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CRAZY Money: It would have been hard to miss the 30-plus percent pop in shares of Wells Fargo today -- an astonishing rebound that added $22 billion dollars in market value to the beleagured bank. ... But what might have escaped your probing eyes today were the crazy gains made in the options market -- specifically, Wells Fargo Calls...
The financial-driven rally lost steam, leaving stocks mixed, as oil rebounded and the Philadelphia Federal Reserve reported weaker-than-expected manufacturing activity in its region.
Stocks continued to rally Thursday, fueled by better-than-expected housing data and after three Dow components beat earnings forecasts.
Are we at a bottom? Still not clear, but when you have rallies like yesterday, when you have Lowry, the oldest technical analysis service in the U.S., say to their clients, "The last two days appeared to represent a possible selling climax," you do get a lot of people nibbling, and today we are helped by Jamie Dimon and friends.
Asian markets rebounded but were off their highs Thursday, boosted by Wall Street's rally Wednesday and a decline in oil prices, providing some relief from fears about the global credit crisis spiraling out of control. Japan closed 1% higher.
These three strategies could put the economy back on track.
SEC's chairman Christopher Cox issued its emergency ruling against naked short-selling, and Wells Fargo reported surprisingly strong quarterly results and raised its dividends. Following are the day's top videos:
The Dow rallied on Wednesday after strong results from Wells Fargo lifted the entire banking sector to it’s biggest one day gain in almost two decades. What's the "Word on the Street?"
Wells Fargo is picking up mortgage applications from former competitors and seeing the relative simplicity of its mutual fund products help that business, bank CFO Howard Atkins told CNBC.
The two factors moving the market today were 1) the drop in oil, now down almost 10 percent in two days, and 2) the rally in financials.
Wells Fargo, the fifth-largest U.S. bank, reported better-than-expected quarterly results and raised its dividend despite a 23 percent decline in profit caused by a surge in bad loans.
Wells Fargo, the biggest bank on the U.S. West Coast, reported better-than-expected quarterly results and raised its dividend despite a 23 percent decline in profit caused by deteriorating credit.
Today's CPI data follows yesterday's disappointing PPI. The 1.1% rise in the month of June is the biggest one month rise since September 2005 and the biggest year over year increase since 1991. Here is a break down of where costs are rising the most.
Which is the Street more worried about--declining stock prices, particularly for financials, or inflation? It's both, and this morning's action illustrates that concern. It's been a roller coaster of a morning, up on Wells Fargo, down on consumer inflation higher than expected.
Oil's move could be a key trend in Wednesday's markets, as traders watch more Fed testimony, a bunch of earnings reports and another helping of inflation data.
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You thought IndyMac was it? Nope. Here's your how-to for getting through.
But the housing sector needs a merger before that happens, Cramer says.
U.S. banks will unleash a tide of poor quarterly results over the next two weeks, yet investors may choose to focus instead on when a recovery might be at hand and how much more capital raising and dividend cutting will be needed to achieve it.
U.S. home foreclosure filings jumped 53 percent in June from a year earlier, although they were down 3 percent from May, and foreclosures are expected to rise further, real estate data firm RealtyTrac said Thursday.