Cramer makes the call on viewers' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks closed higher for the second straight session as Wall Street continued to celebrate Tuesday's half-point rate cut and analysts looked to the Fed for further action. "We got a Christmas present yesterday and we'll take it, but the game is not over yet," said Gregory Church, chief investment officer at Church Capital Management.
The United Auto Workers and General Motors resumed negotiations for a new labor contract on Wednesday, five days past the expiry of the previous pact.
There was a time when the idea of crude oil hitting $100 a barrel would have sent the auto industry into a panic. Funny, with oil now trading at roughly $82 and with a growing number of forecasters saying $100 is a possibility, the bread and butter big rigs (SUVs, pick-ups, crossovers) are still selling. People still want them, even if there's a greater chance of gas prices rising. Why?
Stocks closed moderately lower as traders remained cautious ahead of the most anticipated Federal Reserve meeting in years. "It's been sort of a nervous Monday," said Bob Nunn, chief operating officer at Cohen Specialists. "The market wants to see a 50 basis-point cut and comments that we could see cuts in the future. I suspect we're setting ourselves up for a bit of a disappointment."
Credit worries once more haunt world markets, but frankly, the only headlines that matter are the ones that will be released by the Fed tomorrow afternoon. The big story of today though is what former Fed Chairman Alan Greenspan is saying.
Contract talks between General Motors and the United Auto Workers union resumed late Sunday morning after negotiators talked all day Saturday, a person familiar with the talks said.
Negotiators from General Motors and the United Auto Workers union were making significant progress on Saturday on a new labor contract, but major issues remained unresolved, a person close to the talks said.
Stocks ended higher as investors widely expected the Federal Reserve to cut interest rates, but gains were tempered due to uncertainty regarding the magnitude of easing. The Dow Jones Industrial Average posted a weekly gain of 2.6%, the S&P 500 rose 2.1% and the Nasdaq Composite advanced 1.4%.
U.S. stock futures are pointing lower this morning as new credit worries in Europe drag down banking shares there and wipe out yesterday's euphoria in the financial sector.
European car sales zoomed ahead in July and August after slow sales most of the year in major car-buying nations, netting strong results for BMW, DaimlerChrysler, Fiat and General Motors.
Stocks closed higher as investors were encouraged by solid economic data and positive signals from the credit markets. "The market is getting some encouragement from some calming down on the credit market side," said Todd Clark, head of trading at Nollenberger Capital Partners. "You see that the long bond is down about a point which shows a little less fear."