Stocks closed higher Thursday, boosted by a late-breaking Federal Reserve announcement, a better-than-expected regional manufacturing report and an upbeat analyst note on financials. Oil prices were back above $100 a barrel.
These banks absolutely can't go under if we're going to get out of this mess.
Stocks turned sharply higher Thursday after a closely-watched regional manufacturing report came in better than expected. Commodity prices continued to recede.
Wall Street was poised to open slightly higher on the last day of trading of the week before the Easter break, as investors hoped for a little breather.
Citigroup, the largest US bank, plans further job cuts in its securities operations in a bid to cut costs after subprime mortgage and credit problems led to a record quarterly loss.
Visa shares jumped as much as 38 percent in the world's largest credit card network's market debut on Wednesday, as eager investors handed some beleaguered U.S. banks a much-needed payday.
The overwhelming majority of homeowners are doing just fine. So how is it that a mess concentrated in one part of the mortgage business — subprime loans — has frozen the credit markets?
National Australia Bank, Australia's top lender by assets, is in talks to buy Citigroup's Australian retail broking business to expand back into stockbroking, the Australian Financial Review reported on Wednesday.
The Federal Reserve announced a 75 basis point cut to its Fed Funds Target today, bringing the rate down to 2.25%, its lowest level since January 2005. The Fed has now cut the rate by 3.0% since it began easing in September of last year. How does 300 basis points over 180 days compare to past easing periods?
When the news of Bear Stearns increased credit concerns arose on Friday, the Financial stocks took a beating, adding to their woes from the past few months. Sunday's news of the JP Morgan Chase's $2/share buyout of Bear drove prices down further. Now with Lehman and Goldman reporting better than expected earnings the financials are up significantly. See how the past three days have faired on the Financials...
Stocks opened higher Tuesday as investors are anticipating that the Federal Reserve will deliver an unusually large rate cut.
Enthusiasm for the Federal Reserve's actions to stem the credit crunch propelled the Dow Jones Industrial Average to a higher close Monday, a day when everyone expected a rout due to weekend fire sale of Bear Stearns.
The Dow Jones Industrial Average pared its losses Monday as the sell-off spurred by the fire sale of Bear Stearns wasn't as bad as expected.
As Visa’s expected public offering approaches, will the company’s IPO draw the attention that was anticipated? Here is some data on Visa, its business and its competitive position.
A fire sale of Bear Stearns stunned Wall Street and pummeled global financial stocks on Monday on fears that few banks are safe from deepening market turmoil.
Stocks plunged at the opening bell Monday as investors were spooked by the cash crisis at Bear Stearns that forced its sale for $2 a share to JP Morgan Chase.
H&R Block up 5 percent as Wilbur Ross has agreed to acquire Option One's Servicing Business for $1.1 Billion from H&R Block. He is not buying the mortgages, merely the right to service them. Another HMO lowers its outlook. Coventry lowered its 2008 forecast, citing the impact of flu on costs.
Dow Industrials newcomer Bank of America leads the list as the highest current yielder of all 30 Dow stocks. Chevron, the other recent Dow addition enters the list with a 2.7% yield.
Stocks tumbled Friday, after an initial jump, following news that J.P. Morgan Chase and the New York Federal Reserve are jumping in to help Bear Stearns.
Lehman Brothers Holdings , a US investment bank whose shares have been battered by fears it may face liquidity issues similar to Bear Stearns , said it has closed a $2 billion bank facility.