US Could Lose AAA Rating

Is US the next UK? Investors are concerned the US will follow the UK and lose its AAA rating, according to Bill Gross, Pimco, and that could be driving today’s drop.

U.S. Jobless Claims Drop 12,000

WASHINGTON (Reuters) – The number of U.S. workers filing new claims for jobless aid fell 12,000 last week, Labor Department data showed on Thursday, while so-called continued claims rose to a fresh record as the recession battered employment.

Obama’s National Security Speech

President Barack Obama delivers a speech on national security.

Markets Fall on FOMC Minutes

The Fed’s recession warning, paired with news of pending credit-card legislation took the wind out of bank stocks this afternoon, with several big banks closing lower. Analysts worry that the new provisions for creditors will please consumers but lower profits, Dave Kansas says. -marketwatch.com

“Some members noted that a further increase in the total amount of [...]

Cautious on Recent Rally

“The bulls managed in low volume, but nevertheless had a pretty good day: the breadth [of trading] was good, over a broad area.”
“Goldman [Sachs] recommending Bank of America seemed to help, as did the Indian election.”

Bank of America Common Share Offering @ $10

Bank of America has priced 825 million shares at $10 each, sources familiar with the offering told CNBC, sending shares of the financial institution lower after markets closed Tuesday. – cnbc.com

Geithner Economy Update

Treasury Secretary Timothy Geithner discusses the economy and his feelings about the progress of reform in the financial system.
Treasury Secretary Timothy Geithner discusses the economy and his feelings about the progress of reform in the financial system.

Analyst Sees Market Lower

US stock index futures pointed to a slightly higher open Monday. Manus Cranny from MF Global Spreads told CNBC that sustainability is the critical question now. He thinks the market will turn lower by the end of the week.