Stocks struggled Tuesday as energy stocks rose along with oil prices. But consumer-discretionary stocks dragged on the market after a disappointing consumer-confidence report.
Futures indicated a mixed open for Wall Street on Tuesday, with the tech-heavy Nasdaq due to begin the day in negative territory while the Dow Industrial Average and the S&P 500 index are expected to open higher.
Futures pointed to a higher open for Wall Street on Monday as a new week brings another heavy dose of corporate earnings, following the first weekly loss in three for the U.S. stock market's major averages.
Commercial real estate company Capmark Financial filed for bankruptcy protection Sunday, undone by declines in the sector and a heavy debt load related to its leveraged buyout.
The Capmark Financial Group, the big commercial real estate finance company cobbled together from pieces of GMAC, may file for bankruptcy as soon as this weekend, a person briefed on the matter told DealBook on Saturday.
Friday, 23 Oct 2009 | Source: The Associated Press
CIT Group, struggling to restructure billions in debt and stay out of bankruptcy court, could finalize a deal in the next 24 hours with Wall Street bank Goldman Sachs over a disputed payment on a $3 billion loan, according to a published report.
PricewaterhouseCoopers (PwC), which is in charge of collapsed U.S. bank Lehman Brothers' main European operations, is preparing a new claim of $90 billion against the U.S. parent of the failed bank, the Financial Times said, citing a PwC report to creditors.
PayNet, which provides analytic tools to the commercial credit industry, looked at 750 small business bankruptcy filers and found 50 percent were current with one or more of their lenders when they threw in the towel and sought protection from their creditors.
Stocks rebounded Monday as investors' waning enthusiasm got a jolt from a report that showed the services sector has begun to expand. Plus, there was some bargain hunting after the market's two-week decline.
Stocks rebounded Monday as investors' waning enthusiasm got a jolt from a report that showed the services sector has begun to expand. Plus, there was some bargain hunting after the market's two-week decline.
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