Over the past few days, the markets have been weighed down by weak economic data, downbeat corporate earnings forecasts, and concerns that many financial firms may post large quarterly losses in the upcoming weeks. Now at its lowest level since December 1, the Dow is down for its sixth straight session – its longest losing streak since the beginning of October.
We have not seen a day with poor internals like this in several weeks. 10-1 declining to advancing stocks, and much more volume is going to stocks on the downside than on the upside.
Two specific sectors are showing weakness today (financials and materials) but for the same reason: earnings concerns.
As we enter the first full week of 2009, just over 25% of the S&P 500 stocks have forward EPS growth expectations in the double digits. Here is a sampling of them.
Options traders are bearish on State Street, trading January puts in heavy volume. The financial services firm has seen a daily average of 1,800 put contracts over the last 30 days, but 14,000 traded in just the first 90 minutes of the session...
Stocks closed sharply higher as bargain hunters rushed back into the market to scoop up beaten-down shares.
The Treasury Department's $700 billion bailout plan, also known as the Troubled Asset Relief Program (TARP), is one of the main U.S. tools to address the financial crisis.
Hong Kong dropped 12 percent to its lowest level in 5 years, S&P futures have swung in a 60 point range this morning, though they are well off their lows.
Like we told you days ago consolidation in the financial services sector appears to be taking hold.
Will access to the Treasury's rescue fund spark mergers among regional banks?
Stocks sold off in the final hour of trading, an hour that has become known for wild, unpredictable swings, as a new government plan to juice money-market funds and some dismal corporate outlooks kept investors on edge.
Stocks retreated after a fleeting uptick as investors digested a slew of earnings and some dismal outlooks and signs of a thawing in the credit markets.
Stocks turned lower again after paring most of their losses amid more signs of thawing in the seized up credit markets.
U.S. companies ranging from chemicals like Du Pont, to pharmas like Pfizer and Schering Plough, and financials like Fifth Third and BlackRock, reported earnings Tuesday.
In a step that could accelerate a shakeout of the nation’s banks, the Treasury Department hopes to spur a new round of mergers by steering some of the money in its $250 billion rescue package to banks that are willing to buy weaker rivals, according to government officials.
U.S. stock market index futures pointed to a lower open for Wall Street Tuesday as worries over the health of the economy offset enthusiasm after news of a possible second stimulus package.
Following are the “Fast & Furious” trades - hot ways to play next week's market moving events.
Bank stocks soared on Tuesday after the government introduced details of its plan to inject $250 billion into the battered sector.
The House rejected the Wall Street bailout bill and the market screamed, selling off frantically until the Dow was left with its biggest one-day point drop ever. "This is panic and ... fear run amok," Zachary Karabell, president of River Twice Research told CNBC. "Right now we are in a classic moment of a financial meltdown," he said.
The market screamed as the House vote on the Wall Street bailout bill teetered on the edge of a cliff — and then fell off. At one point, the Dow was down more than 700 points -- its second biggest intraday move on record.