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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.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
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.
The week began with a flashback to the credit crisis. It ended with figures showing the fastest inflation in six months and the lowest consumer-sentiment reading in 28 years. Along the way, as the stock market ebbed and flowed, CNBC guests assembled a collective portfolio that was heavy on technology, energy, and global exposure.
Friday was the first day in what should be a good run in the market.
CNBC asked the market experts where investors should be putting their money, and here are some of their best suggestions.
Robert Zagunis says investors should put their money into shares of diversified international companies: "where the action is."
The good news is that a feared Monday Debacle never materialized, in fact it never even got close. What worked was the same story that worked for the last five months: buy the dips, sell the rallies. So energy, materials, and beaten up retailers got a modest lift today.
Short seller Doug Kass renewed his attack on Berkshire Hathaway, placing another bet against the stock by going short again yesterday and writing critically today about "some bombs in Buffett's book."
Some of the nation’s biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive institutions, the NYT reports.
If so, it could spark a marketwide rally, Cramer says.
Is this a once in a generation chance to buy financials?
KeyCorp dropped 12% Wednesday after underestimating its exposure to bad loans. Has the subprime slime spread all the way to the neighborhood bank?
Short seller Doug Kass tells CNBC's Larry Kudlow he thinks Warren Buffett has lost his way, and Kass is betting on Berkshire Hathaway's stock to fall. In an appearance tonight (Monday) on Kudlow and Company, Kass, who is President of Seabreeze Partners Management, explains why he's taken a short position in Berkshire.
Buy stocks with long-term bullish themes, Cramer says. That way you don't have to worry about the short-term volatility in the market.
The Lightning Round is extended in this CNBC.com exclusive feature.
What's Buffett buying? The answer appears to be 'not much' in the first quarter of this year, although his stakes in two healthcare companies and Kraft Foods did increase somewhat. Berkshire Hathaway's just-released disclosure of its U.S. stock portfolio holdings as of March 31 does not include any new names.
Joe Keating, CIO of private asset management at RBC Bank, picked stocks for graying Boomers. Plus: Web-Exclusive picks -- not on TV!