.
Stocks ended higher as record oil prices boosted shares of Exxon Mobil and other energy producers, while technology shares rallied on optimism ahead of Cisco's earnings.
It's been less than a week since the Federal Reserve hinted it was done lowering interest rates. Yet Wall Street is already clamoring for yet another cut.
Citigroup on Tuesday named Richard Stuckey, who helped stabilize the Long-Term Capital Management hedge fund, to fix a troubled subprime mortgage portfolio expected to cause a fourth-quarter loss for the largest U.S. bank.
Citigroup, which faces rising losses from the global credit crisis, said it provided $7.6 billion of financing to off-balance sheet investment funds that have had trouble funding themselves recently.
Now that Citigroup’s Chuck Prince is gone, the Hall has a new king. 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.
Stocks are firming after the last few anxious sessions though the U.S. dollar has moved to a new low, oil is back on the rise and gold is at a 28-year high. The ever sunny Google is hitting a new high before the opening bell after Sanford C. Bernstein upped its target on the stock to $850 from $720.
Citigroup (C) dropped 5% Monday. When will it be time to pick up this one-time financial powerhouse, on the cheap?
Financial stocks held the market underwater Monday and will continue to figure in Tuesday's trading as investors struggle to sort out what the credit mess means for Wall Street and the banking industry.
Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high inventories of unsold properties presented a major risk to the U.S. economy and financial markets.
HSBC Holdings was one of the first and most exposed banks to the U.S. housing crisis, but the recent bigger problems of leading rivals mean its shares have outperformed to make it the West's biggest bank.
Stocks closed lower as credit worries about Citigroup and other big financial institutions sparked a broad selloff.
Citigroup's bombshell that it faces as much as $11 billion more in credit losses has made one thing clear: No one really knows what's hidden in the subprime bond basement.
Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.