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Fed Chairman Ben Bernanke's testimony before a Senate committee takes on even greater importance for Tuesday's markets, now that the Fed and Treasury have promised to backstop mortgage giants Fannie Mae and Freddie Mac.
Stocks finished lower, led by financials, as investors worried that the bailout of Fannie Mae and Freddie Mac might not be enough to prevent further turmoil in financial markets.
General Motors Chief Executive Rick Wagoner is set to announce further steps on Tuesday morning to cut costs in the face of slumping sales.
Volatility ruled the market Thursday because of oil prices, financial fears and an $18 billion acquisition. Following are the day's top five videos.
The Dow finished higher on Thursday propelled by optimism about a major deal in the chemicals sector and comments from Ben Bernanke. What's the "Word on the Street?"
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers and oil prices surged more than $5 a barrel. Still, all three major indexes eked out gains by the closing bell.
GM will not consider selling or eliminating any brands besides Hummer and has no plans to declare bankruptcy, Richard Wagoner, General Motors chairman and CEO, said Thursday at the Dallas Chamber of Commerce.
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers, overshadowing any positive news the market had to offer.
The message from General Motors chairman and CEO was clear and direct: The company has no plans to cut anymore of its brands. I asked Wagoner about cutting the brands when I caught up with him after a speech here in Dallas.
Stocks flipped and somersaulted Thursday as investors juggled worries about capital constraints at Fannie Mae and Freddie Mac with a drop in jobless claims, merger activity and encouraging retail sales.
On Mad Money we pander to neither panic nor euphoria. On Tuesday, an up day, Jim urged everyone to get out of the financials. I can't emphasize how important it is that we go negative on up days, but history can. The 234 point rout yesterday afternoon is a pure example of what I'm talking about. We try not to be too down on down days, and emphasize extreme caution on up days because that's useful.
General Motors is developing plans to cut costs and improve its "cash and funding position," Chief Executive Rick Wagoner said in an e-mail to the automaker's managers and team leaders.
A Michigan company will provide the solar electric system for what it says will be the world’s largest rooftop array, on a General Motors assembly plant in Zaragoza, Spain, according to the New York Times.
After blogging yesterday about the latest discussion at General Motors about keeping/selling/killing some of it's eight brands, I was inundated with e-mails suggesting what GM should do.
Following are the day’s biggest winners and losers. Find out why shares of General Motors and Dryships popped while Teva and RBS dropped.
General Motors may get rid of some brands, speed the introduction of small cars from other markets and make further white-collar job cuts as it tries to deal with a shrinking U.S. auto market.
Stocks moved out of bear territory Monday as oil retreated more than $4 a barrel, easing inflation fears, and technology got a boost from two of its largest companies.
Commodities are a bit weaker here as the dollar is stronger, stock futures are flat. Europe and Asia are mostly higher, the Shanghai Composite, however, is up 4.6 percent today, best day in a month on strong earnings forecast from a couple of their banks.
As GM slogs through a summer of sickening sales, there's growing speculation GM CEO Rick Wagoner will do an about face and finally cut some of the automaker's brands in an effort to stop the bleeding.
No. 1 U.S. automaker General Motors is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.