Despite the pullback in consumer spending and the ever-declining stock market, Americans continue to shell out big bucks at the box office.
The Dow Jones Industrial Average hit its lowest level in 12 years, slipping below 7,000, then 6,900 and then 6,800, as another bailout of insurance giant AIG stirred fear about the stability of the financial system.
The Dow Industrials, Dow Transports, and Dow Utilities are all hitting multi-year lows now. While the Dow Industrials and Dow Transports have been closing at new lows for days, the Dow Utilities closed below its October low for the first time on Friday.
The Dow Jones Industrial Average opened at its lowest level in 12 years, slipping below 7,000 as investors grew increasingly skittish over the state of the stock market amid the wave of government bailouts.
While January was a poor month for the markets overall, February turned out to be worse. Both the Dow Industrials & S&P 500 once again had their worst month since last October – a feat which they both achieved in January as well. Will March be any better?
Investors everywhere are reading Warren Buffett's commentary on his past actions as well as general views about the economy. But perhaps the best lessons are sometimes hidden behind the words. It requires a careful examination of his letters to fully capture the genius of Buffett and integrate his wisdom into your portfolio.
In his annual letter to Berkshire Hathaway shareholders, Warren Buffett says he did some "dumb things in investments" last year, while defending Berkshire's "equity put" derivatives contracts. Buffett also predicts the economy will "be in shambles throughout 2009 - and for that matter, probably well beyond - but that conclusion does not tell us whether the stock market will rise or fall." He's still optimistic for the long-term, however, again pointing out that "our country has faced far worse travails in the past" but always "we've overcome them." He says confidently, "America's best days lie ahead."
Stocks limp into March at 12-year lows, amid signs the market could still be heading south.
Stocks fell to a 12-year low Friday after the government announced plans to take a large stake in common shares of embattled Citigroup.
In this climate, chasing dividends is a dead-end strategy, say our certified financial planners.
Stocks tumbled Friday and the S&P hit a 12-year low as news of the government's stake in Citigroup and General Electric slashing its dividend stirred worry in the market.
General Electric plans to slash its quarterly dividend 68 percent, to 10 cents from 31 cents a share, beginning in the third quarter. The move, which will save $9 billion annually, had been widely expected in recent weeks.
Friday: General Electric (CNBC's parent company) said it'll slash its quarterly dividend 68 percent, saving $9 billion annually. The U.S. agreed to boost its stake in Citigroup to as much as 36 percent. U.S. GDP data was sharply revised downward, with economic loss at 6.2 percent. Experts told CNBC that the market is resisting scary talk from President Obama and Fed Chairman Bernanke — but the recession's end is nowhere in sight.
The move will generate much-needed capital for the company, Cramer says.
Fourth Quarter GDP, was revised down to -6.2%, the worst quarter since Q2 1980 when economic "growth" was -7.8%. The revision is a significant move from the -3.8% that was originally reported. Here is a breakdown of where the economy is shrinking most.
NBC has lured the comedian back to its airwaves, hoping to hit the jackpot once again.
Disney opens its "Jonas Brothers: The 3D Concert Experience" on about 1,200 screens Friday.
US stock index futures pointed to a strong open Thursday as investors grew more comfortable with the government's plans for the nation's banking system. But a pair of dismal economic reports made a slight dent in gains.
Universal Studios is moving forward on plans to turn the board game "Clue" into a movie, again, nailing down the man behind Disney's Pirates of the Carribean hit, Gore Verbinski, to direct and produce.
General Electric this past week, hit a 14-year low, dropping below $9 over concerns about its real estate holdings. One could say GE's staging a general retreat. Many Charting Asia readers have requested a chart of GE. You get your wish in this column.