All Posts Tagged With: "US Banking"
When Things Look Bleak the Dollar Goes Up
It doesn’t look as though it will be a Fantastico Friday in stocks. Yesterday was a bloodletting, overnight the Japanese stock market sold off 11%, and Europe is down about 9% at this point. UGH! But according to Chuck Butler, “When things look bleak, the dollar goes up… And when it looks as though all the stimulus might work, the dollar sells off…”
Global Investing Roundups Thursday, October 9th, 2008
Symantec Upgrade; Monsanto Sees Credit for Crops; AIG’s Costly Retreat; Wells and Citi Extend Ceasefire; Pending Home Sales Climb; Crude Hits Lowest Level in 2008
Why President Obama Would Damage US Economy Further
When US stocks dived following the passing of the bailout bill, President Bush sought to calm investors. He said it would “take a while” for the bill to take effect. Problem is George W doesn’t have much of time.
In less than one month, Americans will vote into office either Barack Obama or John McCain. Each has very different ideas about how to tackle the financial crisis.
Martin Hutchinson says Obama is most likely to win on a populist anti-Wall Street platform. But if he follows up this rhetoric with more regulation and protectionism, this could hurt US investors even more in the long run.
3 Reasons Why a Recession Is Inevitable
The feds are pulling out all the stops to end the rout in financial markets. On top of the Hank Paulson’s pork-laden bailout bill, the Fed is pumping hundreds of billions into the global financial system. It has even started buying up short-term commercial paper.
Today, the Fed joined other major central banks in a surprise and unprecedented coordinated rate cut. Still, US stocks open sharply lower.
William Patalon III says the Americans “have less money to spend … and are spending more for less.” He gives three reasons why the US is plunging into recession.
Global Investing Roundups Wednesday, October 8th, 2008
Retirement Plans Lose $2 Trillion; eBay Sells Out Workforce; Eli Settles Marketing Dispute; Morgan Stanley Gets OK on Capital Infusion; IMF Says Rough Economic Times Ahead; Wachovia Split?
Bank of America Shares Plunge on Earnings Shortfall, Major Dividend Cut
Shares of Bank of American Corp. (BAC) fell more than 26% during trading yesterday (Tuesday) as investors reacted to the company’s disclosure that it was cutting its dividend after its third-quarter earnings plunged a stunning 68%.
The Worst Is to Come… Here’s 3 Ways to Protect Your Portfolio
Despite a $700 billion bailout plan and huge injections of liquidity, money markets are frozen. Today, the London Interbank Offered Rate (LIBOR), which measures the cost of lending between banks, hit new record highs for all currencies.
Money Morning’s Keith Fitz-Gerald says this shows the worst is still to come in this credit crisis.
Keith has three recommendations for investors: 1) Hold T-bills; 2) Look for inverse investments; and 3) Include hard assets and inflationary hedges in your portfolio.
Citi’s (C) Assets Now Worth More Than You Pay for Them
Citigroup (NYSE:C) failed bid for Wachovia (NYSE:WB) would have expanded Citi’s deposit base and upgraded their bank infrastructure. But Wells Fargo (NYSE:WFC) swooped in and offered Wachovia $6 more a share and Citi’s plan went up in smoke as did it’s share price. But Citi is great value right now, according to Andrew Gordon.
Citigroup and Wells Fargo Continue to Vie for Wachovia
Global Investing Roundups Tuesday, October 7th, 2008
S&P Slashes RBS Rating; Dendreon’s Big Boost; Eli Lilly Comes Out Ahead on ImClone; AgFeed’s Hungry For Its Own Shares; Bank of America Surprises with Loss; Paulson Taps Another Goldman Exec.
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