Facebook stock has reached a new low following news that analysts at Bank of America/Merrill Lynch and Bank of Montreal have lowered their price target for the stock. [More]
US markets fell 200 points on news that Greece could be on the precipice of defaulting on its debt. Wait, haven’t they been talking about that all summer? Yes, but this comes after the Germans, key players in resolving the crisis, are now publicly saying that Greece may default in a messy way. [More]
Bank of America’s CEO Brian Moynihan posted an email to the company’s intranet telling the rank and file to keep their chins up amidst their sinking stock price and news that they would be sued by AIG for selling crap mortgages. [More]
After swooning on Monday following S&P’s downgrade of US bonds, stocks posted gains on Tuesday as investors saw the over-reaction as a buying opportunity. Now investors look to see what the Federal Reserve policy board might say after their meeting later today. [More]
The plunges in the past week in the stock market are gut-wrenching but those who panic and sell off right now are going to be kicking themselves later, says legendary economist and former director of The Vanguard Group Burton Malkiel. The most you should do is rebalance your portfolio. [More]
Markets opened on an upswing Friday as the labor report came in at 117,000 jobs added for July, higher than the predicted 85,000. The unemployment rate even ticked downwards to 9.1% from 9.2% in June. But the rally quickly evaporated as concerns about the growing European debt crisis and how government spending cuts might stymie economic growth took precedence. [More]
Global stocks fell broadly Thursday afternoon amid worsening concerns about a global economic cooling and a European debt crisis. Each of the three major US indexes were down, deleting all the gains they had made so far this year. [More]
Markets rose as a day before the Labor Department releases its official monthly jobs report, two other reports came out that strongly suggesting it will be a pretty good one. [More]
With the Feds buying up more Treasuries, bonds are looking attractive. But how much of my portfolio should I have invested in bonds? What’s the proper asset allocation between stocks and bonds? Well, an old-school rule of thumb is that you subtract your age from 110. [More]
The Fed voted Tuesday to reinvest expiring mortgage-backed securities by putting the money into longer-term Treasuries. That, and the decision to keep rates at 0 to 1/4 percent, should keep mortgage rates low. Here’s the full statement following their coffee klatsch: [More]
Markets edged upwards Monday, betting that the Federal Reserve will vote tomorrow to inject more money into the system by buying up more mortgage-backed securities and Treasuries. [More]
Feeling poorer lately? You are! A new government report says that $1.3 trillion dollars of American wealth was vaporized in the first quarter of 2009.
BusinessWeek has an interesting article about the economics of regional airlines — the smaller companies that are subcontracted to operate the less profitable routes for major airlines. Some were stunned to find out that first officer on the flight that crashed in Buffalo, NY only made $23,900 a year. Is this too little?
Bad day on Wall Street today, folks. The S&P 500 closed at the lowest level since April 1997.
Sales of existing homes are up, which sounds like good news — except that if you really look at what is going on — it’s really sort of bleak. About half of all home sales in December were foreclosures, says Marketplace, where the house is sold for less than what is owed on the mortgage.
I just don’t get it. Does Consumerist know of a good media source that has a *current* (i.e., in the last week or two) breakdown of why the heck gasoline prices are rising 10 cents a week and more in the last month?