Take a look at some of Tuesday's early movers:» Read More
Stocks tumbled at the open as the market was weighed down by the Senate's rejection of the $14 billion auto bailout and news of a $50 billion fraud scheme on Wall Street.
"Karnac the Magnificent" I am not. Heck, for weeks I've been predicting Congress would ultimately come up with a bailout for the Big 3. So after the Senate shot down the aid package last night, it's no wonder my wife said to me, "Gee Einstein, guess you were wrong about what would happen on Capitol Hill."
With the failure to pass an auto loan bill, the Treasury Department is now essentially the "last line of defense" for the auto makers. They can now provide a bridge loan through the TARP, or provide or guarantee a debtor-in-possession facility to fund a pre-packaged Chapter 11 proceeding.
U.S. stock index futures pointed to a lower opening for Wall Street as a plan to pour $14 billion into the cash-strapped auto industry failed in the Senate, leaving the White House searching for a solution.
Chrysler is nearing the minimum level of cash it needs to run the company and will have trouble paying bills after the first of the year, according to its chief financial officer.
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The Dow fell on dimming prospects for an automaker bailout, while bleak comments about the banking sector from JPMorgan's CEO prompted investors to sell financial shares.
Stocks closed sharply lower, led by financials after comments from JPMorgan CEO Jamie Dimon and as investors worried about the fate of the auto bailout.
Stocks turned mixed Thursday as a rise in commodities stocks offset pressure from a weak jobs report and a sharp drop in import prices.
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You have to give it to the Senate Republicans. Senators Shelby, Corker, Ensign and their colleagues in the GOP have been loud and effective in slowing down, if not jeopardizing the $14 Billion auto bailout package.
One of the more fascinating things in big Congressional debates like the one currently surrounding the auto industry is understanding the motivation of particular legislators in supporting or opposing a bill.
Stock index futures indicated a slightly weaker open Thursday, pushed lower by further weakening in the jobs market and a sharp decrease in import prices..
General Motors Chief Rick Wagoner, Chrysler's Robert Nardelli and before he stepped aside, Yahoo's Jerry Yang -- are just a few CEOs that have spent the past year under siege. As we watch CEOs stagger from the incredibly poor decision-making, it is easy to think that we are the unwitting victims who will endure losses because of their errors.
Americans remain downbeat about the economy, corporate America and the government's handling of the financial crisis, but optimistic about Barack Obama's ability to turn things around, according to a new NBC News/Wall Street Journal poll.
The Dow closed higher after a choppy session on Wednesday as a rebound in oil prices and other commodities lifted energy, mining and materials shares...
Stocks closed higher as a rebound in oil prices boosted energy shares and offset worries about the fate of the auto industry bailout.
Murky signs: Markets had rallied Wednesday morning on the belief that an auto industry bailout was all but certain. But some GOP legislators are opposing the White House deal with congressional Democrats. A top analyst sees financials in critical condition until 2010, but a peer says he's been buying bank stocks and socking them away. And a CNBC guest said commodities are going to lead a 50% S&P rally.
Stocks rode the enthusiasm over an auto makers bailout and a swift round of profit-taking to stage a rally Wednesday that offset some of the previous day's losses.
Ray T from Indiana writes, "We are loaning the auto companies $15 billion to keep them open for the next 4 months to make 3 million cars we don't want. That is $5000 for each!