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Coming off its worst week since November, Wall Street is now wondering if its late 2008 optimism about the economy was misguided — or at least premature.
Gold prices fell Monday, undermined by the dollar's advance on hopes for an economic stimulus package in the U.S. Meanwhile, energy and agriculture futures rose.
Treasury bond yields extended their advance Monday as investors braced for the possibility that the government will have to issue even more debt than the market has anticipated.
Caution returned to Wall Street Monday as investors gave back some gains from last week's rally even as they found some encouragement from a report that construction spending fell less than forecast. They were also upbeat about President-elect Barack Obama's calls for an economic stimulus package that could include tax cuts.
Wall Street will open for trading Monday at a two-month high as investors have grown more optimistic that the worst of the market's rout might be over. But, analysts contend, the real test is still to come.
Investors are preparing to close out the last three trading days of 2008 with Wall Street's worst performance since Herbert Hoover was president.
One week ago, Ronnie Ambrosino was a millionaire.
Don't expect Wall Street's turmoil to ebb in the year's last full week of trading as investors face questions about an auto bailout, the banking crisis, and the Federal Reserve's final rate-setting meeting of 2008.
As a condition for federal approval of PNC Financial Services Group Inc.'s purchase of National City Corp., the two companies will have to sell 61 National City branches in western Pennsylvania.
The chief executives of Morgan Stanley and Merrill Lynch & Co. are going without bonuses for a year that has seen Wall Street ravaged by staggering losses, mass layoffs and the collapse of storied firms.
Wall Street is opening mixed, with investors relieved about possible White House aid to the beleaguered auto industry but nervous about the growing list of firms affected by investment manager Bernard Madoff.
Don't expect Wall Street's turmoil to ebb in the year's last full week of trading as investors face questions about an auto bailout, the banking crisis, and the Federal Reserve's final rate-setting meeting of 2008.
Wall Street heads into another turbulent week on Monday, with Congress still hammering out a bailout for automakers and investors having to digest more data expected to show the economic malaise deepening.
Although Wall Street rallied smartly after the federal bailout of Citigroup Inc., investors burned during a 15-month market plunge probably don't expect this advance to be sustained any more than the upward blips that followed other government rescues of financial companies.
Wall Street faces another pivotal week, with investors enmeshed in a stock market knocked to 11-year lows amid growing fears about the fate of the nation's ailing automobile industry and banking system.
Mortgage rates sank again Wednesday, but investors are worried that getting a loan will still be a tough feat.
Morgan Stanley on Wednesday outlined plans to cut 10 percent of staff in its biggest business, which covers everything from investment banking to stock trading.
An anxious Wall Street proceeded cautiously Monday after last week's selloff, sending stock futures lower ahead of earnings from two major retailers.
Wall Street heads into another turbulent week with investors set to pore over a government report on retail sales and earnings from Wal-Mart Stores Inc. to get a better reading on the consumer.
Goldman Sachs Group Inc. has begun notifying about 3,200 employees globally that they have lost their jobs, as the world's biggest investment bank slashes expenses to ride out the financial crisis, a person familiar with the situation said Wednesday.
Traders and investment bankers might have more to worry about than dwindling bonus pools this year as mass firings on Wall Street are set to hit a record.
In a typical recession, stocks start recovering about six months before the economy does. The crisis we're in right now, however, is anything but typical: Lending is frozen, hedge-fund selling is happening on a massive scale, and economic troubles have spread all over the globe.
Amid weeks of stock market turmoil, many worried investors have been tracking the daily trajectory of the Dow Jones industrial average like never before.
Morgan Stanley Inc. shares plunged more than 22 percent Friday as investors questioned the investment bank's future even with a major investment from Japan's Mitsubishi UFJ Financial Group.
Will stocks benefit now that the government is letting investors bet on financial stocks going down? It's a strategy known on Wall Street as short selling. And, for three weeks, the government banned the practice to protect financial companies whose shares had come under siege.
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