credit market

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US Lost Jobs for First Time in 4 Years

August payroll drop shows subprime crisis affecting economy

(Newser) - In the first drop since 2003, the US lost 4,000 jobs in August, surprising experts and putting more pressure on the Fed to reduce rates at its upcoming meeting. Economists had predicted an increase of 100,000 or more jobs. The decline in employment is the clearest signal to...

Credit Crunch Doesn't Dampen Retail Numbers

Luxury, back-to-school shoppers drive August figures up

(Newser) - Better-than-expected retail sales figures for August, which built on healthy back-to-school and luxury shopping, raised hopes today that turbulent markets won't take too big of a bite out of holiday-season sales. Wal-Mart and Target made out well, as did luxury emporiums such as Saks. "It bodes well for Christmas,...

Fed Could Take Credit Crunch Fix to the Bank

Interest rates may drop, but deposit rates could go with them

(Newser) - If you have CDs or a savings account, you may be contributing, soon enough, to the solution to the credit market upheaval, the LA Times reports. Some investors expect the Federal Reserve to cut short-term interest rates next month, a move that could inspire banks to raise money elsewhere by...

Bernanke Vows to Combat Mortgage Mess

Fed ready to step in; Wall Street holds out hope for rate cuts

(Newser) - In his first comments on the subprime mortgage meltdown, Ben Bernanke today vowed the Federal Reserve “will act as needed” to contain the turmoil, preventing it from weakening the broader economy. The Fed chief pledged the central bank would “take additional actions” if necessary. “It is clear...

Stocks Shake Before Fed Speech
Stocks Shake Before Fed Speech
Aug 30, 2007 4:31 PM CDT

Stocks Shake Before Fed Speech

Wall Street awaits Bernanke's priorities in Friday address

(Newser) - Technology shares are still on the rebound, but the credit market continues to shake other stocks as traders await Ben Bernanke's speech on Friday. The tech-heavy NASDAQ gained 2.14 today, to close at 2565.30. But the Dow slipped 50.56 to 13238.73, and the S&P 500...

Home Prices Show Record Drop
Home Prices Show Record Drop
Aug 28, 2007 11:21 AM CDT

Home Prices Show Record Drop

Consumer confidence off too; the credit market is to blame, again

(Newser) - The credit market is continuing to weigh on economic indicators, Bloomberg reports, as home prices and consumer confidence both notched records in their downward swoon. A report released today showed home values down an unprecedented 3.2% in the second quarter. Consumer confidence this month fell to its lowest levels...

New-Home Sales Grow, Spur Wall St.
New-Home Sales Grow, Spur Wall St.
Aug 24, 2007 11:21 AM CDT

New-Home Sales Grow, Spur Wall St.

But new figures don't fully reflect credit market's impact, analysts say

(Newser) - New-home sales grew 2.8% last month, delivering an unexpected bit of good news to investors still reeling from the credit crunch. But the housing market, which had been rebounding in recent months from a slump, will likely show renewed weakness after he mortgage crisis dust settles, Bloomberg reports.

Credit Jitters May Put KKR Offering on Ice

Private equity firm denies reports its IPO will be delayed

(Newser) - The Times of London claims that buyout firm KKR has postponed plans for a $1.25B float and a public listing because of the fallout from turbulent credit markets. The company had planned its IPO this September but has reportedly pulled back due to waning investor confidence following the subprime...

Monthly Foreclosures Climb Again
Monthly Foreclosures Climb Again
Aug 22, 2007 2:34 AM CDT

Monthly Foreclosures Climb Again

Figures jump 93% over 2006; 1 in every 693 households in default

(Newser) - Foreclosure numbers were up big again in July, rising 9% from June’s figures and a whopping 93% from a year ago, an unwelcome sign for already reeling credit markets. Foreclosures rose in 43 states, but California, Florida, Michigan, Ohio and Georgia accounted for over half of the the activity,...

Credit Crisis: Damaging or Deserved?

Economist calls risk adjustment necessary, if hazardous

(Newser) - The Economist takes the long view on the turmoil that has engulfed the financial markets, noting that investors have long wondered whether the "the securitisation of just about every form of debt into a tradable asset" would, in the end, spread risk efficiently or lead to cataclysmic failure. The...

Loan Giant Downgraded to 'Sell,' Faces Bankruptcy

Top US mortgage lender caught in the squeeze

(Newser) - Loan giant Countrywide saw its shares plummet 13% yesterday after the company experienced trouble borrowing money in the market for short-term debt. A Merrill Lynch analyst downgraded the stock from "buy" to "sell," sparking talk of possible bankruptcy, reports the LA Times. Before today's open, the company...

Credit Fears Sink Asian Markets
Credit Fears Sink Asian Markets
Aug 15, 2007 3:08 AM CDT

Credit Fears Sink Asian Markets

Nikkei drops as subprime crisis rocks world

(Newser) - Global credit turmoil rocked Asian markets today, pushing Japan’s Nikkei to 2007 lows, as US and Canadian firms struggled to meet payments and Wal-Mart and Swiss Bank UBS released disappointing forecasts. Through it all the Yen rose, as risk-averse investors turned to some safe havens in Japan, Reuters reports.

Markets Cling to Stable Condition
Markets Cling to Stable Condition
Aug 10, 2007 3:33 PM CDT

Markets Cling to Stable Condition

(Newser) - Major US indexes reeled today, after a wild seesaw session in which a Fed bailout rescued Wall Street from a veritginous selloff this morning. The Dow closed at 13239.54, down 31.14, after initial rumors of a broad but blurry liquidity crisis crashed it over 100 points in early...

Fed Pumps $19B Into Market
Fed Pumps $19B Into Market
Aug 10, 2007 8:39 AM CDT

Fed Pumps $19B Into Market

Will add $19B in temporary funds to bolster credit markets

(Newser) - The Federal Reserve pumped $19 billion in temporary funds into the banking system today by buying up mortgage-backed securities. The move is aimed to insure that there is enough cash available in the credit markets and keep the interest rate close to the Fed's target of 5.25%. It also...

Stories 101 - 114 | << Prev