It was a late-day selloff that was widely anticipated: we went from WILDLY OVERSOLD to MOSTLY OVERBOUGHT, in 6 trading sessions!
Plus, Cramer makes the call on JPMorgan Chase, Hewlett-Packard, Goldman Sachs and more.
Stocks advanced Monday as banks continued their winning streak and Federal Reserve Chairman Ben Bernanke's weekend remarks that the recession could end this year fueled some optimism. But weakness in big-name techs dragged on the Nasdaq.
The face of Wall Street undoubtedly changed forever last fall, with the Lehman Brothers bankruptcy, the Bank of America acquisition of Merrill Lynch, the government’s unprecedented 79.9% stake in AIG, and the shift of major investment banks (like Goldman Sachs and Morgan Stanley) to become bank holding companies. However, before all those stunning events unfolded in the fall, exactly 1 year ago today, JPMorgan Chase agreed to acquire Bear Stearns for $236 million or $2 per share – signifying the end to one of Wall Street’s most storied franchises.
Among those young people coming of age today, we can see a shift in goals from just a few years ago. Gifting is creative: kids donating their big events for causes rather than spending on lavish parties. There’s less desire among graduates to plunge into big-money-making endeavors rather, there is genuine interest in giving back.
Stocks opened higher Monday as banks continued their winning streak and Federal Reserve Chairman Ben Bernanke's weekend remarks that he expects the economy to start recovering next year spurred optimism.
Stock index futures indicated a higher open for Wall Street, with investors optimistic after Federal Reserve Chairman Ben Bernanke said he expected the economy to start recovering next year.
With AIG set to pay $165 million in bonuses to workers at the unit that nearly brought it down, the list of the insurer's counterparties shows that big European banks were among the top beneficiaries of the taxpayer-financed bailout.
AIG, the insurance giant that received taxpayer-funded bailouts worth $173 billion and sparked a political storm with its plans to pay $165 million in bonuses, revealed the list of its counterparties.
US Markets recorded their best week since November, riding four consecutive days of gains, making traders question whether we have found the bottom or if this is merely a bear bounce.
That's the only debate on the Street right now, now that the S&P has rallied 10 percent in a week.
Carter Worth, Market Technician from Oppenhiemer, takes a look at the down-trends and breaks down what it means for the markets.
Stocks rose for the third day straight on Thursday, marking the biggest three-day gain since November. Markets were up across the board, led by Bank of America and General Electric.
In today’s Fast Money Final Call, Matt Nesto spoke with Carter Worth, Chief Market Technician at Oppenheimer Asset Mangement about the current rally and where the market is headed from here.
Plus, Cramer makes the call on Goldman Sachs, General Electric, Apple, Citigroup and more.
Here’s what we need to keep stocks moving in the right direction.
Is it time to turn cautiously optimistic that the worst for banks is behind us? Or is that just wishful thinking?
Stocks rose for a second day on Wednesday after JP Morgan Chase said the bank was profitable in January and February, echoing comments by Citigroup a day earlier.
Wall Street found its voice today, after months of stewing in silence as pundits and politicians pelted the financial industry with withering criticism, punitive salary caps and pious second-guessing.
One of the principles of technical analysis is that consolidation (read: sideways) after a strong up or down move is supportive of the trend.