Thank goodness, October is over.
Market historians were busy last month rewriting the record books on what seemed like a daily basis. Unfortunately, many of the new records were the type that we’d prefer to have remained unbroken. Here are a few of the new entries:
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There’s only one word to describe what took place in the financial markets last week - ugly.
You probably don’t need to glance at the box score below to know that stocks dropped significantly last week. Monday’s dizzying drop of 777 points in the Dow Jones Industrial Average, attributed to the House of Representative’s failure to [...]

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Earlier this year, some investors thought the key to a rising stock market was to see a big drop in the price of oil. Well, we’ve now seen a 27% drop in the price of oil since its July 3 closing high, but, as of last Friday, stock prices were still languishing near their July [...]

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You read right. Fannie Mae and Freddie Mac were seized by the government today, the goal being to rectifying the disaster that’s taken place over the last year in the housing and mortgage debacle. Treasury Secretary Henry Paulson, and the Director of the Office of Federal Housing Enterprise, James Lockhart, laid out a plan that [...]

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As we wrapped up the traditional end of summer last week, buyers and sellers were scarce on Wall Street.
For the first three trading sessions last week, volume on the New York Stock Exchange was the lowest of the year, according to Briefing.com. Apparently, investors decided it was time to relax a bit. Unfortunately, for [...]

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While it’s dropped in recent weeks, it’s no secret that the price of oil is at record levels, jacking up how much you pay each week for a gallon of gas. And while it’s been likely a non-factor over the past few months in terms of how much you’re paying to keep your house warm [...]

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The tug of war in the stock market ended in just about a draw last week as the Standard & Poor’s 500 index rose a fraction.
Since the beginning of the year, the S&P 500 index has traded in a range roughly between 1,215 and 1,450, according to data from Yahoo! Finance. However, when you consider [...]

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It’s no secret subprime mortgage borrowers default. But now it’s getting worse. Borrowers of prime mortgages are starting to default, and that spells trouble for a housing market already grasping for air.
Prime mortgages, or mortgages made to borrowers with good credit, are normally seen as safer bets for lenders, at least until now, anyway. Last [...]

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If you simply look at the trend of our gross domestic product (GDP) over the past three quarters, you might get the impression that the economy is poised for takeoff. But, just like you shouldn’t judge the quality of a bottle of wine based on the beauty of its label, you shouldn’t trust statistics without [...]

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Record profits. Again.
Seems like big oil just keeps raking it in while us, the little ‘ol fuel consumer, keeps getting kicked in the tail end.
Exxon’s earnings were up 14%, breaking the highest ever profit by any U.S. company–which was, yep, Exxon. Congrats Exxon. You should be proud of the astronomical returns you’re bringing [...]

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