The average return for September since WWII is about negative one percent. So with the S&P 500 up about two percent so far, what's behind this September's surprise gains?
One year ago, at the epicenter of the credit crisis, Lehman Brothers went dark, marking the biggest bankruptcy in U.S. history. The bankruptcy sparked a financial crisis that questioned the viability of the entire U.S. financial system driving many investors to short the financial sector at heightened levels.
Abolish the Federal Reserve and let AIG go bankrupt for the world economy to emerge cleaner from the financial meltdown, legendary investor Jim Rogers told CNBC a year ago. A year after Lehman Brothers collapsed, here is what Jim Rogers tells CNBC:
What if they’d saved Lehman Brothers? What if, a year ago this weekend, the government and the banking industry had somehow found a way to keep Lehman from filing for bankruptcy? How might that have changed the course of the financial crisis?
One year after the collapse of Lehman Brothers, the surprise is not how much has changed in the financial industry, but how little, reports the New York Times.
Stocks snapped a five-day winning streak Friday as a sharp drop in oil prices and profit-taking offset an improvement in consumer confidence and a rosier outlook from economic bellwether FedEx. Still, for the week, stocks gained 1.7 percent.
Oil is down on demand fears yet transports are higher on promising signs of a global recovery. What's the market telling us?
Morgan Stanley's incoming CEO will be facing a drastically different landscape on Wall Street from when John Mack took over in 2005. James Gorman is poised to take over a bank that some say is still looking for direction after surviving a credit crisis that wiped out most of its competitors.
Stocks are poised for a slightly higher open, and are seeking to rise for the 6th straight day. The S&P is up nearly 5 percent over the past 5 days, and if it closes up today, it will have its best 6-day winning streak in about 6.5 years.
The change in the Morgan Stanley management will benefit the bank, but CEO John Mack should leave for good, Rochdale Securities Banking analyst Richard Bove told CNBC Friday.
Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by James Gorman, one of the investment bank's co-presidents, CNBC learned. Mack will remain chairman, however.
Uncertainty over guidance from Lehman Brothers casts a pall over the entire banking sector, including Merrill Lynch, Goldman Sachs — and Lehman itself.
In the after hours, traders were trying to get a handle on Morgan Stanley’s future after learning that CEO John Mack is stepping down.
If today's gains hold, we're looking at a 5-day advance in stocks. How should you trade?
Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday.
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
The surprise of the U.S. Open, 17-year-old Melanie Oudin, who is playing her quarterfinals match against Caroline Wozniacki tonight, has signed a new endorsement deal.
Stocks closed higher for a fourth straight day on Wednesday, sending the S&P 500 to its best finish so far this year.
China will continue to grow as the crisis has forced it to shift from an export-led economy to one which bases its development on domestic consumption, Jim O'Neill, head of global economic research at Goldman Sachs, told CNBC Wednesday.
This is the text of an article on Warren Buffett's response to the financial crisis, published in the New York Times on Tuesday, September 8, 2009.