After a judge ruled that the city can proceed with its historic bankruptcy, the stage is set for an epic legal battle over who helps pick up the tab.» Read More
Two days after Federal Reserve Chairman Ben Bernanke got a vote of confidence from the markets for the Fed's half point rate cut, he and Treasury Secretary Henry Paulson head to Capital Hill for a hearing on the mortgage mess. They appear before the House Financial Services Committee starting at 10 a.m. Thursday.
Finding a Wall Street analyst who recommends selling Goldman Sachs (GS) is about as hard to find as Big Foot. In fact, only one made that call and we tracked him down!
Chatter on the street is that Goldman Sachs can't help but beat Wall Street's estimates when it reports earnings tomorrow. For that reason, it's one of the few in the brokerage group still holding onto gains at the close. Goldman stock closed up 2.5%. Bear Stearns, also reporting tomorrow, fell 3%. Morgan Stanley was down 2% after a disappointing report this morning, and Lehman was down a half a percent. Merrill Lynch though was 1% higher.
The positive momentum continues, with 2-1 advancing to declining stocks. Charles Biderman at Trimtabs.com called to say that mutual funds had $10.4 billion in inflows yesterday, the biggest since Jan 4, 2001. That money was put to work today, for the most part.
Did the Fed, in one fell swoop, cure Wall Street of all its credit crunch ills? CNBC's Charlie Gasparino joins the panel to discuss whether it’s safe to buy the brokers.
A relatively tame inflation number and no mean surprises in Lehman Brothers earnings this morning is giving support to stocks ahead of the Fed's momentous decision today. Traders are also watching oil prices crack yet another record level.
Goldman Sachs and its investment banking partner in China may part ways, potentially raising questions about future control of the Wall Street firm's business there, the Wall Street Journal reported on Monday.
Trading should stay tentative ahead of the Fed's Tuesday afternoon announcement. But before that news, Wall Street will have to navigate the first big earnings from the brokerage industry and some important economic data, including inflation measure, producer prices.
Goldman Sachs on Monday forecast U.S. oil prices will surge to $85 by the end of the year, and said crude could climb as high as $90 due to tight supplies.
A slew of big brokerage houses report earnings next week with Lehman Brothers leading the pack Tuesday morning. One research firm has put out an interesting method of trading the financials – one with high risk, but high potential returns.
Cramer said there are three possible outcomes. These are his strategies for playing each one.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Merrill Lynch warned on Friday that shaky credit markets forced the world's largest brokerage to reduce the value of securities linked to risky subprime mortgages and other products, a move that could hurt third-quarter profit.
Goldman Sachs' flagship Global Alpha hedge fund sank 22.7% in August, the worst month in its 12 years of operation, the Wall Street Journal reported Friday, citing a letter from the fund to investors.
Fasten your seatbelt. Investors face a number of market-moving events next week, including a Federal Reserve meeting on interest rates, major bank earnings and "quadruple witching" in options and futures markets.
Mysteriously this week, a British born billionaire named Joseph Lewis took a 7% stake in Bear Stearns. What's behind this purchase and are big changes afoot at the Wall Street bank hurt most by the collapse in the mortgage market?
While the general feeling is that this will be a quiet two days due partly to the Rosh Hashanah holiday, there is a fly in the ointment: next week's quadruple witching expiration (the quarterly expiration of index futures and options, and individual stock futures and options) coupled with the Fed meeting has a lot of traders nervous about expected high levels of volatility...
Stock prices are shifting into high gear as a GM upgrade and a dividend boost from McDonald's helps sentiment. The dollar is firming slightly and oil trades near record levels. Europe's stock markets turned higher after early losses, and Asian markets were mostly higher overnight.
Rarely does an analyst come out and say exactly what he is thinking...all the more unusual, then, when Punk Ziegel analyst Richard Bove started this morning's note to clients regarding Goldman Sach's upcoming earnings report by saying: "I am incapable of estimating the firm's short-term earnings results accurately.
Countrywide Financial is seeking a second multi-billion dollar bailout plan, as it continues to struggle because of the global credit crunch and a contracting U.S. housing market, the New York Post reported on its Web site on Tuesday.
The market plunged Friday after government data showed the first decline in jobs since 2003. Is the economy falling apart and with it, this bull market?