Investment Information

Alcoa Announces 50% Drop in Quarterly Profits

Industry bellwether misses analyst estimates and ushers in stormy earnings season.

Fed Reports Increase in Consumer Credit

February's $5.1 billion increase is lower than estimated, but dwarfed by January's $17 billion revision.

Visa IPO Sets Record

Transaction processor trades up 30% on its first day of public trading; $17.86 billion raised for cash-strapped banks.

Fed Drops Funds Rate by 0.75%

Fed Funds Rate lowers to 2.25%; Discount rate lowered to 2.5% in wake of policy change.

Bear Stearns Falls to JP Morgan After 83 Years

The Wall Street titan weathered the Great Depression, but could not withstand the "sub-prime" crisis.

JP Morgan to Buy Bear Stearns for $2/Share

Deal is said to avoid a "fire sale" of assets; $236m sale price represents less than 7% of market cap.

Fed Auctions $50b; Banks Wanted $92b

Bid to cover ratio 1.85: $50 billion is not enough to clean up after lost investments.

Bear Stearns Receives Emergency Funding; off 40%

JP Morgan Chase and the Federal Reserve came to the rescue for the cash-strapped brokerage.

Fed: Consumer Debt Up 3.3% in January

The Federal Reserve released data today that consumer debt increased 3.3% annualized, or $8.9 billion, in January.

Indices Close Below 2007 Lows

All major U.S. stock indices closed at their lowest levels since the second half of 2006.