Stocks fell sharply in the final minutes of trading as investors continued to pound bank stocks. All three major indexes were trapped in a yo-yo pattern today, pulled by gains in techs and losses in banks.
On a week dominated by the $787B stimulus plan passed by the House, with the Senate scheduled to start the vote at 5:30pET Friday, the markets came close to retesting their November lows to end the week down 3.5% or greater.
Federal prosecutors say disgraced Florida hedge fund manager Arthur Nadel wrote letters home while he was fleeing from authorities last month, including one telling his family he "really anticipated" being labeled a "Mini-Madoff."
Sirius XM Radio is trying to avoid filing for bankruptcy and is trying to renegotiate its pricey contracts.
Another round of layoffs was announced on Thursday, adding to the gloom over rising unemployment.
The pace of corporate layoffs picked up sharply in January 2009, reflecting the worsening US recession.
It's a city where perception is reality and image is everything. But Hollywood is having trouble keeping up appearances in the midst of the nation's economic downturn, even during its splashiest, most self-celebratory time: awards season.
While private label cards account for only about 11 percent of all credit card loans outstanding, their troubles offer a window into the deteriorating finances of some of the most distressed Americans., the New York Times reports
Tuesday is perhaps one of the most pivotal news days for the economy in months. Markets finally get to cast a vote on the Obama Administration's new bank rescue plan, the subject of much speculation for the past several weeks.
The Dow finished modestly lower Monday as anxious traders await news of the government's bank rescue plan.
Stocks ended mixed Monday as the much-anticipated bank-rescue plan was delayed for another day. Banks jumped amid hopes the bailout will save the stocks.
Last Friday, we took a look at the travails of our parent company, General Electric. The stock has been hammered by a lousy economy and the perception that GE is actually a financial masquerading as a industrial conglomerate.
A beautiful day for our parent company. General Electric up nearly 14 percent, its best one-day gain since at least 1962.
McDonald’s is trading up after reporting another month of strong same-store sales, a trend that continues despite the current recession and economic turmoil. Its low-priced menu items have evidently remained attractive to consumers. . .
Panic! Time to sell? No! Let’s face it. The world is in a state of panic right now. The news is bad and has been for a while. Now is the time to look around at the carnage and find assets that are fairly priced, perhaps pay dividends and are positioned for a rebound. Believe me, the rebound is coming
Following are the week’s biggest winners and losers. Find out why shares of Amazon and Microsoft popped while Hartford Financial and Michael Phelps dropped.
Stocks rallied Friday as traders shrugged off a huge drop in payrolls and banks soared. The Dow gained more than 200 points, or 2.7 percent. The S&P and Nasdaq gained nearly 3 percent each.
The market rallied with most major indexes up 5% or greater for the week with the NASDAQ gaining almost 8%. The markets shrugged off grim jobs data and were buoyed by the bank bailout plan expected on Monday.
Plus, a look at what the stimulus package means for the homebuilders, Washington's plans for the banks and executive compensation.
Steven Spielberg's DreamWorks is now in advanced negotiations with Disney to distribute its films through through its Walt Disney studio.