Forget 1987: This is the market's relevant precedent
This year has more closely resembled 2011 – a mostly sideways crawl as stocks digested prior years’ gains, until global credit and growth anxiety smothered fragile risk appetites that summer.
MONEY (MSM)
Whoa! Homebuilders feeling happiest in 10 years
Sentiment jumped 3 points in October to a level of 64 on the National Association of Home Builders/Wells Fargo Housing Market Index.
Google to give away software to Microsoft Office defectors
Google is escalating an attack on Microsoft’s lucrative Office software in an attempt to hit its longtime rival where it will hurt the most. The assault is targeting companies and government agencies paying …
Oil's fundamentals are changing: Goldman
The battered and bruised oil industry could see some upside in the medium term, according to Michele Della Vigna at Goldman Sachs.
Wal-Mart puts the squeeze on suppliers to share its pain as earnings sag
The discount store behemoth has always had a reputation for demanding lower prices from vendors but Reuters has learned from interviews with suppliers and consultants, as well as reviewing some contracts, that even by its standards Wal-Mart has been turning up the heat on them this year.
Morgan Stanley's weak results send its shares plunging
Morgan Stanley’s profit slumped for the second straight quarter, as uncertainty about the timing of a U.S. interest rate hike and worries about China’s cooling economy sent shudders through global markets. Chief Financial Officer Jonathan Pruzan offered a subdued outlook for the current quarter, although he said there had been a modest rebound in global markets. Financial markets have been on tenterhooks for months, trying to gauge when the U.S.
Oprah paying $43.2M for Weight Watchers stake, joining board
Oprah Winfrey is paying about $43.2 million for a 10 percent stake in Weight Watchers and is joining the weight management company’s board. Shares of Weight Watchers nearly doubled after the deal was announced. …
China's economic growth declines to 6-year low
China’s economy decelerated in the latest quarter but stronger spending by consumers who are emerging as an important pillar of growth helped to avert a deeper downturn. The world’s second-largest economy …
Chinese cyberattacks on US companies continue, report says
Chinese hacking attempts on American corporate intellectual property have occurred with regularity over the past three weeks, suggesting that China almost immediately began violating its newly minted cyberagreement …
Mark Cuban unleashes on high-frequency trading
Billionaire Mark Cuban criticized the stock market’s safety Friday, bashing perceived apathy toward high-frequency trading.