For the week ending Friday, June 13, 2008, the markets were mixed on varied economic news, renewed credit concerns from Lehman and the financial sector, and of course, oil. A surprise increase in retail sales gave hope for economic growth and a rising CPI suggested a potential rate move on the horizon that could strengthen the dollar and begin to tame inflation.
Stocks regained lost ground heading into the final hour of trade, with lower oil boosting financials and a host of other beaten-down sectors as Wall Street bid to finish a seesaw week slightly higher.
Stocks continued a solid rally Friday, boosted by falling oil prices and investors who swooped in to snatch up battered financial stocks.
After Lehman fired two top executives, the question is, does this give them any breathing room? The trust is broken--everyone thinks they will have to raise more capital, everyone thinks there will be more writedowns.
"We've had a bear market," David Katz of Matrix Asset Advisors told CNBC. "We think the next move in the market is going to start to discount a better `09, and a lot of these problems being resolved, and so we'd be buying into this weakness." Not only is Katz buying, he's buying financials!
KeyCorp , a large U.S. Midwest regional bank, said it plans to raise $1.5 billion in equity capital and cut its dividend in half, following an adverse federal court ruling over the tax treatment of leveraged leases.
Stocks tumbled Wednesday as oil's resurgence lit the fuse of inflation fears, pushing the Dow to a three-month low. Oil jumped about $5 a barrel, settling at $136.38. Financials were the hardest hit.
Stocks fell sharply as oil's resurgence fanned inflation fears and a downgrade on Alcoa dragged on the Dow. Oil jumped about $6.
Stocks opened lower as oil's resurgence fanned inflation fears and a downgrade on Alcoa dragged on the Dow. Oil jumped nearly $3, topping $134 a barrel.
Wall Street looked set to open slightly higher on Wednesday, but the energy market could again hijack the stock market with U.S. inventory data arriving later in the morning.
Bank shares rose on Wednesday after a report that Russian billionaire Suleiman Kerimov is buying stakes in major Western banks and wants other tycoons to join him.
Lehman Brothers may find itself on more secure ground, but its poor showing in the second quarter has undermined confidence in banks and brokerages and left investors wondering what to believe about the state of the credit crisis.
Oil prices are likely to hit $150 a barrel this summer season, the global head of commodities research at Goldman Sachs said on Monday, as tighter supplies outweigh weakening demand.
Fasten your seatbelt, it could be a wild ride on Wall Street again this week as investors lick their wounds from Friday's market mayhem and brace for a key inflation report.
The Dow tumbled badly Friday after oil shot up more than $11 to a new record. What's the "Word on the Street?"
The Dow plunged more than 400 points as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.
Stocks plunged as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Stocks plunged after the sharpest jump in the unemployment rate in more than 20 years and news that wholesale inventories ballooned. Oil jumped $6 a barrel. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Nearly 2.0 billion shares and $31 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
Home prices in New York's Manhattan, which have been largely unscathed by the housing slump may start to come down as the credit crunch comes back to bite Wall Street bankers.