Jurors will finally have a chance to hear directly from Jeffrey Gundlach when the outspoken "king of bonds" takes the stand, expected as soon as Wednesday, in his high-stakes courtroom battle with his former employer, Trust Company of the West.
All eyes are on Bank of America (NYSE: BAC) ahead of Tuesday's opening bell after the banking giant suffered a 20 percent loss on Monday's trading.
The companies whose shares are moving in pre-market trade on Tuesday are: MetroPCS Communications, Bank of America, NYSE Euronext, AK Steel Holding, Regions Financial, Regions Financial, MEMC Electronic Materials, Halliburton, Duke Energy, Bristol Myers Squibb and Plum Creek Timber.
U.S. markets were poised to open higher Tuesday as futures rose based on anticipated action from the Fed.
FBR Capital Markets upgraded its rating on shares of Wells Fargo & Co. (NYSE: WFC) to "outperform" from "market perform" while maintaining its price target of $31 as valuation was too attractive to ignore.
New legislation for the reverse mortgage industry would enshrine in law many standards already applied by the industry body.
Mortgage giant Freddie Mac is seeking a $1.5 billion dollar bailout after announcing a $4.59 billion dollar loss in the most recent quarter.
The Dow lost four percent in trading mid-day Monday, while the Nasdaq and S&P lost five percent. President Barack Obama addressed downgrade Monday, but the markets dropped further after his comments.
Bank of America's stock tumbled Monday, down 16 percent as investors reacted to a lawsuit filed against the bank by AIG.
Trump believes the whole thing is a ?publicity stunt? by S&P.
The former labor secretary described S&P?s downgrade maneuver as an ?ironic? intrusion into American politics.
These institutions process trades and are key to the daily operation of the U.S. financial markets.
Gold vaulted above $1,700 an ounce for the first time on Monday after pledges by the G7 and the European Central Bank to quell the turbulence in the financial markets did nothing to put investors at ease.
Eighth season on Wisteria Lane will be the last
Global investors flock to precious metal as safe haven.
BlackRock, the world's largest money manager, is looking for opportunities to buy U.S. mortgage agency debt in the wake of Standard & Poor's downgrade of the U.S. sovereign rating, said Rick Rieder, the firm's chief investment officer of fixed income, fundamental portfolios.
U.S. insurance giant American International Group
is planning to sue Bank of America to recover more than $10 billion in losses on $28 billion of investment in mortgage-backed securities, the New York Times said citing three people with knowledge of the complaint.The downgrade (while perhaps not a total surprise) arrived somewhat unexpectedly ? and during a period when markets are already in an extremely volatile and fragile state.
S&P?s stunning and controversial downgrade Friday in part reflected the firm?s assumptions about the U.S. political system?s ability to solve its problems. Others hold a more optimistic view, as Winston Churchill did. Churchill said, ?In the end, you can count on America to do the right thing - after she?s exhausted all other possibilities.?
The fact that U.S. Treasury bonds managed to cling to their coveted triple-A rating this week failed to impress several prominent bond fund managers, who say they are lightening up on Treasuries and stocking their portfolios with corporate bonds instead.
Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street Journal reported on Saturday.
America's credit rating was downgraded for the first time in history. This will likely have dire consequences on mortgage and credit rates, not to mention the unemployment rate, which now stands at 9.1 percent.
