The Federal Reserve will cut interest rates again but probably not at the October policy-making meeting, said Bill Gross, manager of the world's biggest bond fund on Tuesday.
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.
My thoughts this Tuesday morning: 1) Ben Bernanke's speech widely discussed on the Street this morning. Traders wondering why he didn't talk about energy and food prices; further evidence that core inflation is what matters to the Fed.
A recently announced fund aimed at easing the global-liquidity crunch may signal problems in corporate financing down the road, Ralph Silva, senior research analyst at TowerGroup, told "Squawk Box Europe."
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."