UBS will now plead guilty to rigging foreign currencies along with 4 other banks. Is a crackdown long overdue? With Andrew Stoltmann of Stoltmann Law Offices and Marc Lopestri of Lopresti Law Group.» Read More
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.
Stocks declined Wednesday as disappointing economic data added to the weight on investors shoulders over the strained credit market and haggling on Capitol Hill.
Stocks opened lower Wednesday, with investors at the mercy of progress on the proposed government financial bailout package.
Stocks looked set to start Wednesday in the red with investors at the mercy of progress on the proposed government financial bailout package.
In a mood reminiscent of WaMu-JP Morgan, the FDIC says Citi is buying Wachovia's banking operations, and assume the senior and subordinated debt.
Stocks logged a 200-point gain amid news that lawmakers are close to reaching an agreement on a Wall Street bailout.
Stocks shot up after a report that lawmakers are very close to reaching an agreement on a Wall Street bailout.
Stocks rallied Thursday amid hopes that a bailout will get passed this week. However, gains were curbed by worries about General Electric's lowered outlook and misses in two key economic stats.
Stocks opened higher Thursday amid hopes that a bailout will get passed today. However, gains were curbed by worries about General Electric's lowered outlook and misses in two key economic stats.
Futures cut their gains in half after two economic reports — jobless claims and durable-goods orders — missed their targets and General Electric lowered its outlook. But they still pointed to a higher open for Wall Street as hopes for progress on the government's proposed bailout for the financial system grew, despite uncertainty about how the $700 billion plan would work.
Everyone and their mother’s favorite industry observer are calling Morgan Stanley and Goldman Sachs’ status switch to holding companies the end of the large independent investment bank as we know it.
Futures are down slightly, but that has little meaning these days. Many traders feel that yesterday's drop was due to: 1) distortions in price discovery created by the changing short sale rules; 2) the realization that many banks are still undercapitalized.
This week's wild ride on Wall Street literally mimicked a rollercoaster ride: a couple of stomach-turning drops before coasting to the end and dropping you off exactly where you started. After being down by nearly 1000 points at Wednesday's close, the Dow clawed back those 1000 points in the following two days leaving the blue-chip index off just about 40 points from where it ended last Friday!
If you’re looking to trade during this mess you'll want to get far away from Wall Street. But how far?
Stocks whipsawed back into positive territory after regulators in the US and Europe took aim at short sellers and progress continued toward resurrecting the Resolution Trust Corporation to dispose of bad bank assets.
The Fed, the European Central Bank, Bank of England, Bank of Japan, Bank of Canada, and the Swiss National Bank are all pumping dollars into the global system. Fed made an additional $180 billion available to central banks to lend out.
U.S. stock index futures dropped as fears mounted over the capital position of American International Group.
There is a certain air of disbelief on the Street today concerning AIG. Bank of America's analyst epitomized this: "AIG is facing a near-term liquidity issues, as opposed to solvency issues," a report this morning said. All insisted they have plenty of assets to sell.
Stocks had their worst selloff since the Sept. 11 attacks in 2001, with the Dow plummeting more than 500 points amid escalating fear about a collapse of AIG.
Stocks fell sharply at the opening bell Monday after a trifecta of Wall Street pain: Lehman Brothers filed for bankruptcy, Merrill Lynch was bought by Bank of America and AIG asked the Fed for short-term financing.