The "Fast Money" traders share their final trades of the day.» Read More
Stocks start the week on a weak note as investors await existing home sales data at 10 am New York time. A flurry of takeover headlines is getting attention, most importantly the revised deal by three private equity firms for Home Depot's service unit. The three buyers, Bain Capital, Carlyle Group and Clayton, Dubilier and Rice, agreed to buy the unit for $8.5 billion, 18% less than the original price agreed in June.
With the stock market booming and wealth in America exploding, more of the rich and super-rich are giving big bucks to charitable causes.
Stocks ended higher at the end of a quiet week of trading, as investors were encouraged by further moves by the Federal Reserve and a vote of confidence for the nation's largest mortgage lender. The Dow Jones Industrial Average posted a weekly gain of 1.8%, the S&P 500 rose 1.7% and the Nasdaq Composite advanced 2.1%.
Subprime-battered mortgage lenders are shutting down, fewer homes are being built, and even some of the big U.S. retailers are planning conservatively for Christmas holiday sales.
GameStop posted on Thursday a better-than-expected seven-fold jump in quarterly profit and raised its full-year outlook on strong sales of games like "Guitar Hero II" and "NCAA Football '08," sending its shares up as much as 8 percent.
A state judge in Michigan has sided with Wal-Mart Stores and dismissed a lawsuit by former marketing executive Julie Roehm over her firing, saying the case should be filed in Arkansas.
U.S. retailers are still sweating through the back-to-school shopping season, but an early chill has already crept into their prospects for the all-important holiday season.
Several retailers posted improved quarterly earnings on Tuesday, but many remained cautious about the rest of the year.Retail stocks were mixed in reaction, with shares of upscale retailers such as Saks trading lower, while club stores such as BJ Wholesale Club gained ground. Both were among those reporting results Tuesday.
Target said Tuesday its quarterly profit rose almost 13 percent, meeting Wall Street targets, but the retailer is planning more conservatively for the rest of the year because of the "more difficult economic environment" facing its shoppers.
One question about market turbulence that I'll be watching is its effect on the 2008 presidential race. It's not clear the disruptions will prove long lasting, much less lead to an economic recession. If it proves a short-term blip, the effects will be negligible.
Stocks closed the week lower as credit market concerns had investors running for safety but a reversal of misfortune late in the week cut losses significantly.
Credit worries cling to the stock market like fleas to a dog. One of today's headaches came from the Canadian asset-backed commercial paper market which traders here are eyeing nervously. Meanwhile, U.S. brokerage stocks and banks have been pulled into a spiral of selling, amid rumors that any one of the firms is facing credit issues. "They're all getting beaten with the ugly stick today," said Fast Money's Jeff Macke on Power Lunch today.
More credit problems surfaced in the financial sector on Tuesday, battering stocks and fueling worries that things will get worse before they get better. "The market is still jittery," said Stephen Porpora, managing floor broker with William O'Neil. "Everybody's looking for the next shoe to drop in this subprime problem."
Stocks closed sharply lower, with the Dow dropping more than 200 points, amid continuing anxiety about the credit markets and a weak earnings outlook from Wal-Mart. "I still feel the market is headed for a lower low," said Byron Wien, chief market strategist at Pequot Capital Management.
Wal-Mart Stores Tuesday posted quarterly sales and profit that fell short of expectations, and lowered its earnings forecast, saying that customers remain under economic pressure. Chief Executive Lee Scott blamed the disappointing performance on economic pressure around the world.
CNBC's Bob Pisani reports on what traders are telling him before the market opens: The European Central Bank for a fourth day needed to add extra cash into the overnight lending market. But the action is working. Overseas markets are largely calm.
U.S. consumers spent more boldly than expected last month as declining gasoline prices shielded household budgets, government data showed on Monday.
Tesco's Fresh + Direct will be opening in the U.S. in November. The company, which is the U.K.'s answer to Wal-Mart, will be launching first on the West Coast and is remaining mum regarding its expansion in the rest of the country. Company spokesperson Greg Sage wouldn't elaborate on when or if they plan to come to the East Coast. Right now, the company is focused on Phoenix, L.A., Las Vegas and a few other West Coast markets.
While most long-term investors should stay on the sidelines during the current market turmoil, analysts say there are opportunities to find some bargains amid the carnage."Fear creates opportunity," Michael Embler, chief investment officer at Franklin Templeton Investments, told CNBC.com. "If you are a long-term investor, you should be turning off your screen. But if you want to buy stock, this is an opportunity."
It is the biggest launch in Kohl's history but the company does not want to discuss it. That was what Kohl's press person told me when I phoned to ask if there were any events planned around the September 9th launch of their first major guest designer clothing line. With the massive launch of the Vera Wang designed "Simply Vera" collection, you would expect that Kohl's would be backing up their bet on Vera with a media onslaught. But that's not the case.