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Five of America’s Biggest Banks Downgraded

Five of America’s Biggest Banks Downgraded

Scott Eells/Bloomberg via Getty Images(NEW YORK) — Moody’s Investors Service announced Thursday that it had downgraded the credit ratings of 15 banks, including five of America’s biggest financial institutions: Goldman Sachs, Bank of America, …

Wall Street Suffers Drop

Wall Street Suffers Drop

Hemera/Thinkstock(NEW YORK) — Stocks were down Thursday, with the Dow having one of its worst days in weeks.  The Dow closed down 251 points, while the Nasdaq lost 71 and the S&P plunged 31 points.Worries about the economy here and in Europe …

Stocks End the Day Flat

Stocks End the Day Flat

Hemera/Thinkstock(NEW YORK) — Stock prices dropped after a bleak forecast on the economy from the head of the Fed, but recovered a bit to end the session.While the Dow closed down 13 points and the S&P lost two points, the Nasdaq gained a fraction…

Stocks Higher Looking Ahead to Possible Fed Announcement

Stocks Higher Looking Ahead to Possible Fed Announcement

Hemera/Thinkstock(NEW YORK) — U.S. stocks rallied Tuesday, apparently in anticipation of a Federal Reserve announcement to further loosen lending in the U.S. economy.The Dow climbed 96 points to 12,837. The Nasdaq added 34 points to close at 2,929, an…

Jamie Dimon Defends Wall Street on Capitol Hill

Jamie Dimon Defends Wall Street on Capitol Hill

Scott Eells/Bloomberg via Getty Images(WASHINGTON) — JPMorgan Chase CEO Jamie Dimon was in the hot seat again today after the $2 billion and counting loss disclosed last month from theirchief investment office.Dimon testified before the House Financia…

Stocks Rise on Fed Stimulus Hopes

Stocks Rise on Fed Stimulus Hopes

iStockphoto/Thinkstock(NEW YORK) — Despite worries about Europe’s debt and financial crisis, U.S. stocks are up for a second straight week.  The big-stock Standard and Poor’s 500 Index and the Nasdaq have made gains four days in a row…

US and European Stocks Mixed at Close

US and European Stocks Mixed at Close

Hemera/Thinkstock(NEW YORK) — It was a roller coaster of losses and gains for U.S. stocks Monday, with stocks mixed at the closing bell.While the Dow ended the day slightly lower by 25 points, the S&P and Nasdaq inched up nearly two points to 1,34…

Asian Markets Rally After Greek Election Results

Asian Markets Rally After Greek Election Results

Comstock/Thinkstock(NEW YORK) — Asian markets rallied Monday morning after voters in Greece narrowly backed pro-bailout parties in the country’s weekend election.The New Democracy party squeaked by the leftist Syriza bloc in Sunday’s historic vote, 29…

Asian Markets Rally After Greek Election Results

Asian Markets Rally After Greek Election Results

Comstock/Thinkstock(NEW YORK) — Asian markets rallied Monday morning after voters in Greece narrowly backed pro-bailout parties in the country’s weekend election.The New Democracy party squeaked by the leftist Syriza bloc in Sunday’s historic vote, 29…

US and Foreign Markets Up as Investors Await Greek Vote

US and Foreign Markets Up as Investors Await Greek Vote

Comstock/Thinkstock(NEW YORK) — U.S. and European markets ended the week higher Friday, but investors will still be watching over the weekend with an important election to happen Sunday in Greece.The Dow closed at 12,767.17, up 115.26 points or 0.91 p…

Foreign News Sparks Strong Day for Stocks

Foreign News Sparks Strong Day for Stocks

Comstock/Thinkstock(NEW YORK) — U.S. stocks jumped on news that central banks from major economies will take action if there is trouble in markets after the Greek elections, according to experts. The Dow ended the day at 12,651.91, up 155.53 poin…

Stocks End the Day in the Red

Stocks End the Day in the Red

STAN HONDA/AFP/Getty Images(NEW YORK) — It was a rollercoaster ride for the markets Wednesday, but stocks finished the session in the minus column. Though the Dow inched up above 12,598 for a brief period, it eventually closed down 77 points at 1…

Stocks End the Day in the Red

Stocks End the Day in the Red

STAN HONDA/AFP/Getty Images(NEW YORK) — It was a rollercoaster ride for the markets Wednesday, but stocks finished the session in the minus column. Though the Dow inched up above 12,598 for a brief period, it eventually closed down 77 points at 1…

JPMorgan Chase CEO Jamie Dimon: Risky Trades Misunderstood

JPMorgan Chase CEO Jamie Dimon: Risky Trades Misunderstood

Andrew Harrer/Bloomberg via Getty Images(WASHINGTON) — JPMorgan Chase CEO Jamie Dimon told the Senate Banking Committee that the risky trades that led to billions in losses were taken by traders who didn’t understand the risks. He called the bad trade…

Dow Rebounds from Monday Losses

Dow Rebounds from Monday Losses

iStockphoto/Thinkstock(NEW YORK) — The markets recovered after Monday’s sell-off following some reassuring words from a Fed official. The Dow soared 163 points, closing at 12,573.80 and bouncing back from Monday’s 143-point loss. The Nasdaq rose …

US Stocks End the Day Down, Gas Down Again

US Stocks End the Day Down, Gas Down Again

Medioimages/Photodisc/Thinkstock(NEW YORK) — The initial excitement about the Spanish bailout didn’t last long.  The Dow closed at 12,411.23 — down 142.97 points or 1.14 percent. The S&P and Nasdaq were down, 16.73 points and 48.69 po…

Stocks Rally to the Positive; Obama Clarifies Private Sector Remarks

Stocks Rally to the Positive; Obama Clarifies Private Sector Remarks

Hemera/Thinkstock(NEW YORK) — Stocks ended the week in positive territory although investors are keeping an eye on Europe’s problems, which threaten to weaken the U.S. economy. The Dow closed up 93 points to end the week’s trading at 12,554. The …

Stocks Mixed as Bernanke in Wait-and-See Mode

Stocks Mixed as Bernanke in Wait-and-See Mode

iZtockphoto/Thinkstock(NEW YORK) — U.S. stock markets were up early in the day as China announced an interest rate cut, but moved lower as Federal Reserve Chairman Ben Bernanke started speaking Thursday. The Dow was positive for a third straight …

US Stocks Rise After Europe Takes New Steps Toward Recovery

US Stocks Rise After Europe Takes New Steps Toward Recovery

Comstock/Thinkstock(NEW YORK) — The markets had their best day in months with some cryptic developments in Europe sending stocks soaring Wednesday. The Dow surged 287 points, turning the average positive for the year, after May’s dismal showing. …

Nasdaq Outlines $40M Fund for Facebook IPO Glitches

Nasdaq Outlines $40M Fund for Facebook IPO Glitches

EMMANUEL DUNAND/AFP/GettyImages(NEW YORK) — The Nasdaq stock exchange announced a $40 million fund Wednesday to compensate investors who were “disadvantaged” by technical problems during Facebook’s rocky IPO on May 18.The Nasdaq OMX …

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