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Stocks closed at new highs for yet another session despite mixed economic news and a varied batch of earnings reports, putting all three major indices on track for the best April since 2009.
Stocks continued to gain before the market closed Thursday although many tech stocks slipped after mixed earnings reports and ahead of Microsoft's results, which will be released later today.
Stocks traded mixed after news that pending home sales rose 5.1 percent, and a slew of companies delivered a mixed batch of earnings, a day after the market hit record multi-year highs across-the-board.
The specter of Lehman Brothers continues to haunt policymakers. Nowhere is its presence more apparent than the euro zone, where twin banking and sovereign debt crises are raging, reports the FT.
When it comes to the M&A playground, the game is supposed to be well-defined.
The news that Bank of America had hired Gary Lynch, formerly the General Counsel of Morgan Stanley, to the new post of global chief legal officer is a clear demonstration that the bank continues to play games with its shareholders. It is also giving rise to insider sniping about its general counsel.
Stocks closed mixed after another choppy, low volume session, as the broader market staged a late afternoon rally despite slumping bank and tech stocks. Kraft rose, while JPMorgan fell.
Stocks took a brighter tone in the last hour of trading as the broader market gained, although banks and tech stocks remained lower. Coca Cola rose, while JPMorgan fell.
Stocks turned weaker again in the wake of disappointing economic news, and ahead of major earnings releases. JPMorgan and HP fell, while Kraft gained.
While Fed Chairman Ben Bernanke maintains allies at the top of the central bank, finding support in the financial community is getting progressively tougher.
Central banks can only slow, not stop, currencies from moving when fundamentals dictate a shift. That means you, Malaysia and Thailand.
Banks are yet shrugging off a fear of commitment.
Just a quick and disturbing afterthought on that twisted story about the guy who delivers bottled water to the Deutsche Bank trading floor getting arrested for attempting to install hidden cameras in the men’s restroom.
A man was arrested for covertly installing cameras inside of Deutsche Bank, according to a report from DealBreaker.
Some of the best-known hedge funds have struggled this year to outperform the stock market, with many turning in 3 percent or 4 percent year-to-date returns during a period where the S&P 500 was up nearly 6 percent.
Renren.com plans to list in the US this year in a deal that could make the Chinese company one of the world’s first social networking sites the public can invest in. The FT reports.
Last week’s Kinder Morgan public offering was a fee bonanza for Wall Street. A total of nearly $86 million was paid out to the thirteen banks involved in the offering.
So much for the death of the IPO.
A suit by a mortgage insurer says that Bear Stearns pocketed money from bad loans instead of putting it toward mortgage bonds, the New York Times reports.
NYSE Euronext and Deutsche Borse are days away from finalizing a merger under which Deutsche Borse would exchange its shares for NYSE shares at an implied premium of roughly 10 percent, according to people close to the deal.