Giovanny Moreano is a Quantitative Analyst at CNBC.
Giovanny Moreano is a Quantitative Analyst at CNBC.
As President-elect Barack Obama prepares to take office, the severity of the economic slowdown is pressuring the incoming administration to fuel infrastructure spending as a way to propel the economy. Here are some of the stocks winning from the anticipated stimulus.
The European Central Bank, Bank of England, and Sweden’s Ricksbank slashed their interest rates today in an effort to bolster access to credit while luring consumer spending.
Following rate cuts from the Fed, China and Japan last week, the Bank of England and European Central Bank slashed their key interest rates today. Central Banks from around the world are modifying their monetary policies in a coordinated effort to contain the impact of the global financial crisis.
Crude oil contracts for December delivery rallied $6.62 per barrel, up 10.36% for the day, marking the fourth largest dollar move ever.
The Nasdaq Composite gained 9.5% or 143 points today. Here are the biggest daily gains in the Nasdaq's history.
As investors continue to debate whether the stock market could be near a bottom, data for the last twelve bear markets indicates that, on average, it took the Dow three years to reach its previous highs.
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.
For the week ending Friday, September 26, 2008, the major U.S. Indices tumbled for the week as uncertainty lingered over the Congressional $700B bailout package. We also witnessed a historic bank failure, unsatisfying housing data, a continued rise in jobless claims, and a record one-day gain in the price of crude. The S&P 500 and NASDAQ Composite shed more than 3% for the week. The NASDAQ had the worst weekly performance amongst the three major indices, losing 3.98%, followed by S&P 500 which lost 3.3%, marking their biggest weekly drops since the start of Sept. for the NASDAQ & since mid May for the S&P.
As uncertainty in the markets intensifies, with the Dow falling 812.33 points in the last three days to its lowest level since November 2005, and the S&P 500 tumbling 95.29 to May 2005 levels, investors are increasingly seeking "safe havens" to weather the current crisis.
Crude oil contracts for October delivery rallied $16.37 per barrel, up 15.66% for the day, marking the largest dollar and percent move ever.