When it came to the Brexit vote, Wall Street banks (and traders) assumed the worst. But they may have gotten it wrong. » Read More
European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread around the world, accelerating economic downturns on three continents, the New York Times reported.
During the crisis, so-called smart money seems to be avoiding three categories: index funds, dividend-paying companies and small-caps. On paper, that seems to make perfect sense. In fact, some of these ideas haven’t panned out, says the New York Times.
The Wachovia boss may have proved his worth this week, but his peers are still worthy of skepticism.
In a live telephone interview today (Friday) on CNBC, Warren Buffett reacted to the House of Representative's approval of a financial rescue package. He also revealed the two domestic stocks that he personally owns, as opposed to the many stocks owned by his holding company, Berkshire Hathaway. This is a complete transcript of that conversation.
Turns out Wachovia's CEO was more hero than villian. It's just that Cramer didn't know until the Wells Fargo deal was announced.
The stumbling economy and the specter of a rough earnings season will pressure stocks in the week ahead.
Getting dumped stinks. You think you’ve found a wonderful partner only to realize those feelings aren’t returned. Poor Citigroup! Find out what Dick Bove has to say about the mess.
Wall Street ended its worst week in seven years with another tumble on Friday...
Wall Street capped its worst week in seven years with a late day selloff as traders briefly celebrated the House's approval of the Wall Street bailout, then yanked their positions ahead of the weekend.
For the week ending Friday, October 3, 2008, the major U.S. Indices declined steeply on continued uncertainties over the financial bailout / rescue plan, concerns in the credit markets and more economic deterioration.
What happened to our rally? Stocks rallied going into the vote. The rescue bill passed a little after 1 pm ET, floor traders broke into applause and then spent the next half hour processing sell orders.
Stocks hovered around the flat line Friday afternoon after the House approved the revised $700 bailout bill for Wall Street. Apple shares recovered as did shares of Hartford and other insurers.
In a live interview minutes after the House of Representatives passed the bailout bill, Warren Buffett told CNBC's Becky Quick that the measure is not a "panacea." While the rescue package will provide some tools to deal with the financial crisis and prevent what could have been a far worse situation, Buffett predicted that it will be quite a while before the economic recession bottoms out.
Stocks rallied Friday as investors pinned their hopes on the House passing the bailout bill today. Apple shares recovered after the company denied a rumor about Jobs' health.
That's not Wall Street! Here's the headline of the day: California might need emergency loan of $7 billion--unable to access routine short-term loans.
Futures pointed to a higher open on Wall Street Friday after the September employment report showed payrolls were cut more than expected, something that is likely to ratchet up pressure on the House to pass the bailout bill when it votes later today.
Want graphic evidence of how confused traders are? Stock futures rallied for a couple minutes on the Wells Fargo/Wachovia deal, then quickly dropped. Futures dropped again as non-farm payrolls came out below expectations, then rallied back a few minutes later.
The latest overall job loss numbers showed a loss of 159,000 jobs in September while the unemployment rate remained at 6.1%, close to a five-year high. This is the largest payroll drop since March 2003. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
You can’t say Warren Buffett doesn’t have “imagination at work.” The billionaire investor is putting his money behind one of the largest companies on the planet.
Which way is the market headed -- and for which sectors? Craig Columbus and Michael Farr offered CNBC their investment insights.