Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.» Read More
Stocks rallied on the first day of the fourth quarter as new fund inflows and rising hopes for further Fed rate cuts catapulted the Dow into record territory. "Given that Citigroup and UBS reported bad news yet the market still went up, the market is telling us is that all the bad news is already in there," said Douglas Peta, market strategist at J. & W. Seligman.
Bears are besides themselves today. One wrote to me: "If you told anyone that the market would have made a new high with gold, oil, dollar, falling home prices, etc...there would be many takers on that bet."
Citigroup, the largest U.S. bank by market value, said Monday its third-quarter net income will drop 60% on losses and writedowns stemming from subprime and leveraged loan woes.
UBS, the world's largest wealth manager, unveiled $3.4 billion in losses, swept out senior managers and slashed jobs in one of the biggest casualties yet from the worldwide credit crunch.
Profit warnings from banks hit by U.S. subprime-related losses are likely to continue throughout the quarter, Elissa Bayer, director of private clients at Insinger de Beaufort, told "Worldwide Exchange" Monday.
Good morning. As we begin the fourth quarter--traditionally the strongest--there are two topics on trading desks: 1) earnings season, and 2) to what extent the U.S. slowdown will spread to the global economy.
European stocks were seen retreating on Monday on renewed concerns over the outlook for banks after UBS warned it will post a pretax loss of between 600 million and 800 million Swiss francs in the third quarter as it writes down positions.
Technical analysis is becoming a mainstream way to time and predict stock moves and market tops and bottoms. Carter Worth, chief market technician at Oppenheimer, joined the panel to explain what he’s seeing – and where he thinks we’re going.
A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.
Honeywell, Goodyear, Cummins, US Bancorp and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
CNBC's Bob Pisani reports on what traders are telling him before the market opens: The European Central Bank for a fourth day needed to add extra cash into the overnight lending market. But the action is working. Overseas markets are largely calm.
Swiss bank UBS, the world's largest wealth manager, beat forecasts with record second-quarter profits but warned that market turmoil was likely to hit its investment banking business in the second half of the year.
U.S. regulators are scrutinizing the books of Wall Street's largest investment banks amid questions they are hiding losses from subprime mortgages, people familiar with the inquiry said.
U.S. mortgage roadkill is fresh and ripe for the picking. Countrywide Financial demonstrated that on Tuesday when it announced plans to buy five retail mortgage branches from HomeBanc, which is exiting the business after its stock was delisted last week for trading around 30 cents a share.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.
UBS agreed to pay $23.3 million to resolve accusations the Swiss bank and brokerage steered thousands of inappropriate customers into fee-based accounts, the New York Attorney General's office said on Monday.
UBS is preparing a new growth initiative in the United States that may include acquisitions as it seeks to bolster its investment banking and wealth management business, the Swiss group's chairman said on Sunday.
Stocks posted the best weekly gains in three weeks, closing Friday near the best levels of the day as new economic data showed moderate jobs growth, easing worries of a slowing economy. "The jobs number was pretty decent, it was probably as good as we could have expected," said Charles Rotblut, market analyst at Zacks.com.
UBS quickly drew a veil over the real reasons for the sudden resignation of Chief Executive Peter Wuffli, but traders said it may be linked to the embarrassing closure of a hedge fund earlier this year.
Jobs data will drive direction on what would otherwise be a quiet summer Friday. For now, Wall Street looks firmly higher and world stock markets are mostly in positive territory. China's Shanghai index bounced back after a 5.5% decline yesterday.