By Jason Simpkins Staff Writer U.S. stocks posted moderate gains yesterday (Monday) – rebounding from early setbacks – as still-fretting investors get ready to navigate a stretch that will be largely bereft of corporate earnings reports or critical economic reports. The Dow Jones Industrial Average climbed 42.27 points, or 0.32%, yesterday to close at 13,125.35, […]
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Fed Cuts Discount Rate; Stocks Rebound
By Jason Simpkins The U.S. Federal Reserve cut the discount rate to 5.75% Friday, and in a statement indicated that it is "prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets." The Fed kept the benchmark Federal Funds rate at 5.25%. Discount window borrowing, […]
China Insists it Won't Dump its Dollars
From Staff Reports China's ambassador to the United States has taken steps to assure Congressional leaders that China has no plans to dump its U.S. dollar reserves as a way of retaliating against the United States for its attempts to strong-arm China into revaluing the Chinese Yuan currency, according to published reports. “I'd like to […]
Analyst: U.S. Commercial Printing Could Offer Refuge From A Volatile Market
By Jason Simpkins If you’re looking for a safe haven in today’s volatile U.S. stock market, Piyush Sharma, a senior equity research analyst for Longbow Research, has suggested the commercial printing industry might be a good place to seek shelter. Markets have been extremely sensitive recently as credit problems continue to escalate. The Dow Jones Industrial […]
Beware of the "Tipping Point"
From Staff Reports It’s called the “tipping point,” and it’s a term that strikes fear in the hearts of even the toughest global traders. Simply put, the tipping point is that specific place in time where there’s just too much bad news for an economic system to overcome. When that point is reached, the market […]
Nestle Loses AAA Rating From Fitch on $21 Billion Buyback
From Staff Reports And then there were three. It sounds like the title for an Agatha Christie novel, but it’s actually a commentary on the change in the top-tier of the global corporate credit market. European food giant Nestlé SA (OTC: NSRGY), the last European firm with the triple-A trifecta – Triple-A grades from Moody's […]
VWMare Shares Soar on Day Two Following Big Bang IPO
Newly public software firm VMWare Inc. (NYSE: VMW) saw its shares climb another $6.71 each, or 13.16%, to close at $57.71 yesterday (Wednesday), the day after the company went public.
Credit, Consumer Worries Slap Stocks
The credit crisis may get worse before it gets better in the coming months, as more than 2 million adjustable rate mortgages (ARMs) are ready to "re-set" – industry parlance for boosting their rates.
Home Depot is Latest Victim of U.S. Housing Slump
The troubles of Home Depot Inc. (NYSE: HD) continued to mount yesterday (Tuesday), when the home-improvement retailer announced that its fiscal second-quarter net income dropped 15%.
Foreign Markets Thrive; U.S. Closes With A Thud
By Jason Simpkins Central banks continued funneling cash into the world’s wounded financial systems Monday, the latest in a series of liquidity infusions that began last week. The European Central Bank offered another $65 billion in emergency funds, while the Bank of Japan injected $5.1 billion. The Federal Reserve again came in on the low end […]