The days are so crazy, I have to write long after the markets close for fear of being outdated!
Pointwise the Dow posted its largest one-day gain ever, closing at 9,387.61. Bravo, bravo!!! Alas, even after today’s earth-shattering performance, I am not convinced.
I am waiting for the day when stocks stop trading as a market and start trading as individuals again. What […]
The most terrible days on the market are referred to as Black Monday and Black Thursday. In accounting and finance, “in the black” is a good thing. So, for me this label is a bit counterintuitive. After all, the biggest shopping day of the year is called Black Friday because huge sales on this day push many retailers from the […]
Did anyone see Jennifer Lopez at the NYSE today? I know a lot of people who were looking for her!
J.Lo is actually a Wall Street term for what looks like a rounding bottom in a pattern of stock prices. The pattern suggests a shift from bearish to bullish. Unfortunately, there were no signs of J.Lo at the NYSE, or […]
Today marks the one year anniversary of the all-time high for Dow Jones Industrial Average. The past year has seen plenty of ups and plenty more downs. The Dow closed today at 8,579.19 which is about 39 percent off of its closing value of 14,164.50 on October 9, 2007.
Today’s decline was the largest decline since October 1987. People are afraid to […]
I watched the Dow rise from 200+ points below to 30+ points above yesterday’s close in less than an hour. News of the synchronized central rate cut was supposed to set markets ablaze! What happened?
Well, I can’t quite comment on the effectiveness of this coordinated effort. Half of one day watching the stock market isn’t enough and I don’t believe […]
It seems as if the Fed is chartering new territory each day. Today’s territory: commercial paper.
Commercial paper is unsecured short-term debt that many banks and companies rely on to meet their short term cash needs. CP can be used for reasons ranging from daily expenses to stocking up seasonal inventories. CP is a money market security, as all issues mature in […]
Late last week, Wachovia agreed to merge with Wells Fargo in a $15 billion stock-swap.
Slight problem: Citigroup submitted a bid for Wachovia last Monday and is accusing Wachovia of violating an exclusivity agreement. Citi also accused Wells Fargo of “tortious interference.”
In the first round of court proceedings, a judge sided with Citi and blocked Wells […]
The highly anticipated bailout rescue plan was passed by the House of Representatives.
The new, sweetened deal includes some health care provisions, tax breaks for kids’ wooden arrow manufacturers, rum producers, and an increase to FDIC protection for bank accounts.
When the House was preparing to vote on the new bill, the Dow was up over 270 points. But, after news […]
Banks and lawmakers are pushing the SEC to relax standards placed on banks for mark-to-market accounting, which the banks say exaggerated the effects of the credit crunch.
As the name suggests, mark-to-market accounting is concerned with market value, meaning that the value of an asset on a firm’s books should be linked to its current market price NOT the price […]
General Electric has a hand in everything, but has still managed to fall victim to the credit crunch.
Now, GE plans to sell $15 billion worth of new stock, $3 billion in preferred and $12 billion in common stock. The preferred stock has snagged a buyer in one Berkshire Hathaway. I’m with Warren Buffett on this […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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