Stocks advanced Thursday as a trio of encouraging economic reports — the Philadelphia Federal Reserve's manufacturing report, leading indicators and weekly jobless claims — fueled recovery hopes.
US stock index futures were flat Thursday as investors digested the Obama Administration’s changes to financial regulation and looked toward key economic reports including jobless claims.
Credit card holders who in ordinary years might have used their tax refunds to pay down their balances apparently spent the money elsewhere as the recession deepened in the first quarter.
Friday, 22 May 2009 | Source: The Associated Press
There are pitfalls to the new credit card law passed by both houses of Congress and being signed into law by President Obama on Friday, and some are likely to hurt consumers.
Congress is moving to limit the penalties on riskier credit card users, and to make up for lost income, the card companies are going after those people with sterling credit, the New York Times reports.
In Monday's rally, the sector topping the tape was Financials, and leading the way were credit card stocks, notably American Express, Discover and Capital One... Read More
'Over the last year, the federal government has injected over $200 billion into approximately 600 financial institutions, and guaranteed over $300 billion of their troubled assets... Read More
As of this past Friday, just over 10% of the S&P 500 companies had reported earnings. This week we will see roughly 30% more of the S&P report.... Read More