After Jimmy Fallon said he's thinking about buying a truck, four automakers have reached out to sell him one.» Read More
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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?
Negotiators for the United Auto Workers union and General Motors broke off contract talks on Tuesday night and prepared to return to the bargaining table on Wednesday as the union cautioned it could be forced to set a deadline if progress stalled.
Negotiators for the United Auto Workers union and General Motors were scheduled to resume discussions later on Tuesday as GM factory employees went to work as usual on the fourth day without a new contact.
We all know them. The person who swears they'll never drive anything but Mercedes, BMW, or Lexus. When it comes to brand loyalty and the prospect of considering different brand cars and trucks, the foreign guys have enjoyed the type of loyalty American car companies crave.
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."
Bargainers for General Motors and the United Auto Workers resumed contract negotiations Monday amid optimism that they are getting closer to reaching a critical contract agreement.
This afternoon negotiators for GM and the UAW resumed talks to iron out a new contract. Despite the growing sense in Detroit that the two sides are close to deal, it may be while before we see an agreement in principal. Why?
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%.
Local leaders with the United Auto Workers union on Thursday began preparing to walk picket lines as soon as Friday if contract talks with General Motors break down after the UAW singled out the No. 1 U.S. automaker as its strike target.
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.
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While the United Auto Workers and General Motors negotiate a new labor contract, it's clear the two sides are on the cusp of a historic agreement. When I talked with one person close to the talks Friday they summed it up best by saying, "I think we'll see something worked out by early next week."
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."