Wall Street’s banking giants JPMorgan Chase and Goldman Sachs turned in better-than-expected earnings for the first quarter, leading many investors to hope that the beleaguered sector is over the worst of its troubles.
Early morning earnings reports from Citigroup and General Electric, and an update on GM's restructuring, are the key hurdles for stocks Friday.
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The financials have rallied 35% in the past month on upside surprises. But how much longer can banks continue to wow the Street?
Stocks ended a rocky session higher Thursday as investors were encouraged by JPMorgan's results and techs rallied amid anticipation of better results from Google after the bell.
After good news from Goldman Sachs and Wells Fargo, should you buy the financials? Jon Fisher, portfolio manager at Fifth Third Asset Management, offered CNBC his outlook for bank stocks.
No doubt General Growth Properties' bankruptcy filing will have far-reaching implications for commercial real estate. The bankruptcy, which is said to be the largest real-estate failure in U.S. history, will further pressure already stressed property values for U.S. malls and mall mortgages and spark further consolidation.
Gold was on the rise Thursday as investors climb back into safe haven stocks amid the economic uncertainty. Experts tell CNBC the precious metal may retest $1,000.
The Dow advanced Wednesday, boosted by an encouraging "beige-book" report from the Federal Reserve, a better-than-expected manufacturing report from the New York Fed and as Procter & Gamble raised its dividend. Techs remained underwater as Intel's lack of guidance rattled the sector.
Wall Street's belief that bank stress-testing would be a non-event for the stock market has changed, and investors may not like the results.
The markets are trying to stay focused on the good news. Since the closing low on March 9th, the S&P 500 has not seen any decline of more than two days duration.
Around lunchtime Wednesday the Dow traded higher with JPMorgan among the strongest names in the blue chip index.
Stocks opened lower Wednesday as Intel's after-hours earnings report the day before dragged down tech stocks and a warning from Wal-Mart hit the broader indexes.
Art Cashin, floor manager for UBS Financial Services, offered CNBC his insights into what traders expect for Wednesday.
Second-day comments on the numbers from Goldman Sachs were significantly less enthusiastic, with fresh questions about the integrity of the stress tests, new worries about runs on banks that scored low on the stress tests. One pro added a new letter to the recession alphabet; others were more optimistic, but still wary about the financials, and suspicious that the market is overbought and ready for some profit-taking.
Stock futures indicated a mixed open Wednesday as Intel's after-hours earnings report the day before dragged down tech stocks.
With the US government set to release the results of the FDIC bank stress tests, there's great concern over who will be the winners and losers. What will the government force the losers to do if they don't meet capital requirements? What will the government force the winners to do to make sure the losers aren't ostracized in the repo markets?
Don’t look now, but those battered banks may just survive after all—if only our federal government would let them get out of jail.
Stocks are struggling against a wave of economic and earnings news, but traders say it's not a bad thing that the market is giving up gains this week.