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July 24, 2008 2:10:28 PM CDT

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Stories related to: financial markets

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18 Stories

  • July 2008

    • Public Silence Greets Wall St. Blunders

      newser  |  Wall Street Journal  |  Jul 19, 08 3:10 PM CDT

      Public Silence Greets Wall St. Blunders

      America's financiers have driven the country into crisis with stunning recklessness, James Grant writes in the Wall Street Journal , but public anger seems strangely dormant. Populist politicians railed against Wall Street during past financial crises, Grant notes, but today's politicians appear largely uninterested in taking aim at the easy target. More »

      Tags

      Federal Reserve  • credit crisis  • Wall Street  • subprime crisis  • finance  • credit market  • financial markets  • subprime mortgage crisis  • financial institutions

    • Demonizing Shorters Won't Save the Likes of Lehman

      newser  |  New York  |  Jul 19, 08 9:34 AM CDT

      Demonizing Shorters Won't Save the Likes of Lehman

      Short-sellers have the power to utterly crush Lehman Brothers, as they did Bear Stearns, writes James Cramer in New York , but it's largely Lehman's own fault. Lehman shares much of the "mismanagement, arrogance and recklessness" that brought down Bear, Cramer opines in a piece that says excoriating short-selling hedge funds for running down Lehman stock, and accusing them of manipulation, misses the point. More »

      Tags

      Bear Stearns  • SEC  • hedge fund  • Lehman Brothers  • financial markets  • short selling

    • Here Comes Era of Activist Government

      newser  |  New York Times  |  Jul 18, 08 10:17 AM CDT

      Here Comes Era of Activist Government

      With daunting issues demanding immediate action—energy, the markets, and crumbling infrastructure to name but a few—the US is about to enter a phase of "government activism," writes David Brooks in the New York Times . Bad news for John McCain, right? Maybe not. As past periods of great change show, it is more often the conservatives leading the way in such eras . More »

      Tags

      John McCain  • health care  • politics  • energy  • financial markets  • infrastructure  • conservatives  • change  • Teddy Roosevelt

    • World Markets Tumble, Dollar Hits New Low

      newser  |  Bloomberg  |  Jul 15, 08 7:32 AM CDT

      World Markets Tumble, Dollar Hits New Low

      World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market territory, having lost 21% of its value since October. More »

      Tags

      US dollar  • euro  • Asian markets  • weak dollar  • financial markets  • yen  • European markets  • pound

  • June 2008

    • Fed Feared 'Contagion' If Bear Failed

      newser  |  Wall Street Journal  |  Jun 27, 08 1:30 PM CDT

      Fed Feared 'Contagion' If Bear Failed

      If the Fed hadn't taken the unprecedented step of helping bail out Bear Stearns, a sweeping "contagion" would have doomed the markets, its members say. In newly released minutes from its March 16 meeting, the Fed reasons that the “prominent position of Bear Stearns” left it no choice but to help JP Morgan's purchase, the Wall Street Journal reports. The minutes also reveal that JP Morgan was not the sole suitor—only the “most suitable,” and that fewer than five board members were in on the decision. More »

      Tags

      Federal Reserve  • Ben Bernanke  • Bear Stearns  • financial markets

    • Citi's Blahs Make Little Dent

      newser  |  MarketWatch  |  Jun 19, 08 3:38 PM CDT

      Citi's Blahs Make Little Dent

      Stocks posted moderate gains today as oil futures dropped below $135 per barrel on news of China's move to raise prices by trimming subsidies, MarketWatch reports. With traders little moved by warnings of further writedowns ahead for Citigroup, the Dow closed up 34.03, at 12,063.09. The Nasdaq gained 32.36, closing at 2,462.07, and the S&P 500 rose 5.02 to settle at 1,342.83. More »

      Tags

      S&P 500  • oil price  • Nasdaq  • credit crisis  • Dow Jones Industrial Average  • Bear Stearns  • Citigroup  • financial markets

    • Industry Shakeout Clips Hedge Funds

      newser  |  Wall Street Journal  |  Jun 17, 08 3:22 AM CDT

      Industry Shakeout Clips Hedge Funds

      A massive shakeout is transforming the world of hedge funds, the Wall Street Journa l reports. Tougher market conditions mean smaller funds are merging or closing their doors, and new ones are facing difficulty getting started. The business, which mushroomed from a few hundred firms to 8,000 over a decade, is increasingly dominated by "goliath" funds managing over $5 billion in assets. More »

      Tags

      hedge fund  • investment  • financial markets  • asset management  • capital  • capital markets

  • May 2008
  • March 2008

    • Treasury Wants Mega-Fed to Monitor Markets

      newser  |  New York Times  |  Mar 28, 08 10:14 PM CDT

      Treasury Wants Mega-Fed to Monitor Markets

      The Treasury wants a newly empowered Federal Reserve to monitor market stability and swoop in on institutions that threaten it, the New York Times reports. If approved by lawmakers, the Treasury plan would merge a jumble of regulatory agencies and combine the SEC with the Commodity Futures Trading Commission. But the plan also reduces or maintains current regulation in many cases—elements sure to provoke battles with Democratic lawmakers. More »

      Tags

      Federal Reserve  • Wall Street  • SEC  • Henry Paulson  • financial markets  • regulations

    • Why Close the Markets Today?

      newser  |  Bloomberg  |  Mar 21, 08 3:10 PM CDT

      Why Close the Markets Today?

