NEW YORK (AP) — Bank of America Corp. said Tuesday it lost $7.65 billion during the third quarter due to a charge related to credit and debit card reform legislation passed over the summer. In a dramatic shift, the bank also said it will change its consumer banking strategy to focu…
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Stocks rise on reports CIT close to rescue – Wall Street
Posted on: July 21st 2009 in Press Releases.
NEW YORK (AP) — The stock market is extending a big rally from last week on more upbeat earnings and word that troubled lender CIT will avoid bankruptcy. Both the Dow Jones industrials and the Standard & Poor’s 500 index edged above their recent highs from mid-June on Mo…
Wall Street sags on oil; S&P ends worst week in 2 months
Posted on: May 16th 2009 in Market News.
NEW YORK: U.S. stocks stumbled on Friday as energy shares dropped along with oil prices on worries about weak demand, overshadowing fresh reassuring economic data. A batch of reports, including consumer prices and sentiment, reinforced hopes that the recession was easing and gave the mar…
US stocks jump as fears ebb about ‘stress tests’
Posted on: May 7th 2009 in Press Releases.
Investors felt more confident putting their money into banks on the eve of a government report card on big financial companies. Bank stocks pulled the market higher Wednesday as media reports trickled out that indicated balance sheets at major lenders …
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