Stocks fell on Friday, pressured by weak corporate earnings and concerns about the outlook for the rest of the year.
Considering there are so many challenges facing the financials, are any poised to profit?
Predictably, it was led by financials. The Bank Index rallied 12 percent after dropping 19.7 percent yesterday.
What looks like a financial crisis is really an accounting crisis, made much worse by persistent fear.
Where to begin on this auspicious day! First, the oddsmakers are out with what they expect to hear in Barack Obama's inaugural speech.
Following are the day’s biggest winners and losers. Find out why shares of McDonald’s and Kimberly-Clark popped while Morgan Stanley and Estee Lauder dropped.
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Earnings news from Citigroup and Bank of America are the big hurdles ahead of Friday's opening bell.
The selloff in Bank of America and Citigroup may just be the beginning. Analysts now are predicting that the same problems hitting those two big banks will soon spread to the entire industry.
Troubles at some of biggest US banks is merely setting the tone for what is likely to be another disastrous year for the industry.
Thursday's markets will face JP Morgan earnings, producer inflation data, weekly jobless claims, and the current quarter's first economic headlines in the Philly Fed's report and the Empire state manufacturing survey. Europe's central bank decides on interest rates before the New York open, and Congress will vote on releasing TARP funds to aid the ailing banking sector.
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Citigroup may soon restructure its board as well as its operations, sources have told CNBC.
Citigroup, is expected to continue selling assets in the coming weeks in what some predict will be a dismantling of the banking giant.
Futures are lower, after retail sales came in lower than expected, and after weakness in Europe due to poor earnings news from Deutsche Bank. The German bank expects a loss of about $6.4 billion. Trading down 10 percent pre-open.
In trying to appeal to the 11.1 unemployed, job website Monster.com decided to use a humorous touch, reports the New York Times.
Citigroup's board has said it is standing behind CEO Vikram Pandit, but the general consensus on Wall Street is that he is running out of time.
Citigroup has agreed to merge its Smith Barney brokerage unit into Morgan Stanley's brokerage, moving away from the financial supermarket model that Citigroup has followed for the past decade.
Stocks ended mixed Tuesday as tech and oil stocks were buoyed by bargain hunting, but the undercurrent of earnings worry took down the Dow.
The Treasury Department is developing tools to measure whether banks that receive funds from the $700 billion financial industry rescue program are increasing lending.