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The White House cited "significant progress" in the financial bailout but it was unclear if a deal would be reached by the time lawmakers meet with Bush this afternoon.
Stocks got an early boost from Buffett's vote of confidence in Wall Street but the meandering hearings on the bailout sucked the air out of the trading floor. By the closing bell, financials had fallen and only techs were left carrying the torch of hope.
Stocks made a modest advance Wednesday, boosted by Buffett's investment in Goldman Sachs and optimism that a bailout could boost tech spending.
The market was quiet for most of the day. This is the narrowest trading range we have seen this month. Volume was light.
Secretary Paulson is doing the right thing in his afternoon testimony: he is arguing that this is not a bailout, it is an asset purchasing program. The $700 billion is for Working Capital to buy mortgages.
Investors who think the ban on short selling provides a buying opportunity could get stung by a likely selloff when the rules expire Oct. 2.
In whatever form it takes, the government rescue plan for the nation's financial system should provide an entry point for investors looking to buy bank stocks again.
Stocks made a modest advance Wednesday after Warren Buffett, one of the most highly-regarded investors, calmed the anxious market with a $5 billion investment in Goldman Sachs.
Even before the ink dries on a proposed $700 billion bailout for the financial industry, Wall Street players have begun jockeying to be the first ones to snap up distressed investments on the cheap, says the New York Times.
It is now a week an a half since we saw the collapse of Lehman. Here is a snapshot of how the various banks have fared since that notorious weekend.
Everyone and their mother’s favorite industry observer are calling Morgan Stanley and Goldman Sachs’ status switch to holding companies the end of the large independent investment bank as we know it.
Warren Buffett is driving the latest ambulance to show up on Wall Street, and his first aid may in fact give a boost of confidence to the market and Washington's rescue process.
There's a lot of talk about this proposed bailout. Here's why most of it is wrong.
In a surprise return to Wall Street, Warren Buffett's Berkshire Hathaway has a deal to make a $5 billion investment in Goldman Sachs. Up until now, he has rejected all pleas to come to Wall Street's aid during the current crisis.
The world's fastest-growing debt market has hit the skids in part because leading Islamic scholars began to question whether some popular Islamic bonds, or sukuks, followed Islamic law, said Portfolio.com
The Price is Right -- or is it? With untold billions about to be put to work to mop up this mortgage-related mess, the $700 billion question is price. How will "PBC Partners" (Paulson Bernanke Cox) figure out what to pay for all those ''priceless assets'' when for months, Wall Street's smartest were unable to get much further than "illiquid = worthless"?
U.S. stock index futures were broadly flat ahead of the open Tuesday as investors grew nervous that the government's plan to bail out the troubled financial sector might be delayed by political bickering.
The scorching volatility ripping through financial markets is not likely to let up while details of the government's rescue plan are being worked out.
Maria Bartiromo discusses Monday's top business and financial stories, and looks ahead to tomorrow's events. Oil prices, Lennar earnings, Goldman and Morgan Stanley, tech stock buybacks, the dollar slide and more!
The Dow tumbled on Monday as investors worried a $700 billion bailout for the financial sector may not resuscitate a slumping economy...