      The Big Board is closed today—but the reason is open to some debate, Bloomberg reports. The last time the markets opened on Good Friday was 101 years ago, when they saw one of two huge crashes that made up the Panic of 1907. Fear of repeating that catastrophe may be what keeps traders home, but it may also be the lasting influence of Irish Catholic execs. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • New York Stock Exchange  • financial markets  • superstition  • Good Friday

    • Goldman Sachs Switches Forecasters

      newser  |  Bloomberg  |  Mar 18, 08 6:39 AM CDT

      Goldman Sachs Switches Forecasters

      Goldman Sachs has replaced its famously bullish chief forecaster, Abby Joseph Cohen,  with a less upbeat analyst, Bloomberg reports. Cohen will remain as senior investment strategist, handing over the daily predictions to David Kostin. Kostin sees a decline for the S&P 500 to 1160 in the short run, and a rebound to 1,380 by year's end. Cohen, by contrast, predicted in December that the index would reach 1,675 in 2008. More »

      Tags

      recession  • Goldman Sachs  • markets  • financial markets  • bear market  • bull market  • Standard and Poor

    • Will Lehman Be the Crunch's Next Victim?

      newser  |  MarketWatch  |  Mar 18, 08 4:52 AM CDT

      Will Lehman Be the Crunch's Next Victim?

      After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went public. But analysts, wary of giving vultures more reasons to circle, are watching what they say about the brokerage firm, Marketwatch reports. More »

      Tags

      Wall Street  • subprime crisis  • Bear Stearns  • Lehman Brothers  • financial markets  • brokerage

  • January 2008
  • October 2007

    • Stocks Dive on Citigroup News

      newser  |  Bloomberg  |  Oct 15, 07 3:40 PM CDT

      Stocks Dive on Citigroup News

      Stocks fell more than they had in over a month today after Citigroup reported a 57% third-quarter loss. Of the S&P's 10 industry groups, only energy advanced, with oil closing at a record $86.13 a barrel. The Dow lost 108.28 to close at 13,984.80, the S&P 500 fell 13.09 to 1,548.71, and the Nasdaq finished at 2,780.05, down 25.63. More »

      Tags

      stock market  • oil price  • Citigroup  • financial markets

  • September 2007

    • Windy City Finance Biz Lures New Yorkers

      newser  |  Chicago Tribune  |  Sep 23, 07 2:51 PM CDT

      Windy City Finance Biz Lures New Yorkers

      If a Chicago-based hedge fund goes public, can it relocate East Coast talent to the Windy City? Citadel Investment Group, which is signaling interest in an IPO, says many New Yorkers fall in love with the city. Yet some still give it the cold shoulder:  "A lot of people in New York still believe anything west of the Hudson [River] is the wilderness,"  says one exec. More »

      Tags

      Chicago  • New York  • hedge fund  • financial markets  • financial services  • Chicago Mercantile Exchange  • Citadel

    • Market Rallies on Corporate Gains, Labor News

      newser  |  MarketWatch  |  Sep 13, 07 4:12 PM CDT

      Market Rallies on Corporate Gains, Labor News

      US stocks rallied today, with blue chips and Countrywide Financial at the helm. A General Motors' analyst upgrade and  a higher-than-anticipated dividend at McDonald's helped drive the Dow up 133.23 points, to 13,424.88. Countrywide rose 14% on news that the battered lender has lined up $12 billion in financing. The Nasdaq climbed 8.99 to 2,601.06, and the S&P jumped 12.39 to 1,483.95, MarketWatch reports. More »

      Tags

      General Motors  • stocks  • crude oil  • labor  • Countrywide  • financial markets  • job market

    • Dollar Plummets to 15-year Low

      newser  |  Reuters  |  Sep 8, 07 1:18 PM CDT

      Dollar Plummets to 15-year Low

      Panic over the state of the US economy pushed the dollar to a 15-year low against major currencies yesterday. The drop came on larger-than-expected July payroll declines, data one analyst called “simply horrific.” Many fear that the credit crunch will drive down consumer spending, igniting a recession. Investors accordingly increased bets that the Fed will drop rates, Reuters reports. More »

      Tags

      US economy  • recession  • US dollar  • euro  • financial markets  • currency exchange  • Yen

  • July 2007

    • Dow Breaks 14,000 Barrier

      newser  |  Wall Street Journal  |  Jul 19, 07 10:13 PM CDT

      Dow Breaks 14,000 Barrier

      The stock market swept aside sub-prime anxieties today to surge past the 14,000 mark; the 82.19-point run-up was fueled by strong results from IBM and Exxon Mobil. It was the 32nd record close for the Dow Jones Index this year, and—with just 58 trading days since the market broke 13,000—the second-fastest 1000-point leap in Dow history, the Wall Street Journal reports. More »

      Tags

      Dow Jones Industrial Average  • investors  • New York Stock Exchange  • financial markets  • stock exchange

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