BoE's Ben Broadbent Tells CNBC: Bernanke's QE Remarks Were Not Surprising
Trader Talk with Bob Pisani
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Traders chase both sides of Fed debate. Is this a signature day for the markets? Not clear yet.
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Fed Rate Cuts: Can They Help Financials?
Posted By: Bob Pisani
Today's disappointing earnings commentary from regional bank giants Wells Fargo and KeyCorp drove many regional banks to new lows. Analysts note that many banks are facing slowing loan growth, weak deposit growth, and potentially higher losses on residential and (in some cases) commercial mortgage.
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Global Trade: BofA's Quinlan Lists Benefits For U.S.
Posted By: Bob Pisani
While the markets are concerned today about the poor quality of financial earnings, Bank of America’s Joe Quinlan tackles a different—but equally important—subject: the rising tide of protectionism in the U.S., which is threatening the profits of now-global U.S. corporations. Quinlan notes that U.S. firms are enjoying a global boom in trade, earnings, capital inflows.
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Regional Bank Woes Signal A Long Recovery
Posted By: Bob Pisani
Regional banks hit new lows today, as traders gave up on any short-term recovery and the hope that the worst is behind us. Big names like KeyCorp, Zions Bancorp, National City, SunTrust, and M&T hit new lows today.
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Housing Weakness Spreads: Some Examples
Posted By: Bob Pisani
We are now seeing the weakness in the U.S. housing business spread into other areas: 1) financials are under pressure because credit quality continues to deteriorate, largely around weakness in home and commercial mortgages.
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Market's Problems: Financials, Steel, Homebuilders
Posted By: Bob Pisani
The problems today: 1) Financials. For a view of why traders are now very worried about Q4 earnings for financials, look no farther than KeyCorp. Q3 earnings and Q4 guidance were both below expectations; there were strains from fixed income markets particularly in commercial real estate, and rising problems with residential construction loans.
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Bernanke Speech Dominates Street Talk
Posted By: Bob Pisani
My thoughts this Tuesday morning: 1) Ben Bernanke's speech widely discussed on the Street this morning. Traders wondering why he didn't talk about energy and food prices; further evidence that core inflation is what matters to the Fed.
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Market Story Simple: Citi And Eaton Dominate
Posted By: Bob Pisani
It's a pretty simple story today: Citi and Eaton. Citi, because they spoke about the need to raise reserves for potential losses in the credit area (reviving concerns about a consumer burdened by debt) and Eaton because they lowered Q4 guidance.
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Citi Comments Weigh Heavy On Financials
Posted By: Bob Pisani
Here's a look at the midday weakness: a) Citigroup comments on deteriorating consumer credit is weighing on financials. Oil at new highs helping energy but hurting transports.
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Subprime Still Dominates Markets, Banking
Posted By: Bob Pisani
Here are my thoughts this Monday morning: 1) Citigroup's earnings were about in line with their own drastically reduced guidance they gave a couple weeks ago. Fixed income was poor as expected, and consumer delinquency rates continue to uptick. International posted strong revenue growth (up 30%) Conference call at 8:30.
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China Betting Consumer Slowdown Not Global
Posted By: Bob Pisani
Active trading today in NASDAQ big caps (Google , Apple, Amazon, Apple), international oil companies, and Chinese stocks. Chinese stocks? Chinese Communist Party holds their annual meeting next week (no I'm not going), Hang Seng in Hong Kong and Shanghai index hit historic highs yesterday.
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About Trader Talk
Direct from the floor of the NYSE, Trader Talk with Bob Pisani provides a dynamic look at the reasons for the day’s actions on Wall Street. If you want to go beyond the latest numbers— Bob will tell you why the market does what it does and what it means for the next day’s trading.
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A CNBC reporter since 1990, Pisani reports on Wall Street and the stock market from the floor of the New York Stock Exchange. Follow him on Twitter @BobPisani.
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Wall Street
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Volatile trading in stocks and bonds could continue while investors sort out what's going on with the Fed.
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CNBC's Maria Bartiromo discusses the day's top business and financial stories, and looks ahead to tomorrow's Closing Bell.
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Check out which companies are making headlines after the bell Wednesday: