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Existing Home Sales, Durable Goods, China PMI: Economic Events For May 21 - 25

This week's economic calendar is relatively light in the U.S. with the releases of existing home sales, durable goods orders, and the University of Michigan consumer confidence survey. Attention will likely focus on data out of Europe. Euro zone PMIs, Germany IFO survey, and first-quarter gross domestic product data for the U.K. will be released.
Facebook CEO Mark Zuckerberg

Facebook IPO: How To Buy Stock Shares, But Why It's Okay If You Don't Succeed

One of the biggest and most anticipated IPOs of the year, quite possibly the decade, is ready to hit Wall Street tomorrow, but if you're thinking about buying shares, you're not alone. Not in the least. If you're looking to get a piece of the stock, we're here to help you. But be warned: It will not be easy.
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J.C. Penney Stock Suffers Worst Drop Ever, 20%

J.C. Penney Co Inc shares plunged nearly 20 percent on Wednesday, their worst decline ever, wiping away $1.43 billion in market value a day after the retailer shocked Wall Street with a much worse-than-expected drop in sales and by scrapping its dividend.
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Ally Financial's Mortgage Unit Reported To File Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
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Ally Financial's Mortgage Unit Reported Near Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.
Gold Falls For Fourth Day As Euro Sags

Gold Prices Ease After French, Greek Elections

Gold eased on Monday after elections results in France and Greece that reflected strong anti-austerity feeling raised concerns over the euro zone's ability to battle its debt crisis, knocking the euro to a three-month low against the dollar.
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April Hiring Seen Picking Up

Employers likely increased hiring in April, although not enough to lower the country's 8.2 percent jobless rate, keeping pressure on President Barack Obama ahead of his November re-election bid.
Chevrolet cars on the parking lot of Tropical Miami General Motors dealership

GM First Quarter Earnings Slump Despite Strong U.S. Sales

General Motors Company (NYSE: GM), the world's largest auto company, reported profits down 69 percent for the first quarter, but the loss resulted from outsized, one-time profits the year before. Overall performance for the company was strong, with revenue driven 4.4 percent higher by strong U.S. sales and improved global margins.
Rising PMI indicates increased activity in U.S. manufacturing sector according to an ISM report, Monday.

US Factory Orders Drop On Faltering Aircraft Demand

Dragged down by a precipitous slump in demand for civilian aircraft, U.S. factory orders dropped at the highest rate in three years during March, data released by the Commerce Department Wednesday morning showed.
A demonstrator poses in New York's Bryant Square during the morning's May Day street action

Occupy Wall Street May Day Protest Early Pictures

In spite of organizers providing free coffee and bagels, planned May Day demonstrations across New York convened by the loosely organized movement against social and economic inequality known as Occupy Wall Street got off to a wet, slow, sleepy start. Much like the day itself, however, the street actions began warming up into the late afternoon and, by lunchtime, seemed to be close to going into full swing.

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