Banks set aside billions, expecting big consumer loan defaults

Jul 15, 2020
At the end of the first quarter of this year, U.S. consumers were a record $14.3 trillion in debt.
A view of the "Fearless Girl" statue on Wall Street. Americans' indebtedness is affecting banks' balance sheets.
Johannes Eisele/AFP via Getty Images

Wall Street zooms higher on news of labor market improvements

Jun 5, 2020
The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month.
Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market.
Kena Betancur/Getty Images

Do you sometimes wonder, what is the stock market thinking?

Jun 2, 2020
Mostly about the future — and the Fed.
Ever look at the stock market and make this face?
Johannes Eisele/AFP via Getty Images

What's behind some of the market volatility? Algorithms.

Mar 5, 2020
People don't buy and sell anymore. Computers do.
These days, computers and algorithms have replaced a lot of the action on the floor of the New York Stock Exchange.
Scott Heins/Getty Images

Stocks plunge, resuming volatility, as traders, analysts find data lagging

Mar 5, 2020
"Analysts have their hands in the air," one investment strategist says as markets struggle to predict the future.
There's evidence that the more markets go up and down, the more they are driven by emotion.
Johannes Eisele/AFP via Getty Images

How the vest became Wall Street's bulletproof armor

Apr 19, 2019
The fleece vest has become ubiquitous in the finance world. Manufacturers are taking note.
Jeff Bezos, chief executive officer of Amazon, arrives for the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. 
Drew Angerer/Getty Images

What can one company’s results tell us about the economy?

Apr 16, 2019
BlackRock's first-quarter performance exceeded expectations.
“We believe companies need purpose," BlackRock CEO Larry Fink says.
Toru Yamanaka / Staff

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Rebalancing the S&P 500 means a whole lot of trades

Mar 15, 2019
Friday was one of the four times a year when the S&P 500 rebalances itself. This means that some stocks leave this index and some come in. This also means that all the indixes and exchange-traded funds that track the…
The New York Stock Exchange.
Spencer Platt/Getty Images

BB&T-SunTrust deal may be the first of a wave of bank mergers

Feb 7, 2019
BB&T Corp. is buying its competitor, SunTrust Banks, in an all-stock deal. The merger of the two southeastern U.S. regional banks is the biggest in the consumer-banking sector since the financial crisis. To some extent, the merger’s the product of…
A Sun Trust bank flag flies above their bank in downtown Washington, DC.
PAUL J. RICHARDS/AFP/Getty Images

There's yet another proposal to get the government out of the mortgage-guarantee business

Feb 4, 2019
One of the last big unresolved issues from the financial crisis is what to do about Fannie Mae and Freddie Mac. Together with government-owned Ginnie Mae, they own or guarantee more than half the home loans in the country. Fannie…
Mortgage finance company Freddie Mac says rates on 30-year fixed mortgages fell below 3% this week. For some people, that's a chance to refinance.
Win McNamee/Getty Images