Stocks closing near highs for the day. The key story: the correlation between a weak euro/weak equities has been broken. There is now a positive correlation between the dollar (up) and the stock market (also up)—what's up with that?
A day after the exchanges testified in the House of Representatives, exchange officials and lawyers are busy writing new rules. Based on discussions with exchange and government officials, here's a likely timetable:
Make this market safe for regular investors again.
Investigators seeking an explanation for the brief stock market panic last week said Sunday that they were focusing increasingly on how a controlled slowdown in trading on the New York Stock Exchange, meant to bring about stability, instead set off uncontrolled selling on electronic exchanges. The NYT explains.
Lloyd Blankfein talked with CNBC about how the firm needs to fill the void between how they see themselves versus how the public sees them.
On Friday in lower Manhattan, the financial giant held its annual shareholder meeting. The question on the table: How will Lloyd Blankfein receive shareholders questions?
He thinks they’re close. Read on for his two favorites in the group.
Warren Buffett defended Goldman Sachs as it faces SEC fraud accusations and talked about the signs of "real strength" he's seeing in the U.S. economy during a live interview in Omaha today, May 3, 2010 with Becky Quick on CNBC's Squawk Box. Here are video clips and a transcript of their conversation.
Warren Buffett tells CNBC that Goldman Sachs "has lost the PR battle at this point" as it responds to SEC accusations, but he does not think the firm has committed fraud. In a taped interview with Becky Quick ahead of today's Berkshire Hathaway shareholders meeting in Omaha, Buffett says Goldman has suffered because it did not respond quickly enough to the announcement of the SEC's complaint against the firm. Here's the video and transcript of their conversation.