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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.
Anxiety about the cost of raising money triggered some serious selling that ended with blood running down the Street...
David Lutz, managing director at Stifel Nicolaus, offered CNBC advice for investing in financials. See his stock pans and picks!
Wall Street is bracing for a big round of second-quarter earnings reports that few expect to deliver good news for the state of corporate America.
Shares of Warren Buffett's Berkshire Hathaway are down almost 20 percent from their all-time closing high of last December. Wall Street's generally accepted definition of a 'bear market' involves a 20 percent drop from a recent high. Yesterday, Berkshire shares dipped into bear territory on an intraday basis, before recovering to close at $120,100 .. a 19.5 percent drop from its all-time closing high of $149,200, set on December 10.
Friday shows are the only time Cramer has a trading mentality -- the rest of the show is about investing, where it pays to be patient.
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U.S. banks may need to raise $65 billion of additional capital to cope with mounting losses from a global credit crisis that will not peak until 2009, Goldman Sachs & Co analysts said on Tuesday.