Media investors are trying to figure out what to do with News Corp as new developments in the hacking scandal surface almost every day.
Stocks came off session lows, but still finished sharply lower Monday, as bank stocks slumped amid ongoing macroeconomic concerns and ahead of a big earnings week.
Stocks were off session lows in the final hour of trading Monday but were still lower, led by banks, amid ongoing debt concerns in Europe and the lack of progress in U.S. debt-ceiling negotiations.
Stocks tumbled more than 1 percent Monday, led by banks, amid concerns over debt problems in the United States and as the debt crisis continue in Europe, causing investors to move into safe haven assets like gold, which hit another record high.
See what's happening, who's talking and what will be making headlines on Monday's Squawk on the Street.
Futures were lower Monday amid concerns over debt problems in the United States and Europe, causing investors to move into safe haven assets like gold, which hit another record high.
News Corp is facing heightened legal risks in its home US market over the phone hacking and police bribery scandal after the arrest of Rebekah Brooks, the former News International chief executive, but legal analysts believe US authorities are unlikely to take rapid action against the company. The FT reports.
Stocks closed higher in thin trading Friday, but snapped a two-week rally amid ongoing uncertainty over the government's ability to reach a debt-reduction deal and some growing concerns over the economy.
Stocks were mixed Friday in light trading as results of the European bank stress tests came out slightly better-than-expected, but gains were limited after some disappointing news on consumer confidence.
Stocks turned positive Friday, led by gains in the energy sector, after investors digested some disappointing news on consumer confidence.
With revelations that some within News International’s ranks were not only dirty but criminal, Les Hinton is coming under scrutiny for what he did and did not know when he ran the company from 1995 until 2007, the period when the most egregious known examples of voice mail hacking by News International employees took place, the New York Times reports.
Stocks were poised to open higher Friday, despite some tepid economic news, as futures were buoyed following strong earnings from Citigroup.
Stocks finished lower Thursday for the fourth session in five after Bernanke said the Fed is not prepared to take further action and amid ongoing concerns about the U.S. debt ceiling, erasing earlier gains fueled by encouraging economic news as well as strong earnings from JPMorgan.
Stocks declined Thursday after Bernanke said the Federal Reserve is not prepared to take further action on the economy and amid ongoing concerns about the U.S. debt ceiling.