GraceCheng1

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Member Since: November 12, 2006

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This story has mostly positive ratings. 31 votes / No sinks

Dollar Pulled Down By Poor Durable Goods Orders

Money – US durable goods orders for February are quite bad, with overall orders down 1.7% instead of the expected 0.8% rise, while orders excluding transport equipment fell 2.6%. Although this was an improvement from the 4.7% drop in January, it was still worse than expected. The current housing slump and the prospect of a recession made companies reluctan

View Story Discuss (0) (gracecheng.com) 115 days ago by GraceCheng1

Submitted and Voted for on March 26, 2008 03:17pm

This story has mostly positive ratings. 31 votes / No sinks

Dow Falls On Citigroup's Profit Outlook

Money – After four trading days of rally, the Dow Jones Industrial Average (^DJI: 12451.19 -81.41 -0.65%) fell for the first time, weighed down by the decline in financial stocks, which are retreating by the biggest amount in nearly two weeks. Citigroup (C: 22.03 -1.39 -5.94%), the largest US bank, slumped the most in the Dow after

View Story Discuss (0) (gracecheng.com) 115 days ago by GraceCheng1

Submitted and Voted for on March 26, 2008 03:13pm

This story has mostly positive ratings. 26 votes / No sinks

Unexpected Rise In US Existing Home Sales

Money – US existing home sales came out better than expected, and posted the the first gain in seven months in February. The National Association of Realtors said Monday purchases increased 2.9% to an annual rate of 5.03 million, vs the 4.85 million projected. This was better than January's 4.89 million pace. However, house prices fell by the most in four

View Story Discuss (0) (gracecheng.com) 117 days ago by GraceCheng1

Submitted and Voted for on March 24, 2008 01:28pm

This story has mostly positive ratings. 26 votes / No sinks

Stocks Rally On JPMorgan's Revised Offer For Bear Stearns

Money – y after JPMorgan (JPM: 47.27 1.30 2.83%) announced it is increasing its bid for Bear Stearns (BSC: 12.009 6.0489 101.49%) to $10 a share, from the initial $2 per share offer, in a move to placate unhappy shareholders who weren't at all satisfied to see Bear Stearns taken

View Story Discuss (0) (gracecheng.com) 117 days ago by GraceCheng1

Submitted and Voted for on March 24, 2008 01:25pm

This story has mostly positive ratings. 31 votes / No sinks

US Stocks Ended the Week Up

Money – The Standard & Poor's 500 Index (^GSPC: 1329.51 31.09 2.39%) rose 3.2% to 1,329.51 this week, posting its first weekly gain in a month. Its loss so far this year stands at 9.5%. The Dow Jones Industrial Average (^DJI: 12361.32 261.66 2.16%) advanced 3.4% to 12,361.32. Bank stocks have had their biggest rally this week

View Story Discuss (0) (gracecheng.com) 119 days ago by GraceCheng1

Submitted and Voted for on March 22, 2008 01:19pm

This story has mostly positive ratings. 20 votes / No sinks

S&P Cuts Credit-Rating Outlook of Goldman and Lehman

Money – On Friday, Goldman Sachs (GS: 179.63 13.14 7.89%) and Lehman Brothers (LEH: 48.65 6.42 15.20%) had their credit-rating outlook cut to negative by Standard & Poor's, which said Wall Street banks' profits may decline as much as 30% this year. S&P said in a statement that their current expectation is that net revenue could decline

View Story Discuss (0) (gracecheng.com) 120 days ago by GraceCheng1

Submitted and Voted for on March 21, 2008 01:59pm

This story has mostly positive ratings. 22 votes / No sinks

US Dollar Rebounds On US Stock Rally

Money – Traders continue to pare their short USD positions against major currencies like the Euro, Swiss franc, Japanese yen and the British pound. Although interest rate differentials do not favor the US dollar in the medium- to long-term, the currency has managed to recover on the back of a strong rally in US stocks after the

View Story Discuss (0) (gracecheng.com) 122 days ago by GraceCheng1

Submitted and Voted for on March 19, 2008 01:10pm

This story has mostly positive ratings. 26 votes / No sinks

Fed's Big Rate Cut Lifts Global Stocks

Money – The resemblance is uncanny. On Tuesday, US stocks had the biggest rally in five years, just like one week ago exactly, thanks to better-than-estimated earnings from Goldman Sachs (GS: 175.59 0.00 0.00%) and Lehman Brothers (LEH: 46.49 14.74 46.43%) and a chunky 75 basis points of rate cut by the Fed. The fed funds rate

