Follow The Daily Ticker on Facebook here! In a best case scenario, the U.S. economy is destined for a Japanese-style malaise, otherwise known as an L-Shaped recovery, Nobel prize winning economist Joseph Stiglitz tells The Daily Ticker in the accompanying clip. In a worst case scenario, the U.S. is headed for many ‘double dip’ recessions [...]
The recent decline in Citigoup stock is “difficult to watch and naturally reminds all of us of what happened several years ago [but] there is little similarity between now and then,” Vikram Pandit said in a voicemail to Citi employees on Tuesday, The WSJ reports. Bank of America CEO Brian Moynihan similarly sought to allay [...]
A wild day in the stock market ended with solid gains for major averages as traders interpreted the Fed statement as a stealth easing of sorts. “Despite three dissents–the largest number since 1992–the committee adopted an even easier policy stance than expected,” Goldman Sachs’ economics team wrote in reaction to the FOMC statement. “First, the [...]
The day’s most interesting deals.
Follow The Daily Ticker on Facebook here! After Thursday’s market slide, Wall Street was tense ahead of the July jobs report. But when the numbers came in better than expected and the unemployment rate ticked down to 9.1% from 9.2%, there was a sense of relief and initially a rally. But this wasn’t going to [...]
And the hits keep coming … . After the worst week for stocks since the debt crisis of 2008-09, Standard & Poor’s has followed through on its warning and downgraded U.S. debt for the first time in history. This certainly adds to the crisis of confidence making its way through the market. Will this cause [...]
Well, it’s deja vu all over again. Even after a better than expected jobs report this morning the stock market rally has faded. All three major indexes are swinging between gains and losses in the first half of the trading day. For anyone who followed the market crashes of 2000-2002 and 2007-2009–especially the crash of [...]
By Daniel Gross The debt ceiling debate was resolved with a deficit-reduction package that consisted entirely of spending cuts. No tax increases, no closing of loopholes, no ending of tax credits, no cracking down on tax expenditures. So what should we look forward to in the coming year and a half? Probably some higher taxes. [...]
U.S. markets tumbled nearly 4% Thursday erasing any gains made in 2011 on fears that the U.S. and global economy are headed for yet another recession two years after the “Great Recession” ended. In a matter of just days, the overall outlook has gone from plugging along to a dramatically sever downshift. But after today’s [...]
By Daniel Gross On Thursday, the market’s sharp decline had analysts and observers rushing to make proclamations of an imminent double-dip recession. Writing in the Financial Times earlier this week — before Thursday’s mini-crash — economist Larry Summers pegged the chances of a double-dip at one in three.Others suggested that the decline, combined with a [...]
Provided by Joe Weisenthal of The Business Insider: The debt ceiling fight didn’t end in default (thank god) and in all truth it didn’t even result in severe austerity in the near term. The cuts next year aren’t actually all that dramatic, although they’re certainly very unhelpful at a time when the private sector is [...]
Well, it’s deja vu all over again. Even after a better than expected jobs report this morning the stock market rally has faded. All three major indexes are swinging between gains and losses in the first half of the trading day. For anyone who followed the market crashes of 2000-2002 and 2007-2009–especially the crash of [...]