Stocks were heading for a higher open on Wednesday on optimism about renewed deal activity and speculation the Federal Reserve might cut its benchmark interest rate to calm turbulent markets.
Experts are reassuring investors that U.S. money market mutual funds, which have gathered about $165 billion in new assets over an eight-week period, are safe from the subprime mortgage problems that have caused steep losses at several hedge funds.
The S&P 500 and Nasdaq rose on Tuesday as a signal that the Federal Reserve might cut its benchmark interest rate soon muted persistent concerns about withering credit markets.
German banks face a critical situation because foreign banks are reluctant to lend to them after the joint rescue of small-company lender IKB, state-backed lender WestLB's chief executive said.
U.S. private equity fund Lone Star confirmed on Tuesday it was in exclusive negotiations with HSBC to sell its 51 percent stake in Korea Exchange Bank, with a market value of $4.8 billion.
Stock markets may have fallen sharply from their recent highs over the past weeks, but there is a wall of money sitting out there that could turn it all into a far greater rout.
Gold slipped with stock markets and other commodities on Tuesday as fears about the effect of a global credit squeezed lingered, analysts said.
The yen gained broadly in volatile trading on Tuesday as persistent jitters about global credit conditions prodded investors to sell more risky assets funded by borrowing at low rates in the Japanese currency.
Marsh Inc. the world's largest insurance broker and risk adviser, on Monday warned financial institutions they may face more claims as a result of the subprime mortgage crisis.
The U.S. Securities and Exchange Commission filed civil fraud charges on Monday against Sentinel Management Group Inc, the cash management firm serving the U.S. futures industry that filed for Chapter 11 bankruptcy protection late on Friday.
Shares of KKR Financial Holdings LLC (NYSE: KFN), an affiliate of private equity giant Kohlberg Kravis Roberts & Co., rose over 8 percent on Monday after it announced a plan to raise $500 million in cash from investors, including existing shareholders.
As the stock exchanges prepare to release their monthly short interest reports this week, Wall Street is waiting with more anticipation than usual.
China Minsheng Banking Corp is in the final stages of talks to buy control of a domestic trust firm, as it diversifies in the financial sector, two sources familiar with the situation said on Monday.
Gold gained on Monday with a drop in the dollar and recovery in stocks, but investors remained cautious as they digested the U.S. federal reserve's surprise move to slash the rate it charges banks on loans.
The yen fell on Monday, giving up some of last week's steep gains, as some risk appetite returned to the market after the Federal Reserve's surprise decision on Friday to cut its discount lending rate.
Stocks were little changed on Monday as investors mulled the likelihood of more Federal Reserve action after Friday's surprise cut in the rate at which banks borrow from it.
Luminent Mortgage Capital Inc, which has struggled with liquidity problems because of investments in mortgages, on Monday announced a bailout in which it would sell a majority stake in itself at a deep discount.
Asian companies will have a tough time raising funds and face weaker export demand if the global credit squeeze persists and a deteriorating U.S. housing market crimps consumer spending.
HSBC Holdings Plc said on Monday it was in talks to buy a majority stake in Korea Exchange Bank (KEB) worth $4.8 billion from Lone Star, the latest chapter in a lengthy financial and judicial saga.
U.S. index futures pointed to a firmer start on Wall Street on Monday, building on gains in the previous session after the Federal Reserve cut the discount rate it charges banks, and with little scheduled news on the agenda.
Clients are urged to sell shares and build up cash until stock markets settle and low prices opportunities emerge.
Countrywide Financial Corp shares leaped higher on Friday after the U.S. Federal Reserve lowered a key borrowing rate, making it easier for lenders to obtain credit.
