Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Consumer spending didn't slow down that much but apparently consumer bill paying has. Look at Capital One. The company is taking a $1.9 billion provision for loan losses in the fourth quarter and cut its full year profit forecast by more than 20 percent, blaming rising consumer loan losses and higher legal reserves.
There's little chance Fed Chairman Ben Bernanke will say much to soothe the markets when he speaks on the economy Thursday afternoon. But regardless, his comments at 1 p.m. are likely to be among the most important headlines of the day and could be a big driver for markets.
Goldman Sachs today joins a growing roster of Wall Street firms, who say the U.S. economy will fall into recession this year. Watch for more reductions in stock price and earnings forecasts to follow.
Gripped by fear, the stock market once more headed into the correction zone, on the eve of the fourth-quarter earnings reporting season. Tuesday's fierce selloff pushed both the S&P 500 and Dow down 11 percent from the highs they set in October. Ten percent makes a correction, and it is the third time the Dow has gone into correction territory in the last seven months if you count intraday moves.
A high degree of uncertainty surrounded the stock market's unsettled, back and forth trade Monday. That mood of indecision could pervade Tuesday's session though there will be plenty of news for investors to watch, including a special appearance by Treasury Secretary Hank Paulson during the 8 a.m. ET hour of CNBC's "Squawk Box."
Goldman Sachs analysts say stock investors should look to larger cap and defensive sectors as a way to play the uncertainty of presidential primary season. While they say the major party nominees should become clear by "Super Duper Tuesday," there is greater electoral and policy uncertainty in this Presidential race because there are no incumbents running.
Some traders are reading into the correlation between the value of the S&P 500 and Germany's DAX stock index.
Names on the move ahead of the open.
Janet Yellen takes center stage in the week ahead, chairing her first FOMC meeting amid market skittishness over events in Ukraine.
The Fed's custody holdings report is usually a sleeper, but this week there was a whopping withdrawal by a central bank. Speculation is it was Russia.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
Sharon Epperson is CNBC's senior commodities and personal finance correspondent.
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.
Stocks rose to new highs as investors reacted to strong home-price gains and a jump in consumer confidence.
Not only has job growth been slow, but too many new jobs have paid poorly. That could change in the coming year.
Santa's sleigh delays; frothy tech values; more 'wisdom' from McDonald's. Here are the week's market winners and losers.