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Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $118 a barrel after earlier topping $120.
Stocks opened higher Thursday after the second reading on second-quarter GDP showed growth was more robust than first thought. Tropical Storm Gustav, which is readying to move back to hurricane status and heading toward the Gulf Coast, continued to hover over the market and bump up oil prices.
U.S. stock-index futures rebounded Thursday after the second reading on second-quarter GDP showed growth was more robust than first thought. Tropical Storm Gustav, which is readying to move back to hurricane status and heading toward the Gulf Coast, continued to hover over the market and bump up oil prices.
Futures popped about 6 points at 8:30am ET, as preliminary second quarter GDP of 3.3 percent seems to have ended talk of a "formal" recession. MBIA up 17 percent pre-open, as it agreed to reinsure $184 billion of municipal bond risk from FGIC (its competitor). MBIA gets $741 million in premiums. Ambak up 13 percent in sympathy. And retailers continue to report very mixed results.
Thursday's markets will be quiet, but there are a few important undercurrents investors are watching.
All major U.S. Indices ended the week in positive territory, led by a 4.46% gain in the NASDAQ Composite Index. Commodity prices continued to fall broadly across the board, with oil prices tumbling $9.90 this week.
Stocks finished lower Monday, as weakness in financials and energy stocks overpowered a sharp drop in oil price typical of what usually pushes the market higher.
Wall Street whale Bill Ackman is known to patiently stalk his prey for years. Yes, beneath his smooth exterior and soft-spoken demeanor lies the heart of a killer. Should you trade in his wake?
The most troubling aspect of the business is that they don’t own the intellectual property of many of the brands they made their name on and have lost some of the licensing contracts that once generated so much business for them.
U.S. apparel chain Steve & Barry's Chapter 11 bankruptcy filing last week is likely to lead to its liquidation, The Wall Street Journal said on Monday citing people involved in the case.
The New York Post reported this morning that New York Knicks guard Stephon Marbury, who popularized low cost basketball shoes with his "Starbury" brand at retailer Steve & Barry's, spent Wednesday in Seattle signing a deal with Amazon to sell the sneakers on their web site.
The Dow closed higher Tuesday after GM surprised Wall Street with stronger-than-expected June sales and financial shares reversed earlier losses. What's the "Word on the Street?"
Following are the week’s biggest winners and losers. Find out why shares of Anheuser-Busch and Exxon Mobil popped while Boeing and Yahoo! dropped.
Until these companies start closing down stores, Cramer says sell, sell, sell.
Q: On Fast Money's Trader Radar we look at the stock that was lighting up screens across Wall Street today. Introduced to the world in 1985 by Sears, this company is now the third largest credit card issuer after Mastercard and Visa. But investors today were left wondering if it really did pay to own this stock, as the company said customers were falling behind on payments. Who is it?
Good news for American Apparel: the company was able to reach an agreement on a new mended credit agreement with its lead bank. It is a positive in this tight lending environment to see a company lock in a credit line or letter of credit.
Cramer makes the call on viewers' favorite stocks.
Stocks closed with solid gains, though well off their highs, amid strength in the financial sector and a big decline in oil prices.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
Sears Holdings Chairman Eddie Lampert himself said that he didn’t see a near-term turnaround in the consumer economy and admitted that sales were below where the company wanted them to be.