Stocks took off like a rocket Tuesday, with the Dow gaining a whopping 5.8 percent, as banks rallied after a combination of encouraging news from the sector. The Nasdaq jumped 7.1 percent.
Stocks pared some of their earlier gains but were still up sharply on renewed confidence about the financial sector.
Prominent banking analyst Meredith Whitney warned that "credit cards are the next credit crunch"...
US stock index futures pointed to a higher open for Wall Street after Monday's selloff and with some good news emerging from the banking sector.
Lately, I have been receiving numerous emails relaying credit card horror stories, in response to my frequent blogs on the subject. But the one I got on Friday takes the cake, says Patricia Chadwick.
A big pharmaceutical deal is doing nothing to help stocks pre-open. Once again stocks overseas are being led down by banks.
Susan writes, “With the new TALF program, should I be a buyer of consumer credit names like Capital One?”
Tuesday: President Obama signed the $787 billion economic stimulus bill into law, as governments around the world consider their own actions. But global markets plunged on fears of a deepening recession; Chrysler asked the U.S. for $2 billion more in loans and General Motors is widely expected to follow suit. Investors are fleeing to bonds and gold-backed securities. CNBC heard from experts who warned that the March "bear market bull" won't happen — but that we are, indeed, in a "bottoming process."
The Dow slid within striking distance of its bear-market low on Tuesday, despite the fact that President Obama signed the economic stimulus into law. What went wrong?
Following are the day’s biggest winners and losers. Find out why shares of Continental Airlines and Viacom popped while Harley-Davidson and Capital One dropped.
Following are the day’s biggest winners and losers. Find out why shares of UPS and Northrop Grunman popped while Motorola and Capital One dropped.
While investors hoped that a new year would bring better results, a plethora of downbeat earnings reports, poor corporate outlooks, gloomy economic data, and heightened concerns over the health of many large financial firms plagued the markets in January.
Government bail-outs in the wake of financial wreckage have inundated news headlines across the globe. Capital injections by the government into leading American banks under the U.S. Troubled Asset Relief Program (TARP) have been redefined across multiple sectors. With so many institutions holding bad assets and seeking to tap TARP, a new index by the NasdaqOMX Group was introduced as the Government Relief Index (QGRI) to track the performance of U.S. listed companies that are participants of U.S. government sponsored relief programs such as TARP.
American Express jumped nearly 10 percent on Tuesday giving the Dow a nice boost. Does that mean the worst of the credit card woes are behind us?
Stocks pulled off a gain — barely — as investors cheered earnings surprises from American Express and others amid an underlying buzz of anxiety about the economy.
Stocks turned flat Tuesday after a report showed consumer confidence continues to fade and an early rally fizzled.
American Express said on Monday its fourth-quarter earnings tumbled 72 percent due to higher loan losses, lower customer spending and a strengthening U.S. dollar, but results beat expectations as it slashed costs.
Major indexes finished higher after a yo-yo session Monday, with banks ending mixed after several attempts at a rally.
Stocks rallied, led by banks, after a wobbly open Monday. The market also got a boost from a blockbuster pharma deal, which helped overshadow a gloomy outlook from Caterpillar and other earnings worries.
Stocks got a boost from a better-than-expected report on the housing market, which overshadowed Caterpillar's gloomy outlook and other earnings worries.