By Martin HutchinsonContributing EditorMoney Morning Since sinking to a 12-year low of 676.53 on March 9, the Standard and Poor's 500 Index had risen 24% — the best such short-term rally since 1933. But this isn't 1933 and you shouldn't trust the rally. Happy Days are NOT here again, at least not yet. The 1933 […]
Archives for April 2009
April 2009 - Page 6 of 11 - Money Morning - Only the News You Can Profit From
Three Big Reasons Oil Prices Will Resume Their Rally
[Editor's Note: This report on the global oil market is the latest installment in a series of Money Morning quarterly reports that will examine such topics as gold, housing and U.S. equities. These reports will now be a regular feature at the end of each quarter.] By Jason Simpkins Managing Editor Money Morning Oil has […]
Global Investment News Briefs
UBS Posts $1.7 Billion Loss; Infosys Forecast First Sales Drop; FDI in China Slips Again; Annual CPI Falls For First Time Since 1955; Homebuilder Sentiment Rises; BofA Raises Credit Card Transfer Fees to 4%; Cisco Deal Clears FTC; Brazil's Bonds Rise On Interest Rate Cuts UBS AG (UBS) said it will cut 11% of its […]
Intel and Wal-Mart Offer a Dismal View of Economy’s Future
By Don MillerAssociate EditorMoney Morning Two of America's prominent business bellwethers gave hazy views of what's in store for the U.S. economy today (Wednesday) as Intel Corp. (INTC), reported dismal earnings and Wal-Mart Stores Inc. Chief Executive Officer (WMT) H. Lee Scott said he doubted a quick recovery is in the cards. Intel, the world's […]
Fiat CEO Gives 50% Chance of Chrysler Merger, Demands More Labor Cost Cuts
By Mike Caggeso Associate Editor Money Morning Fiat SpA (OTC: FIATY) Chief Executive Officer Sergio Marchionne said his company would walk away from merger talks with Chrysler LLC unless American and Canadian unions agree to take substantial pay cuts, The Toronto Globe and Mail reported. Marchionne said he's aiming for Chrysler's U.S. and Canada labor […]
Is Goldman’s Share Offering an Attempt to Further Ensnare the Government?
Not a fan of socialism? Me either. But, if the federal government has to backstop free market excesses with taxpayer dollars, how will it eventually unravel the veil, or tarp of intervention? Or should it? The answers are about to unfold before our eyes. In the case of the government and Goldman Sachs Group Inc. […]
Money Morning Expert Makes Noise with Market Call
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report When Slate magazine set out to identify the market prognosticator who called what's right now the low-water mark of the bear market in U.S. stocks, the first nominee was super economist Nouriel Roubini. Last year, Roubini predicted that "sometime" in 2009, the Dow Jones Industrial Average […]
Global Investment News Briefs
Goldman Raises $5 Billion to Repay TARP; Cost Cutting Will Save Royal Phillips $664 Million; Johnson & Johnson Earnings Saved By Cost Cuts; Singapore Forecasts 6%-9% 2009 Decline; Discover to Cut 500 Jobs; LIBOR Rate Dropping Fast; Coal Prices to Stay Low in 2009; Madoff Firm Files Bankruptcy A day after posting better-than-expected quarterly earnings, […]
Government May “Nationalize” GM by Swapping Debt for Equity
By Don MillerAssociate EditorMoney Morning In a move that would effectively nationalize the country's largest automaker, the U.S. government is considering taking an equity stake in General Motors Corp. (GM) in exchange for part of the $13.4 billion it has already lent the company, Bloomberg News reported, citing people familiar with the matter. Such a […]
Retail Sales and Inflation Slip in March
By Mike Caggeso Associate Editor Money Morning Retail sales and inflation took a step backward in March, as dour consumer demand hurt the former and suppressed energy prices stalled the latter. Total retail sales for March clocked in at $344.4 billion, a decrease of 1.1% from February and a 9.4% dive from March 2008. Overall, […]