History shows you can bank on financials to rise on Thursday.» Read More
Stocks closed lower Wednesday, led by financial and auto stocks after worrisome results from Morgan Stanley, CarMax and FedEx. Regional banks also took a hit after Fifth Third cut its dividend.
Stocks declined Wednesday, led by financials, after worrisome results from Morgan Stanley and a dismal outlook from FedEx. The Dow briefly slipped below 12,000 -- the first time that's happened since March 18, when the market was reeling from the collapse of Bear Stearns.
Stocks opened lower Wednesday as investors booed results from Morgan Stanley and a dismal outlook from economy gauge FedEx.
Goldman Sachs sent a note out late last night with this title: Key is Likely Not Alone, More Capital Raises and Dividend Cuts to Come. They specifically mentioned Regions Financial, Fifth Third, Comerica, Bank of America and SunTrust
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Fast Money takes Chicago just as commodities have a breakout week with oil hitting a new high and raw materials making a resurgence. Find out how to trade it all here.
Stocks finished flat as a new record for oil prices overshadowed a better-than-expected report on housing. Still, for the week, all three major indexes managed decent gains: The Dow Jones Industrial Average climbed nearly 2 percent; the S&P 500 index advanced about 2.5 percent and the Nasdaq jumped more than 3 percent.
Increasing numbers of Americans are simply walking away from their houses and mortgages, increasing pressure on banks and the economy.
Several U.S. regional banks reported better-than-expected quarterly results Tuesday, and expressed confidence they could withstand soaring credit losses as the nation's housing market and economy slump.
With April 15 here, many of us have finished our taxes and can again think about other financial matters. Perhaps you are considering taking your refunds and investing them in the markets. Here is how the market has performed historically on and after tax day.
Financials are again the weak link today as all the gains of last week are now essentially gone. Weakness in Lehman, as well as a continuing campaign by Oppenheimer analyst Meredith Whitney to take down bank estimates, are weighing on financials.
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Nonfarm payrolls up just 18,000, well short of expectations of 70,000, weakest since August 2003. The November number was revised upward to 115,000 from 94,000 and futures dropped ten points initially. The dollar weakened.
Will Citigroup cut its long established dividend? Not even remotely possible, says one analyst.
Stocks closed sharply higher after a rebound by the battered financial sector spread across the entire market.
Several large U.S. banks reported slowing profit growth on Tuesday amid struggles with interest-rate pressures and rising loan losses, including from mortgages. Wells Fargo, the fifth-largest U.S. bank, bucked the trend, boosting profit 11% despite its large exposure to the struggling mortgage sector.
New York Attorney General Andrew Cuomo's office expanded a sweeping investigation into the student loan industry with subpoenas and information requests to 13 more lenders, including some of the largest U.S. banks. Among them: Bank of America; Citizens Financial Group, a unit of Royal Bank of Scotland; JPMorgan Chase; National City; PNC Financial Services Group; Regions Financial; SunTrust Banks; US Bancorp; Wachovia and Wells Fargo. Cuomo's office also sent inquiries to three closely-held student lenders: Access Group, College Loan Corp. and EdFinancial Services.