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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.
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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.
Stocks opened lower Monday as Friday's euphoria cooled with investors realizing that financial woes could go on for quite some time and a fresh wave of new developments emerged.
Much has been made in this Presidential campaign – and much more will be made – about the value of experience and who is qualified to lead. Often, relative youth is cited as a negative.
Minutes after Microsoft's news to launch another $40 billion stock buyback and raise its dividend by 18 percent, Hewlett-Packard and Nike both announced major new buybacks of their own. And all of this may serve as a clarion call to other cash rich tech companies to start sharing their wealth.
Futures are practically unchanged, with many traders noting this morning that hedge fund and mutual fund companies are continuing to see redemptions, and the profit outlook is still poor. As a result, there is debate about how strong buying interest will be here.
"What we’ve really seen over the last three or four years is greed gone wild, and now we’re paying the price for it in a monster hangover..."
For the historic week ending Friday, September 19, 2008, the major U.S. Indices managed to close mixed and almost flat after one of the most volatile trading weeks ever, driven by the collapse of investment bank, Lehman Brothers, enormous government actions around the globe, and billion dollar deal making. In one week, the government bailed out AIG, pumped funds into money markets, and banned short selling of financials - all while keeping the Fed Funds target unchanged and taking unprecedented actions to halt the liquidity crisis. The CBOE Volatility Index (VIX) surpassed the benchmark level of 30, hitting an intraday high of 42.16 on Thursday, its highest level since 10/2002. The major indices were all up and down +/- 3% for 4 of the past 5 days. The Dow posted a 2 day point move of more than 778 points as of Friday’s close, after plummeting 811 between Monday and Wednesday and hitting 10,609.66, its lowest level since 11/9/2005. On Friday, The Nasdaq Composite recorded a 2-day point move of greater than 175 points after it closed down 109.05 points on Wednesday, its first triple digit decline for one day since it began trading after the 9/11 attacks. The S&P 500 flirted with record territory closing up 98.7 over the last two days, marking its biggest 2-day point move since 3/16/2000, the largest 2-day point move ever.
On a week where Financials once again dominated the market with unprecedented moves by the U.S. government, the Dow trades in an over 1000 point range for its biggest 2-day gain since March, 16, 2000.
HP is resurrecting the "Dude, You're Gettin' a Dell" campaign, which wasn't the brightest point in Dell's history, and now it's being used against it.