Are stocks so oversold that data, which is nothing more than 'less terrible than feared,' be enough to generate a major market rally?
It's another rough day for Bank of America.
Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, the New York Times reports.
In a global economy that has been plagued by troubles in the world’s financial systems, the words “safe” and “bank” still give investors pause. The shakeup of banking systems around the world raises the question: "Which banks are the safest?"
Banks that successfully weathered the last financial crisis are in a better standing to ride out the next three years, said Jason Goldberg, managing director and banking analyst at Barclays.
Dennis Gartman, of The Gartman Letter, counters Wells Fargo's claim today that gold is in bubble territory.
The Securities and Exchange Commission may have destroyed documents related to investigations into major banks and hedge funds, according to Senator Chuck Grassley of Iowa.
The Dow and S&P closed near the flat line after toggling between small gains and losses for most of the afternoon in light volume trading Wednesday. The Nasdaq fell, however, as tech stocks dragged on the market.
The deadline for ending temporarily higher loan limits at Fannie Mae, Freddie Mac and the FHA is October 1st, but they are effectively ended now. A Wells Fargo spokesman confirms, "August 15th was the deadline for applications and rate locks for FHA and conventional conforming loans with balances above the limits we expect will be in place after September 30th."
During the past month, investors have overreacted to the downside in their trading of the financial sector, and now is the time to buy, says Robert Albertson, chief strategist at Sandler O'Neill.
Stocks staged a late-day comeback from session lows Tuesday after traders were disappointed by comments from Sarkozy and Merkel, but the gains were not enough for the market to finish in positive territory.
Warren Buffett's Berkshire Hathaway added a new stake in Dollar General during the second quarter. At just $48 million, however, the relatively small size of the stake indicates Buffett himself did not pull the 'buy' trigger.
Stocks finished higher Friday in a highly volatile week, with the Dow logging its first two-day rally since early July. Despite the wild market swings in the last several days, all three major averages are down less than 2 percent for the week.
The traders placed 2 banks on the radar Wednesday as financials struggled to find a footing. Which two names do pros think appear to be oversold?
Analysts point out that U.S. banks have become much better capitalized than they were during the financial crisis of 2008. But shares of US major banks continue to move sharply lower.
Bank of America shares bounced Tuesday, after plunging 20 percent a day earlier after influential financial analyst Mike Mayo downgraded the shares, citing the need for the firm to raise capital to cover mortgage-related settlements.
Stocks saw its biggest one-day gain since May 2010 Tuesday after a wild market session as investors snapped up beaten-down stocks and following a Fed statement to keep interest rates near zero for at least two more years.
Futures pointed to a higher open Tuesday, indicating a comeback from the previous session's steep nosedive, as investors looked ahead to the Federal Reserve's statement later this afternoon.
Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.
Bank of America shares hit their lows of the day shortly after influential financial analyst Mike Mayo downgraded the stock, citing the need for the firm to raise capital to cover mortgage-related settlements.