Stocks are at new highs, but where are the bargains? Big financials are mounting an impressive rally.» Read More
Merrill Lynch warned on Friday that shaky credit markets forced the world's largest brokerage to reduce the value of securities linked to risky subprime mortgages and other products, a move that could hurt third-quarter profit.
Fasten your seatbelt. Investors face a number of market-moving events next week, including a Federal Reserve meeting on interest rates, major bank earnings and "quadruple witching" in options and futures markets.
A former Morgan Stanley financial analyst and her husband, an ex-hedge fund analyst at ING Group, pleaded guilty to insider trading charges on Wednesday.
Stocks closed broadly lower and the Dow saw a triple-digit loss amid mixed signals from the Federal Reserve and weak economic data. "I think the market is going through a tremendous amount of uncertainties," said John Manley, private client strategist at Smith Barney.
Stocks ended another volatile week on a positive note as investors were cheered by President Bush's plan to help distressed homeowners and Fed Chairman Ben Bernanke's stance that the central bank will act as needed to address credit concerns.
Stocks closed mostly lower after a day of choppy trading as investors worried whether Federal Reserve Chairman Ben Bernanke would signal a possible interest rate cut during a speech Friday morning. Volume was very light but without extreme volatility," said Scott Fullman, director of investment strategy, for IA Englander.
Tomorrow is the end of the month, significant for several reasons, including: 1) end of the quarter for a number of brokerages, including Morgan Stanley, Bear Stearns, and Lehman Brothers, and 2) a large amount of asset-backed commercial paper (ABCP) will be rolling over.
Merrill Lynch threw cold water on the financial sector Tuesday by downgrading Bear Stears, Citigroup and Lehman, citing their exposure to problems in the credit markets. The three were downgraded to "neutral" from "buy," which helped pushed financial stocks lower.
It's finally happening: analysts are lowering estimates on investment banks, just a few days before the quarter closes for many of them. Merrill Lynch's Guy Moszkowski downgrades Bear Stearns, Lehman Bros. because of their greater dependence on debt markets; they note that Merrill and Morgan Stanley are more diversified.
The major indices traded in a narrow range today, with volume on the light side. Indeed, we have gone from 3 billion share days at the NYSE to 1 billion share days in less than a week and a half. Housing and brokerage stocks were the weak links today. In brokerage, Bear Stearns and Lehman both down about 4%; Goldman Sachs out with a note over the weekend noting that "Bear Stearns will see the greatest reduction in earnings this quarter given its high concentration in mortgages."
An end to Wall Street's streak of rising profits in the third quarter is built into investorexpectations, but the top brokerages' results will still face scrutiny next month to see just how they value assets bloodied by the summer market meltdown.
An end to Wall Street's streak of rising profits in the third quarter is built into investor expectations, but the top brokerages' results will still face scrutiny next month to see just how they value assets bloodied by the summer market meltdown.
A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.
If the government doesn't help, the private sector still has some tricks up its sleeve. Cramer has outlined five things that the market can do that he thinks will circumvent a complete systemic breakdown.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 SEC mishandled an investigation of suspicious hedge fund trading that led to the 2005 firing of an SEC attorney, a U.S. Senate report says. The report from the Senate Finance and Senate Judiciary committees, released late on Friday, ends a yearlong inquiry into the dismissal of former SEC staffer Gary Aguirre.
CNBC's Bob Pisani says with all the worries over mortgage lenders, here's a CNBC 101 on how the mortgage business works, and why it is in a bit of a tizzy at the moment.
A second day of stock market advances sizzled at the open, but then faded. Some strategists are concerned that momentum could easily wane if those who bought on the rebound Monday opt to book fast profits and sell into strength.
With stocks in rally mode, it's appropriate to drill down for answers as well as take a look at some key sectors.
CNBc's Bob Pisani sees several reasons investors should be optimistic about the market. He shares what traders are telling him at midday.
Lehman Brothers denied market rumors that it is going to take a writedown related to subprime exposure. The rumor dented stock prices and spurred buying in Treasurys, traders said.