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Wells Fargo on Tuesday filed a lawsuit to prevent Citigroup from pursuing liability claims against it, as part of the banks' ongoing battles over Wachovia.
The US government outlined three new initiatives to aid financial institutions amid a historic credit crunch that has frozen lending around the world.
Today, the US Treasury, the Federal Reserve, and the FDIC announced measures to stabilize the financial markets, to build capital to increase the flow of financing to U.S. businesses and consumers, and to support the U.S. economy.
Stocks shot out of the gate Tuesday, a nice chaser to the Dow's biggest one-day point gain in history, after the government announced a plan to buy stakes in the nation's largest financial institutions.
Wall Street looked set for another rally Tuesday, after the Dow recorded the biggest one-day point gain ever on Monday, as world markets continued to surge.
The best stock market day in 75 years will no doubt be followed by a less enthusiastic Tuesday session. But the good news is the international effort to thaw the credit freeze may have finally given the markets at least a temporary jolt of confidence.
Stocks bounced back from their worst week ever with one of their best performances in history as investors cheered a global cash infusion designed to unthaw the credit market and avoid a global meltdown. The Dow gained more than 900 points, its biggest one-day point gain ever.
Stocks bounced back from their worst week ever as investors cheered a series of measures and cash injections by governments and central banks designed to prop up the banking sector and avoid a global meltdown. The Dow was up nearly 500 points, or more than 5.5 percent.
The sport that makes its money off the well-heeled will go the way of the people who they market to. Yes, the PGA Tour recently signed Citi as a sponsor of the Presidents Cup, but Wachovia's golf tournament will now be in the hands of Wells Fargo.
Stocks rallied at the opening bell Monday following a series of measures and cash injections by governments and central banks designed to prop up the banking sector and avoid a global meltdown. The Dow was up about 400 points, or 5 percent, within the first few minutes of trading.
Wall Street looked set to rally Monday following a series of measures and cash injections by governments and central banks designed to prop up the banking sector and avoid a global meltdown.
Stocks will take their cue from credit markets in the week ahead and whether they are responding to any of the government's efforts to thaw the glacial credit freeze.
The Mad Money host lays out his strategy to get this economy and market back on track.
After trading in a 1,000-point range for the first time ever, stocks ended the day with a whimper, closing slightly lower amid hopes that the holiday weekend could bring good news.
Wall Street tried to fight its way back from a precipitous opening drop, with volatility promising to cause violent swings as the market battled to break a seven-day losing streak.
Traders are in agreement on two points: 1) We are not trading on fundamentals. Forced selling is causing many stocks to trade well below fundamental values; 2) traders do not have faith in 2009 earnings projections, which is making it difficult to value stocks.
Citigroup said it's ended negotiations with Wells Fargo in their fight to acquire Wachovia—but Citigroup's effort to grab some assets of Wachovia may not be over just yet.
Stocks fell for a seventh straight session on Thursday as investors worried recent moves by authorities worldwide to thaw frozen credit markets might not be enough.
The US Treasury’s plan to inject cash directly into banks may be more effective in battling the credit freeze than having the government buy the banks' troubled mortgage debt ... provided the right banks get the cash.
Stocks opened aggressively higher Thursday as Wall Street sought to break a dismal six-day losing streak.