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Warren Buffett Is No ‘Card-Carrying Democrat’

Warren Buffett Is No ‘Card-Carrying Democrat’

Scott Eells/Bloomberg via Getty Images(WASHINGTON) — Billionaire Warren Buffett may be the poster child for President Obama’s tax plan, but the investment tycoon insists he is not a “card-carrying Democrat.”“I support certain R…

Are Layoffs Wall Street’s Answer to Down Stock Markets?

Are Layoffs Wall Street’s Answer to Down Stock Markets?

Hemera/Thinkstock(NEW YORK) — The industry that America loves to hate or envy may have a tough summer ahead, especially for its highest paid executives.Reports indicate Wall Street firms are far from recovering the numbers lost during the financial cr…

Dow Breaks Four-Day Losing Streak

Dow Breaks Four-Day Losing Streak

Hemera/Thinkstock(NEW YORK) — The Dow snapped a four-day losing streak, closing up 25 points Tuesday. The Nasdaq gained 18 points, and the S&P added 10 for the session. On Tuesday, stocks spent most of the session volleying between slight gai…

Stocks Suffer Year’s Worst Day on Jobs Report

Stocks Suffer Year’s Worst Day on Jobs Report

iStockphoto/Thinkstock(NEW YORK) — After a dismal May jobs report, U.S. stocks on Friday had their worst day in 2012, erasing the gains for the year and touching lows for a number of benchmarks.The S&P 500 index fell nearly 2.5 percent to 1,278 as…

Employers Added 69,000 Jobs in May; Unemployment Rate Up to 8.2%

Employers Added 69,000 Jobs in May; Unemployment Rate Up to 8.2%

Tim Boyle/Getty Images(WASHINGTON) — The nation’s jobs picture dimmed in May as employers added just 69,000 jobs and the unemployment rate ticked up to 8.2 percent. The latest numbers are a continuation of a long, slow employment recovery that began 3…

Stocks Settle in the Negative; Dow Has Worst Month in Two Years

Stocks Settle in the Negative; Dow Has Worst Month in Two Years

Hemera/Thinkstock(NEW YORK) — Stocks spent the last day of May moving between moderate losses and gains.At the end of what was the worst month for the Dow in about two years, the index Thursday closed down 26.41 points at 12,393.45. The Nasdaq lost 10…

Investor Anxieties over Europe Push Stocks Lower

Investor Anxieties over Europe Push Stocks Lower

iStockphoto/Thinkstock(NEW YORK) — Wednesday was a rough day for the markets with new worries about Europe’s financial problems pushing stocks into negative territory. The Dow lost 160.83 points Wednesday to 12,219.86.The Nasdaq gave up 33.63 poi…

Dow Climbs into Positive Territory; Facebook Continues to Slide

Dow Climbs into Positive Territory; Facebook Continues to Slide

Hemera/Thinkstock(NEW YORK) — An encouraging read on the housing market helped push the markets up to start the week. The Dow closed up 126 points Tuesday, while the Nasdaq and S&P added 33 points and 15 points, respectively.There are more signs t…

Facebook Shares Hit New Low

Facebook Shares Hit New Low

EMMANUEL DUNAND/AFP/GettyImages(NEW YORK) — Facebook shares fell 7 percent to below $30 on Tuesday, the lowest since the initial offering, as options trading on the stock began.The social network has been the worst-performing large IPO in at least a d…

Investor Concern for Eurozone Brings Stocks Lower

Investor Concern for Eurozone Brings Stocks Lower

Hemera/Thinkstock(NEW YORK) — New worries about the shaky financial situation in Europe kept the markets down to end the week. Trading Friday was light ahead of the Memorial Day Weekend. The Dow closed down 75 points, or 0.6 percent, to 12,455. T…

Obama’s Former Top Economic Adviser Hits Pace of Wall St. Reforms

Obama’s Former Top Economic Adviser Hits Pace of Wall St. Reforms

File photo. (ABC News)(CHICAGO) — In the summer of 2010, President Obama heralded the passage of a sweeping Wall Street reform bill by Congress that he claimed would reshape the financial sector and prevent another economic crisis like the one that ro…

Facebook Stock Jumps as Analysts Call for Better IPO Rules

Facebook Stock Jumps as Analysts Call for Better IPO Rules

EMMANUEL DUNAND/AFP/GettyImages(NEW YORK) — Facebook stock closed up for the second day in a row as Facebook’s underwriters continued to face heat over whether they gave an unfair advantage to preferred clients. Many average investors lost thousands o…

Stocks End the Day Mixed as European Concerns Linger

Stocks End the Day Mixed as European Concerns Linger

Hemera/Thinkstock(NEW YORK) — The markets finished mixed Thursday, with the Dow and S&P closing the session up 33 points and two points, respectively, while the Nasdaq gave up 11 points. Worries about Europe’s shaky financial situation kept t…

Late-Session Rally Reverses Stock Losses

Late-Session Rally Reverses Stock Losses

Hemera/Thinkstock(NEW YORK) — The markets staged a late-session comeback Wednesday, heading off what could have been one of the worst days in months. After falling off by almost 200 points earlier in the day, the Dow saw a late-session rally to 1…

Facebook Sued, Subpoenaed About IPO

Facebook Sued, Subpoenaed About IPO

Zef Nikolla/Facebook(WASHINGTON) — Facebook and its IPO underwriters are being sued and face pointed questions from lawmakers about whether they misled some investors before the largest initial public offering by a tech company in U.S. history. Facebo…

Regulators to Review Morgan Stanley’s Role in Facebook IPO

Regulators to Review Morgan Stanley’s Role in Facebook IPO

EMMANUEL DUNAND/AFP/GettyImages(NEW YORK) — Since its debut on NASDAQ last Friday, Facebook’s stock has been sliding, dropping from an initial public offering price of $38 to just under $32 by Tuesday’s close.Co-founder Mark Zuckerberg has already los…

Stocks Retreat from Monday’s Gains

Stocks Retreat from Monday’s Gains

Hemera/Thinkstock(NEW YORK) — The latest housing report didn’t do much Tuesday to help the markets.  The Dow closed down 1.6 points to 12,502.8, the Nasdaq lost 8 to 2,839, and the S&P dropped a fraction of a point to 1,316.6. Facebook i…

Facebook IPO: Lessons for Investors

Facebook IPO: Lessons for Investors

Peter Foley/Bloomberg via Getty Images(NEW YORK) — With Facebook’s stock down 11 percent at Monday’s close, many retail investors who thought they were getting the hot ticket in town may soon be playing hot potato with their Facebook shares.If there’s…

Shareholders Cut CEO Pay in Backlash

Shareholders Cut CEO Pay in Backlash

Adam Gault/Thinkstock(NEW YORK) — Amidst a climate of populist outrage and corporate missteps, shareholders are voting en mass to cut executive pay thanks to a new government rule called “say on pay.” The board of directors, who determine CEO pay, don…

Stocks Bounce Back from Losing Streak

Stocks Bounce Back from Losing Streak

iStockphoto/Thinkstock(NEW YORK) — The market regained some lost ground Monday. Stocks rose following a report that shows economists are more optimistic about housing and employment. The Dow had its best day since April 17. The index rose 135 poi…

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