By Jennifer Yousfi Managing Editor Reports that American International Group Inc. (AIG) may have overestimated the value of book assets caused shares to plunge over 10% and led U.S. stocks lower at midday, as nine stocks fell for every seven that gained on the New York Stock Exchange. At noon ET, the three major U.S. […]
Archives for February 2008
February 2008 - Page 11 of 15 - Money Morning - Only the News You Can Profit From
Money Morning's Three-Minute Review: How Last Week's Events Will Shape This Week's Action
By William Patalon III Executive Editor Money Morning/The Money Map Report Billionaire investing guru Warren Buffett says the ongoing U.S. financial sector meltdown is "poetic justice" for bankers who created the subprime-lending products that have gone sour and failed. Speaking last week in Toronto, where Buffett had appeared for the Canadian launch of the U.S. […]
The Dow Recession Rebound Strategy: Why You Never Want to Be on the Sidelines
By Jennifer Yousfi Managing Editor Miss the recession, miss the rebound. If there's one set of statistics that underscore why market timing is such a risky undertaking, it could well be this: As much as markets decline during recessions, if you jump out at the bottom, you run the risk of getting left behind when […]
Exxon Strikes Back At Venezuela
By Jason Simpkins Associate Editor Exxon Mobil Corp. (XOM) has obtained a court order to freeze $12 billion in assets from Petroleos de Venezuela as compensation for nationalization projects. It is the boldest retaliation yet by an international oil major against the trend of governments usurping control over natural resources as energy and commodity prices […]
Tech Convention To Get First Glimpse of Google's Phone
By Mike Caggeso Associate Editor Techies around the world will finally get a peek at Google Inc.'s (GOOG) long-anticipated Android mobile phone platform at the Mobile World Congress in Barcelona, Reuters reported, citing an unnamed source at the company. The Internet search giant's highly anticipated wireless phone platform will be demonstrated by British chip designer […]
Congress Passes $168 Billion Stimulus Package
By Jason Simpkins Associate Editor Congress passed $168 billion economic stimulus packages Friday, in an attempt to buoy a beleaguered U.S. economy. The legislation will dispatch tax rebate checks to more than 111 million households, Bloomberg News reported. The checks should being mailing in May. Individuals who earn less than $75,000 a year and couples […]
Three of the Most Reliable Investment Indicators Signal Rougher Waters Ahead For Investors
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report For those of you who don't know, the phrase "Katy bar the door" is British slang for "take precautions, there's trouble ahead." It's a perfect warning for the present market. Beginning in July of 2005, in presentations that I've made to investors – and more […]
Midday Market Update: U.S. Stocks Trend Down from Early Morning Gains as Credit Concerns Deepen
By Jennifer Yousfi Managing Editor Stocks were mostly lower today (Friday) on continued concerns the credit crisis will widen, while a rally in technology shares pushed the Nasdaq Composite Index higher on news of a $1 billion share buyback plan from online retailer Amazon.com Inc. (AMZN). "There's going to be more write-downs, more problems," Quincy […]
Platinum Hits Another Record High as South Africa Shorts Supply
By Jason Simpkins Associate Editor As the market continues to struggle, gold and platinum have been proving their worth as investment hedges. The price of platinum extended its record run yesterday [Thursday], climbing to $1,851.50 an ounce in early morning trading in London, Thomson Financial reported. It stood at $1,841, up $22 at 11:00 a.m. […]
Bank of England Sheds a Quarter Point From Its Benchmark Rate; ECB Wavers
By Mike Caggeso Associate Editor The Bank of England's nine-member Monetary Policy Committee cut its benchmark interest rate by a quarter point to 5.25% yesterday (Thursday), in an attempt to fight off the country's slowing consumer spending and precipitously falling housing prices. "In the United Kingdom, credit conditions for households and businesses are tightening. Consumer […]