U.S. stock index futures pointed to a lower open for Wall Street on Wednesday after the previous session's post-Gustav rally fizzled out.
Maybe the financials have bottomed and maybe they haven’t, but either way it looks like more write-downs lie ahead.
The Dow fell sharply on Monday as credit concerns hounded financial stocks while global growth worries hurt big technology and industrial companies.
How do you make money when the financials crush the rest of the market?
Fast Money Now – the trades you need while the market is open
As the value of home mortgages crumbles by the day, Wall Street has hoped that commercial real estate loans would stay clear of the storm, the New York Times reported.
The bank is suffering one setback after another, helping to prevent the market from finding any solid ground.
Some private equity firms are balking over Fuld's terms to sell them a part of Lehman's investment management business, which includes the firm's crown jewel, the Neuberger & Berman asset management unit.
Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.
US stocks ended mixed Thursday as a jump in oil prices boosted oil stocks and speculation about a government bailout of Fannie Mae and Freddie Mac, and a possible takeover of Lehman Brothers, gave investors some hope that relief is coming.
Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.
US stocks declined Thursday as oil surged and worries about the future of Fannie Mae, Freddie Mac and Lehman Brothers weighed on the market.
US stocks declined Thursday as worries about the future of Fannie Mae, Freddie Mac and Lehman Brothers weighed on the market. Oil surged past $120 a barrel.
Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
Regarding Fannie Mae and Freddie Mac:The most important issue is not the value of the equity holders' stake, but to ensure that Fannie and Freddie keep operating. Even slight glitches can have ripple effects. AND: Citi says BUY Lehman & Morgan Stanley!
Financials rebounded from Tuesday's sell-off but housing finance giants Fannie Mae and Freddie Mac plunged on growing concerns of a possible government bailout.
Major U.S. indexes ended a choppy session higher, helped by a late rally in banks and better-than-expected results from Hewlett-Packard.
U.S. stocks ticked higher Wednesday after a sharp rise in crude supplies pushed oil below $114 a barrel. Banks were scrambled by worries about more fallout from the credit crunch, while Hewlett-Packard buoyed techs.
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