View Story Discuss (0) (gracecheng.com) 123 days ago by GraceCheng1

Submitted and Voted for on March 19, 2008 01:09am

This story has mostly positive ratings. 22 votes / No sinks

Brokerage Stocks Nosedive On Bear Fallout

Money – Everyone seems to have mixed opinions on whether or not JPMorgan Chase (JPM: 40.31 0.00 0.00%) got a good deal by paying only $2 a share for 85-year-old Bear Stearns (BSC: 4.81 0.00 0.00%). This valuation is at just 6% of its market value last Friday and a huge drop from its record share price

View Story Discuss (0) (gracecheng.com) 124 days ago by GraceCheng1

Submitted and Voted for on March 18, 2008 01:33am

This story has mostly positive ratings. 25 votes / No sinks

US Dollar Tumbles Ahead of FOMC Meeting

Money – March 17th, 2008 - The New York Fed's Empire State general business conditions index fell to -22.23 in March from -11.72 in February. Market players had expected an improvement in March to -8.00. This reading was the lowest since the index was launched in July 2001. The report said, "The Empire State Manufacturing Survey indicates that condit

View Story Discuss (0) (gracecheng.com) 124 days ago by GraceCheng1

Submitted and Voted for on March 17, 2008 02:05pm

This story has mostly positive ratings. 20 votes / No sinks

Bear Stearns Is Now Worth $2 Per Share

Money – On Sunday evening New York time, JPMorgan Chase (JPM: 36.54 0.00 0.00%) announced it will acquire rival Bear Stearns (BSC: 30.00 -27.00 -47.37%) in a deal that is worth $236.2 million, or $2 a share. This is an unbelievable turn of events for Bear Stearns, one of the world's largest investment firms. JPMorgan's acquisition of

View Story Discuss (0) (gracecheng.com) 125 days ago by GraceCheng1

Submitted and Voted for on March 17, 2008 02:55am

This story has mostly positive ratings. 19 votes / No sinks

Dollar Plunges After Fed's Surprise Rate Cut

Money – The US dollar is crashing, and this is no alarmist statement. The greenback fell sharply in the Asian trading session Monday against the Euro, Japanese yen and Swiss franc. In an extremely rare move, the Federal Reserve announced at the start of trading on the Tokyo Stock Exchange that they are slashing the discount rate

View Story Discuss (0) (gracecheng.com) 125 days ago by GraceCheng1

Submitted and Voted for on March 17, 2008 01:26am

This story has mostly positive ratings. 20 votes / No sinks

Shorting Frenzy in the Stock Markets

Money – US stocks gyrated through a rough rollercoaster ride this past week: they jumped super high and they fell super fast. After news of Bear Stearns (BSC: 30.85 -26.15 -45.88%) bailout, the Standard & Poor's 500 Index (^GSPC: 1288.14 -27.34 -2.08%) fell 2.1% yesterday to 1,288.14. The S&P Financials Index lost 4.1%, and Bear Stearns fell

View Story Discuss (0) (gracecheng.com) 126 days ago by GraceCheng1

Submitted and Voted for on March 15, 2008 02:23pm

This story has mostly positive ratings. 21 votes / No sinks

Steep Selloff of Bear Stearns Stocks

Money – This is the biggest news of the day: Bear Stearns, the second-largest underwriter of US mortgage bonds, is in big trouble and has approached the Fed. After denying for three days that access to capital was at risk, Bear Stearns said today that its cash position had "significantly deteriorated".

View Story Discuss (0) (gracecheng.com) 127 days ago by GraceCheng1

Submitted and Voted for on March 14, 2008 01:18pm

This story has mostly positive ratings. 23 votes / 1 sink

EU Leaders Mentioned Forex In Unprecedented Move

Money – Instead of just letting central bankers and finance ministers do the talking about the forex markets and currencies, European Union leaders on Friday have taken the liberty to voice their concerns to the media after a 2-day summit - a never-done-before move. Usually it is just the French President Nicolas Sarkozy voicing his concerns about

View Story Discuss (0) (gracecheng.com) 127 days ago by GraceCheng1

Submitted and Voted for on March 14, 2008 01:03pm

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