Stocks opened the week with sharp losses as the Wall Street Journal reported that Citigroup may report a quarterly loss of over $10 billion. Adding to Citigroup’s problems is the news that it is nearing a deal to sell a controlling stake in its Smith Barney unit. This is regarded as one of Citigroup’s best [...]
Stocks fell sharply today after the Labor Department announced that unemployment reached 7.2% in December — the highest level in 16 years. 2.6 million jobs were lost in 2008, with most losses occurring at the end of the year. The KBW Banking Index fell 4.23% today, and the KBW Regional Banking Index fell 5.01%. [...]
Stocks were mixed today after lawmakers reached an agreement with Citigroup to allow bankruptcy judges to alter loans in bankruptcy in an effort to stem the tide of foreclosures — a move the lending industry has fought in the past. The KBW Banking Index fell 0.36% and the KBW Regional Banking Index fell 0.50%. [...]
Stocks plummeted today after data showed higher December job losses than expected. The KBW Banking Index fell 5.33% and the KBW Regional Banking Index fell 5.06%. The S&P 500 Index was down 3.00%.
Bank stocks increased today, as the KBW Banking Index rose 1.36% and the KBW Regional Banking Index rose 0.26%. The broader S&P 500 Index was up 0.78%.
Bank stocks declined today, as analysts from Deutsche Bank cut their forecasts for a number of financial companies. The KBW Banking Index fell 3.67% and the KBW Regional Banking Index fell 4.37%. The broader S&P 500 Index was down only 0.47%.
Stocks began 2009 with large gains, as the S&P 500 Index increased 3.16%. Bank stocks were mixed, as the KBW Banking Index rose 1.94%, while the KBW Regional Banking Index fell 0.30%.