By Jason SimpkinsManaging EditorMoney Morning The probably bankruptcy of CIT Group Inc. (NYSE: CIT) could have major implications on the retail and manufacturing sectors this week, as many related companies are reliant on the financing giant. With options running out over the weekend, CIT advisors began preparations for a bankruptcy filing. As of Sunday, JPMorgan […]
Archives for July 2009
July 2009 - Page 5 of 11 - Money Morning - Only the News You Can Profit From
Retail Sector Faces Uphill Climb in 2009
By Bob Blandeburgo Associate Editor Money Morning Retail investors had a rough go of things in the first half, but since the March lows of all the markets, the Standard & Poor’s Retail Index is showing progress toward its 52-week high of 427.13. But don’t expect that to last. A slump in consumer spending and […]
Buy, Sell or Hold: Capitalize on Resurgent Commodities Prices with the Market Vectors Steel (NYSE: SLX)
With the market very near critical support levels, critical earnings reports on the docket, and inflation and employment data set for release, it was more prudent last week to keep the powder dry. But the market surprised to the upside, as key companies reported better than expectations. Participation in fixed income issuance and trading, gave investment […]
Citigroup and Bank of America Post Second-Quarter Profit but Will Likely Struggle in the Second Half
By Jason SimpkinsManaging EditorMoney Morning Citigroup Inc. (NYSE: C) and Bank of America Corp. (NYSE: BAC) each topped estimates with second-quarter profit. But these earnings & like those of Goldman Sachs Group Inc. (NYSE: GS) and JPMorgan Chase & Co. (NYSE: JPM) & belie the sharp deterioration in the banking sector that will pose a […]
Gas Prices Dented by a Drop in Summer Traffic
Gas prices usually peak in the summer when millions of Americans hit the road for weekend getaways. This year, however, a surge in unemployment and a drop in summer traffic have kept prices at the pump in check. Gasoline prices are expected to average $2.49 a gallon nationwide from April to September, according to a […]
JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend
By Jason Simpkins Managing Editor Money Morning It takes more than two to make a trend. JPMorgan Chase & Co. (NYSE: JPM) yesterday (Thursday) became the second major U.S. investment bank – following Goldman Sachs Group Inc. (NYSE: GS) – to this week report windfall profits for the second-quarter. That’s helped fuel a four-day advance […]
Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. Google Revenues, Profits Rise; IBM’s Bumps Margins; Foreclosures Up as Well as Single-Family Homebuilder Confidence; Initial Unemployment Claims Fall to Lowest Level Since January; Sun Shareholders Approve Oracle Merger; Google […]
How to Profit From China's "Hot Money" Strategy
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report China made headlines around the world this week when it revealed that its foreign reserves had eclipsed the $2 trillion market for the first time, rising by a record $178 billion in the second quarter – thanks to a flood of “hot money” that flowed […]
CIT Won't Get Additional Bailout Money; Bankruptcy Likely
By Bob Blandeburgo Associate Editor Money Morning CIT Group Inc. (NYSE: CIT) said today (Thursday) that its discussions with the U.S. government have ceased and will not receive any more taxpayer funds. CIT, which received $2.3 billion in Troubled Asset Relief Funds (TARP) in December, said "there is no appreciable likelihood of additional government support […]
With Inflation on the Horizon, Gold Prices are Ready to Rally
By Jason Simpkins Managing Editor Money Morning With the global economy on the mend, could gold be gearing up for another record-setting run? It sure looks that way. After peaking north of the $1,000 per ounce price level last year, gold hit a stumbling block when deflationary fears in the world's largest economy sucked the […]