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Stocks rebounded Tuesday amid hope that Congress will regroup and find a way to approve a $700 billion bailout plan for banks which it rejected on Monday. Financials rallied and Apple, one of the hardest hit techs on Monday, gained 4 percent.
Microsoft Chief Executive Steve Ballmer said on Tuesday the global financial crisis will sap consumer and business spending, affecting all companies, including his own.
The House rejected the Wall Street bailout bill and the market screamed, selling off frantically until the Dow was left with its biggest one-day point drop ever. "This is panic and ... fear run amok," Zachary Karabell, president of River Twice Research told CNBC. "Right now we are in a classic moment of a financial meltdown," he said.
I know most of you are beyond caring, but in the interest of full disclosure, my son this weekend threw in the towel on his Sony PlayStation 3 and returned to the Microsoft Xbox 360. Like an errant husband crawling back to his wife, he said, "I guess I should've thought this through."
Air fares are up, right? The short answer is yes -- 22 fare increases this year. But fares in some cities are flat or even down, as fierce competition keeps airlines from charging as much as they would like.
On a week with mounting anxiety over a $700 billion financial bailout plan, following regulators' decision to seize Washington Mutual in the biggest bank closure in U.S. history; the Dow, S&P and NASDAQ fell more than 2% for the week, but ended mixed on Friday.
There are downgrades, and there are downgrades, but I have never seen the kind of downgrade parade marching through Wall Street this morning related to Research in Motion and its stock.
To say that the optimism surrounding Research in Motion going into the company's second quarter earnings, reported just moments ago, was thick, is an understatement.
Stocks got an early boost from Buffett's vote of confidence in Wall Street but the meandering hearings on the bailout sucked the air out of the trading floor. By the closing bell, financials had fallen and only techs were left carrying the torch of hope.
Thursday will be a big day for Research in Motion as the company prepares to release its second fiscal 2009 quarterly earnings into a climate that's either really good, or really bad, for the wireless leader, depending upon who you believe on Wall Street.
The "Dream" name disappeared this morning, in favor of T-Mobile's "G1" moniker instead, a nod to the first handset powered by Google's mobile operating system dubbed Android. And now the market has to weigh whether this is merely another competitor available, or everything Blackberry and iPhone aren't.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Maria Bartiromo discusses Monday's top business and financial stories, and looks ahead to tomorrow's events. Oil prices, Lennar earnings, Goldman and Morgan Stanley, tech stock buybacks, the dollar slide and more!
The Dow tumbled on Monday as investors worried a $700 billion bailout for the financial sector may not resuscitate a slumping economy...
Stocks declined Monday as a more than $16 jump in oil prices exacerbated the selloff on Wall Street started by worries about the ability of the government bailout to revive the financial system.
Circuit City Stores Inc. says its chairman and chief executive is stepping down immediately.
Stocks declined Monday amid increasing worry about how far the government bailout plan will stretch and as oil prices shot up nearly $20 a barrel.
Miracle of miracles! Congress appears to be moving quickly on the Treasury bill. Rep. Barney Frank said that Treasury was accepting an equity stake in companies as part of the plan.
Stocks declined Monday as investors have begun to realize that, despite the government bailout, there's more pain to come.
For many assets, pricing is already being done, and this is the value of that rule last year that required mark-to-market accounting. We have recently seen marks on many portfolios of CDOs.