A market bottom is nowhere in sight and safety of investment still beats quality as a choice for investors, as markets remain extremely volatile, Nick Parsons, head of strategy at nabCapital Markets told CNBC.
It was a week of short-lived rallies and dismal data, with breath-taking drops for giants like CNBC.com parent General Electric and battered automaker General Motors. The experts looked for a bottom, and focused on the future. One highly-regarded analyst even predicted a bottom within days.
Stocks staged a late-day rally Friday, pushing the Dow to a positive close, after a report that a major UK bank has reached an asset-protection deal with the government.
Cramer has calculated what he thinks is an absolute bottom for this bellwether index.
Simply put, there is still too much negative sentiment - and sideline money is afraid to step in.
Shares of GM have been getting hammered due to growing speculation the beleaguered auto maker is edging closer to filing for bankruptcy.
As General Motors mulls spinning off its European unit Saab, the CEO of Electrolux, Hans Straberg, told CNBC that failing businesses should be allowed to go bankrupt and not receive any more state aid.
After General Motors issued its 10K report yesterday casting doubt on whether it can survive, there have been plenty of questions about why GM doesn't just go into bankruptcy.
The latest overall job loss numbers showed a loss of 651,000 jobs in January and the unemployment rate climbed to 8.1%. This is the highest unemployment rate since 1983. The January and December numbers were revised to a loss of 655,000 and 681,000 respectively. 4.4 million jobs have now been lost since this recession began. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
The banking giant Citigroup commanded a stock price of $55 just two years ago. But at one point Thursday, as markets hurtled to their lowest close in 12 years, the shares were worth less than an item at the Dollar Store.
Let's face it. Nothing about Friday's employment report will be pretty, and the 7 percent decline in stocks this week has been signaling that.
As stocks bounce around how do you invest for the long term?
Stocks slid on Thursday with the Dow and S&P falling to 12-year lows and the Nasdaq finishing at its lowest level since March 2003.
What's good for General Motors is not good for America, and vice versa. I don't object to the government giving GM tens of billions of dollars so it can avoid bankruptcy, or at the very least liquidation.
Stocks tumbled 4 percent Thursday as investors were rattled by doubts about the survival of General Motors and Citigroup broke below $1.
Investors have been searching for that vital capitulation point where stocks form a true bottom. A higher-than-expected jobless rate could set the stage for that.
As Citi trades below $1, speculation again heats up that Citi, Bank of America and GM will almost certainly be removed from the Dow Industrials. Lists are being circulated for likely candidates.
Stocks opened lower Thursday, pressured by doubts about whether General Motors can survive and ahead of a hearing with Treasury Secretary Timothy Geithner.
General Motors' auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
General Motors' says it gave Chief Executive Rick Wagoner compensation valued at $14.9 million last year for leading a company that lost $30.9 billion and is running on government loans.