Morgan Stanley delivered quarterly earnings and revenue that surpassed analysts' expectations on Thursday.» Read More
Stocks resumed their ascent after a midmorning dip as oil began to recede and financials rallied.
"It's a sucker's rally," Kathy Boyle, president of Chapin Hill Advisors, says of this week's market move. "If you make money here, don't get greedy."
Financial stocks are enjoying a truly astounding rally. Now it's Merrill's turn to keep the bulls in charge or... renew worries about continuing losses from the credit crisis. Which will it be?
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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