financial markets news stories on Newser

Wall St. Plotting for Debt Doomsday

Rob Quinn — Thu, 21 Jul 2011 06:13:18 CDT

As lawmakers scramble to hammer out a debt deal, Wall Street firms are working on ways to deal with America defaulting on its debt—and on ways to make a buck out of any upheaval. Treasury bonds function like a currency on Wall Street and default after the Aug. 2...

Madoff Is Wall Street's Hot New Investment

Rob Quinn — Fri, 17 Jun 2011 03:19:00 CDT

The wizards of Wall Street have found a way to turn Bernard Madoff into a hot investment. Big banks have been buying up the claims of the victims of Madoff's massive Ponzi scheme, offering scammed investors a fraction of what they are owed in the hopes of making big profits...

Asia Stocks Plunge

Jane Yager — Fri, 21 May 2010 03:42:00 CDT

Following a dismal day on Wall Street, Asian markets fell sharply today on news of an unexpectedly high US unemployment rate and worries about the growing debt crisis in Europe. The MCSI Asia Pacific Index was down 1.6 percent at 111.79, a 9-month low. Japan's Nikkei 225 stock...

Movie Stock Exchange Proves Wall Street's Mad

Kevin Spak — Fri, 12 Mar 2010 11:38:00 CST

The announcement that investors can soon buy “futures” in Hollywood movies, shouldn’t be too surprising—it’s the logical extension of what financial markets have become. Once tools for raising capital for real businesses, the markets “have turned themselves into high-tech casinos,” writes Steven Pearlstein of the Washington Post . Apologists say...

US Woes Send Asian Stocks Tumbling

Jason Farago — Tue, 23 Jun 2009 05:43:32 CDT

Stocks in Asia tumbled to their worst finish in weeks, reports the Wall Street Journal, as continued fears about the US economy led to a sell-off of resource companies and exporters. The Nikkei in Tokyo and the Hang Seng in Hong Kong both closed down about 3%, echoing a decline...

Bond Sales Drive Dow Up 32

Harry Kimball — Thu, 11 Jun 2009 15:16:35 CDT

Markets were up today on a successful sale of 30-year Treasury notes and other indicators of economic recovery, the Wall Street Journal reports. Bank of America saw a 9% upswing after its CEO testified on Capitol Hill. The Dow gained 31.90 to 8,770.92. The S&P rose 5....

Banks Rally Late; Dow Up 1

Harry Kimball — Mon, 08 Jun 2009 15:10:52 CDT

The market was level today as financials awaited notice of which companies would be allowed to pay back TARP funds, the Wall Street Journ al reports. The good news contrasted with a drop-off in commodities and a poor performance by Apple, which announced new iPhones, laptops, and operating systems. The...

Obama's Financial Regulation Plan Nearly Ready

Harry Kimball — Mon, 01 Jun 2009 16:46:56 CDT

The Obama administration is finalizing a legislative proposal that would strengthen the reach of financial regulatory agencies, the New York Times reports. The plan wouldn’t likely consolidate the four major bank regulators, which could meet with fierce opposition in Congress. “I don’t mind overlap as much as the idea of...

Cramer Ain't That Bad a Stock Picker, Actually

Harry Kimball — Wed, 20 May 2009 16:30:01 CDT

Jon Stewart, take note: Jim Cramer is not that bad at picking stocks, the New York Times reports. A study of Cramer’s televised market advice shows that the former hedge fund manager beat the market in 2005-07. The raw numbers from the fictional “Cramer portfolio” outperformed the S&P and other...