After record-setting snows kept homes off the market and buyers inside, home sales in Boston were up nearly 9 percent in June from a year ago.» Read More
Stocks ended lower as hoopla over the government's plan to buy stakes in the nation's largest financial institutions died down and worries about earnings crept in. The Dow ended down just 75 points after swinging in an 850-point range. The tech-heavy Nasdaq lost 3.5 percent.
The Bank of New York is expected to be named the master custodian firm overseeing the Treasury Department’s bailout fund, the New York Times reports.
The government is starting to purchase stakes in financials, so should investors follow suit? Michael Cuggino, manager of the Permanent Portfolio Fund, says yes.
Stocks shot out of the gate Tuesday, a nice chaser to the Dow's biggest one-day point gain in history, after the government announced a plan to buy stakes in the nation's largest financial institutions.
Wall Street looked set for another rally Tuesday, after the Dow recorded the biggest one-day point gain ever on Monday, as world markets continued to surge.
Wall Street ended its worst week in seven years with another tumble on Friday...
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
For the historic week ending Friday, September 19, 2008, the major U.S. Indices managed to close mixed and almost flat after one of the most volatile trading weeks ever, driven by the collapse of investment bank, Lehman Brothers, enormous government actions around the globe, and billion dollar deal making. In one week, the government bailed out AIG, pumped funds into money markets, and banned short selling of financials - all while keeping the Fed Funds target unchanged and taking unprecedented actions to halt the liquidity crisis. The CBOE Volatility Index (VIX) surpassed the benchmark level of 30, hitting an intraday high of 42.16 on Thursday, its highest level since 10/2002. The major indices were all up and down +/- 3% for 4 of the past 5 days. The Dow posted a 2 day point move of more than 778 points as of Friday’s close, after plummeting 811 between Monday and Wednesday and hitting 10,609.66, its lowest level since 11/9/2005. On Friday, The Nasdaq Composite recorded a 2-day point move of greater than 175 points after it closed down 109.05 points on Wednesday, its first triple digit decline for one day since it began trading after the 9/11 attacks. The S&P 500 flirted with record territory closing up 98.7 over the last two days, marking its biggest 2-day point move since 3/16/2000, the largest 2-day point move ever.
The Dow surged higher on Thursday on optimism about a possible government resolution to the financial crisis. But the traders might have found the next shoe to drop.
(That's Balance Sheet, of course.) As Morgan Stanley, Genworth, State Street, WaMu and others are feeling the squeeze, I feel the need to dispel some myths that are crippling Wall St. and arguably the world.
Which stocks were unfairly punished during Monday’s monster sell-off?
As we await the fate of Washington Mutual, the pipeline of troubled institutions is filling up. I mentioned Audit Integrity earlier this week in a post on Downey Financial, and later the firm reached out to me to explain that it considers Downey very risky from an accounting and governance perspective.
Massachusetts' $50.6 billion pension fund on Wednesday fired a Legg Mason unit run by fund manager Bill Miller and four other fund firms from managing a $1.8 billion U.S. stocks portfolio due to poor performance.
Nearly 1.3 billion shares and $13.5 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Stocks closed lower following a zig-zag day marked by a plunge in oil and a barrage of statements and news from economic policy makers, and a resurgence for the beaten-down financial sector.
Stocks fell sharply after Federal Reserve Chairman Ben Bernanke issued a dour forecast ahead for the US economy, saying more hard times are on their way that will pose a major challenge to policy makers.
State Street, one of the world's biggest institutional money managers, said on Tuesday that second-quarter profit rose amid more demand for its services, which helped the company report record revenue.
It was an ugly first half for the stock market and now that the goal posts have been moved for the economic recovery, expect a rough game in the second half.
Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. Chartered by John Hancock on one of the most famous streets in Boston, this company has grown to be the largest money manager in the world for institutions. But the stock has had more setbacks than “the big dig” this year due to the ongoing credit crunch. Who is it?