Futures indicated a slightly lower open for Wall Street Tuesday ahead of a slew of earnings and Federal Reserve Chairman Ben Bernanke's Capitol Hill testimony.
Stocks rallied to the finish line Monday after a wobbly morning as a CIT deal to avert bankruptcy and strong earnings gave investors cause for optimism.
The S&P is sitting right at its highest levels since November. The central thesis is earnings: P/E multiples will expand in the next several quarters due to the combination of cost cutting and gradually rising revenues.
A strong start for stocks began to peter out Monday, though CIT continued to rally.
Stocks opened higher Monday as investors were cheered by news of a deal that will avoid bankruptcy for commercial lender CIT Group and a better-than-expected start the earnings season.
Futures indicated a positive open for Wall Street Monday as investors were cheered by news of a deal that will avoid bankruptcy for commercial lender CIT Group.
Stocks ended flat Wednesday as tech and consumer stocks rebounded but banks dragged after a credit downgrade on more than a dozen companies.
Stocks ticked higher Wednesday as consumer stocks rebounded after a tame inflation reading but banks still dragged after credit downgrade. FedEx skidded after it issued a weak outlook.
Credit ratings agency Standard & Poor's on Wednesday cut ratings on 18 banks amid concern about further weakening in the financial sector.
Plus, Cramer makes the call on a US energy grid build-out and more.
April pending home sales of existing homes - which measures contract signings--stronger than expect - April, up 6.7 percent, much better than expectations of a gain of 0.5 percent.
Cramer makes the call on viewers' favorite stocks.
As Goldman Sachs, Morgan Stanley, and JP Morgan Chase are amongst the first banks expected to pay back the TARP, the S&P Financials have been leading the charge since this rally began. But which banks have been the best performers of late?
Even though Warren Buffett always says he likes stocks more when they're cheaper, he didn't do a lot of buying as Wall Street's major indexes fell to their bear-market lows (so far) in early March. Berkshire Hathaway's first quarter stock portfolio snapshot shows no blockbuster buys. A few stakes did, however, get bigger during the first three months on the year.
Big banks aren't the only ones under stress—their smaller competitors also need to raise billions in capital to meet tighter government standards but may have trouble doing so, some analysts believe.
As the markets look forward this week to the results of the stress tests, many believe the worst is past us and the rally will continue. Here is a look back at where many of the financials stand today relative to where they were just before Lehman Brothers went under.
The Lightning Round is extended in this CNBC.com exclusive feature.
In a conversation published today focusing on why he likes Wells Fargo, Warren Buffett told Fortune's Adam Lashinsky: "We own stock in four banks: USB, Wells, M&T, and SunTrust." That raised a question. What about the five million Bank of America shares owned by Berkshire Hathaway as of the end of last year? We now have the answer to the 'mystery' of the 'missing' B of A shares, straight from Buffett himself.
Warren Buffett says you should judge a banker by how they bank, not by their speeches or PR: "It's what they do and what they don't do. And what Wells (Fargo) didn't do is what defines their greatness." Buffett tells Fortune's Adam Lashinsky that Wells didn't do "dumb things" just because all the other banks were doing them.
On the heels of better than expected earnings from Citi and BB&T most banks are trading on the upside today. Following upside surprises from JP Morgan, Goldman Sachs, and Wells Fargo, bank stocks are again posting gains for the week.