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Stocks closed higher Thursday, boosted by a late-breaking Federal Reserve announcement, a better-than-expected regional manufacturing report and an upbeat analyst note on financials. Oil prices were back above $100 a barrel.
For the short week ending Thursday, March 20, 2008 the US Markets ended up. Market moving events include the JP Morgan Chase takeover of Bear Stearns and a Fed rate cut of 75 basis points. The Dow gained 420 points on Tuesday, only to give back 293 points the next day. A rally today kept the Dow, S&P, and NASDAQ up 3.43%, 3.21%, and 2.06% for the week, their best performance in 7 weeks. Next week, the markets will watch for the economic data including Durable Goods, GDP, and Personal Income numbers. Earnings from Lennar (LEN) will give another read on the housing sector.
Big Wall Street investment companies are taking advantage of the Federal Reserve's unprecedented offer to secure emergency loans, the central bank reported Thursday.
After the Federal Reserve's aggressive moves this week to ease the credit crunch, some on Wall Street are starting to wonder if the worst is finally over.
These banks absolutely can't go under if we're going to get out of this mess.
If the options market is any indication, investment bank stocks could still be in for a rough ride in the month ahead, particularly UBS, according to Rebecca Darst of Interactive Brokers.
Money-center banks appear to be outperforming the brokers. Is there a trade here?
Stocks declined Wednesday amid profit-taking from the prior session's rally, a sharp drop in crude prices and lingering concerns about credit.
An early rally fizzled Wednesday amid profit-taking from the prior session's rally and lingering concerns about credit.
Morgan Stanley said first-quarter earnings fell amid write-downs in mortgages and loans yet resilient trading results helped the second-largest US investment bank exceed lowered expectations by a wide margin.
Stocks turned mixed Wednesday after an initial jump spurred by news that regulators will provide some much-needed capital relief to Fannie Mae and Freddie Mac. Visa shares surged.
U.S. investment banks are testing a new program set up in conjuction with the rescue of Bear Stearns that allows investment banks to borrow directly from the Federal Reserve, according to people at the banks.
Goldman Sachs Group is borrowing money this week from the Federal Reserve as a test of a new program allowing dealers to borrow directly from the central bank, a company spokesman said.
Visa shares jumped as much as 38 percent in the world's largest credit card network's market debut on Wednesday, as eager investors handed some beleaguered U.S. banks a much-needed payday.
Asian markets rallied on Wednesday as investors took a shine to the U.S. Federal Reserve's interest rate cut. Australia had a spectacular session, finishing 4% higher. Japan and South Korea both ended over 2% higher.
Buyers came back to Wall Street in a big way Tuesday, igniting a sharp rally and new debate about whether stocks have bottomed.
The problem? He was the joke. Plus, Wells Fargo, Starbucks and more.
Stocks take off after better-than-expected earnings from Lehman and Goldman and go higher still on another Fed rate cut. Also, breaking news on the Visa IPO and more.
Cramer makes the call on viewers' favorite stocks.
Stocks soared Tuesday, led by financials, as the market breathed a huge sigh of relief following better-than-expected earnings from Goldman Sachs and Lehman Brothers.