The government is extending the deadline for private fund managers to apply to participate in the administration's program to purchase distressed assets from banks.
Global stocks and the euro gained Monday as hopes that the economic downturn is nearing its bottom spurred demand for riskier assets. Experts tell CNBC they see long-term value in the euro and gold, while they see short-term value in the dollar and stocks.
While most Asian markets closed higher Friday on the back of the G20 summit optimism and a rally in tech stocks, European markets were lower ahead of the March U.S. jobs report. Economists polled by Reuters expect a decline of 650,000 jobs.
Global stocks powered higher Thursday as hopes grew that the US economic decline was reaching a bottom, while the euro gained despite expectations of an interest rate cut from the European Central Bank. Experts weigh in on how to help the economy.
Wednesday: Pending sales of existing U.S. homes inched upward but home values keep slipping. Job losses in the U.S. private sector accelerated more than expected in March but planned layoffs are down. Pres. Obama urged unified action at the G20 meeting. Four regional banks were the first to pay back TARP funds. CNBC heard from experts who said the market will make a major move around Easter — and went overweight in stock portfolio allocation.
The U.S. economy will have negative growth for 2009 before it improves slowly in 2010, Dallas Federal Reserve Bank President Richard Fisher told CNBC Wednesday.
Global stocks began the second quarter lower Wednesday ahead of the G20 summit in London which aims to tackle the financial crisis. Experts tell CNBC that gold is a good buy when above $1,000, but that long-term U.S. Treasurys may be losing their shine.
Tuesday: Consumer confidence squeaked above its record low. Ford announced an incentive program -- covering payments if a buyer is laid off -- similar to Hyundai's. GM's new CEO Fritz henderson said bankruptcy is possible within 60 days. J.P. Morgan said global banks will write down $17 billion more. CNBC heard from experts who said retail looks less scary, housing is finally coming back — but warned that inflation could be "kryptonite" for bonds.
Altering mark-to-market accounting rules would bring more opacity to the financial system, said Nassim Taleb, “The Black Swan” author.
Ryan writes, “Was the late rally Wednesday just short covering? No one wanted to be short overnight?
The pace of economic deterioration has started to slowdown in some areas, said Treasury Secretary Timothy Geithner on Wednesday.
The Norwegian kroner is "the best currency in the world" and certainly preferable to the US dollar, UK pound and other currencies where governments are practicing quantitative easing, David Bloom, global head of foreign exchange at HSBC, told CNBC Wednesday.
With other central banks acting to create money out of thin air because they cannot lower short-term interest rates any further, the ECB remains wary of the specter of inflation.
Positive developments out of Washington have stocks on a slow road to recovery even as the economy may continue to struggle, a panel said on CNBC.
Don’t get caught up in the market’s swift move higher, Cramer says. Pocket your winnings while you can.
Negative connotations or not, Cramer says, this is exactly what we need.
"Most high-earning execs will find their next job through networking," says one expert. "The old tricks are not working anymore. You can't just shop your resume around."
FDIC Chairman Sheila Bair told Congress a new system of supervision that prevents institutions from taking on excessive risk and becoming so large their failure would threaten the financial system is needed.
In a surprise move today, the Bernanke Fed launched another shock-and-awe stimulus plan that will expand the Fed’s balance sheet another $1.2 trillion through the purchase of $300 billion in long-dated Treasuries, $750 billion in mortgage-backed securities (Fan/Fred), and another $100 billion in U.S. agency debt.
Wednesday: AIG CEO Edward Liddy cited the "cold realities of competition," and insists the controversial bonuses must be paid. David Friehling, accountant for confessed super-swindler Bernard Madoff, was arrested on fraud charges. Sunnier notes: Bank of America CEO Kenneth Lewis said BofA could repay its $45 billion TARP loan this year. And Sun Microsystems shares jumped on IBM deal talk. CNBC heard from experts who predicted that the Fed meeting today will not please Wall Street.