The ailing banking system is at the top of the Obama Administration's agenda Wednesday, after worries about the sector Tuesday handed the stock market its worse Inauguration Day losses ever.
All that pre-inauguration hope disappeared Tuesday, as the Dow plummeted in the triple digits on the new president's swearing in.
Financial stocks are seeing huge options activity Tuesday, led by State Street, which is down roughly 50 percent after reporting a 71 percent drop in fourth-quarter earnings. Options volume for STT was six times normal this morning. Also: Options action looks at PNC Financial Services, Bank of America and JPMorgan.
Wall Street ushered in the Barack Obama presidency with a substantial drop in the Dow, amid fresh signs the global bank crisis is far from over.
The Dow ended below 8,000 for the first time in two months as bank stocks took a beating over profit worries.
For the week: Dow down 3.7 percent, S&P 500 down 4.5 percent, NASDAQ down 2.7 percent. The good news was that, on an options expiration day, most major sectors were to the upside.
Cramer makes the call on viewers' favorite stocks.
The list of investors who say they were duped in one of Wall Street's biggest Ponzi schemes includes some of the world's biggest banks and hedge funds, the super rich and the famous.
Options traders are bearish on State Street, trading January puts in heavy volume. The financial services firm has seen a daily average of 1,800 put contracts over the last 30 days, but 14,000 traded in just the first 90 minutes of the session...
The market may seem boring today, but look under the hood--something is happening. That "something" is rotation: traders are looking to buy some stocks and sectors, and sell others.
The Treasury Department's $700 billion bailout plan, also known as the Troubled Asset Relief Program (TARP), is one of the main U.S. tools to address the financial crisis.
The American Bankers Association complained on Thursday that bankers around the country were “extremely upset” about how the Treasury Department was trying to offer them billions of dollars in fresh capital, say the New York Times.
Cramer explains how our markets have managed to stay afloat (somewhat) while other countries continue to plummet.
Stocks ended the day significantly lower but avoided a catastrophe, as an orderly selloff staved off what some thought would be a massive market capitulation.
Like we told you days ago consolidation in the financial services sector appears to be taking hold.
The equity market collapse began in the Far East as Sony shares slide 14 pct after they issued a profit warning. The electronics maker cut its profit forecast in half as the strong Japanese yen and the ongoing credit crisis is hurting demand for its cameras and flat TVs.
At least there was some good economic news today: both CPI and core CPI were below expectations, so inflation concerns are indeed receding.
Stocks will take their cue from credit markets in the week ahead and whether they are responding to any of the government's efforts to thaw the glacial credit freeze.
The US Treasury’s plan to inject cash directly into banks may be more effective in battling the credit freeze than having the government buy the banks' troubled mortgage debt ... provided the right banks get the cash.
Getting dumped stinks. You think you’ve found a wonderful partner only to realize those feelings aren’t returned. Poor Citigroup! Find out what Dick Bove has to say about the mess.