Today's Key Market News - Employment Warning Signs
Stock futures are indicating a lower open this morning. Bear Stearns halted redemptions on a third hedge fund. We suspect the bleeding is not likely to end soon for Bear as a result of its recent funds' failures (NYSE: BSC). Deutsche Bank (NYSE: DB), on the other hand, put together a strong quarter. Recall, we recently discussed some of DB's successful trading hedges and foreshadowed this news. In an ironic twist, Moody's (NYSE: MCO) put together a stellar quarter despite the subprime market woes. Moody's does not face direct risk related to credit quality. In fact, as credit quality becomes a more complicated measure to analyze, Moody's work gains demand, in our view.
The employment situation received conflicting news this morning, as the Challenger report on planned job cuts came in light. At the same time, the ADP Employment Report provided insight into a potentially weak Friday Employment Situation Report. We spoke about this in detail, and apparently presciently, again in our weekly article, "The Greek's Week Ahead - Panic Room." Please find today's key market news below, and you can find it fresh daily in our sidebar section, "Key Headlines."
CNBC: Bear Stearns Halts Redemptions at 3rd Hedge Fund
Bloomberg: ADP Employment Report Soft
CNN Money: Mortgage Applications at 5-Month Low
CNN Money: Challenger Report Shows Planned Layoffs Down
CNBC: Oil Slips on Inventory Apprehension
Forbes: Murdoch Wins!
Yahoo! Earnings Calendar
Financial Times: Deutsche Bank Does Well
AP/Yahoo!: Buffalo Wild Wings Sales Miss
MarketWatch: Qwest Profit Grows
AP/Yahoo!: Mastercard Profits
AP/Yahoo!: Martha Stewart Loss Widens
AP/Yahoo!: Moody's Stellar Quarter
AP/Yahoo!: Amgen Hits Skids
BBC: Gazprom to Cut Off Belarus Again
BBC: Saudis Back U.S. Plan
Iran Daily: Tales from the Dark Side
Thank you for your support of our advertisers. Receive Wall Street Greek via email by subscribing here. (disclosure)
The employment situation received conflicting news this morning, as the Challenger report on planned job cuts came in light. At the same time, the ADP Employment Report provided insight into a potentially weak Friday Employment Situation Report. We spoke about this in detail, and apparently presciently, again in our weekly article, "The Greek's Week Ahead - Panic Room." Please find today's key market news below, and you can find it fresh daily in our sidebar section, "Key Headlines."
CNBC: Bear Stearns Halts Redemptions at 3rd Hedge Fund
Bloomberg: ADP Employment Report Soft
CNN Money: Mortgage Applications at 5-Month Low
CNN Money: Challenger Report Shows Planned Layoffs Down
CNBC: Oil Slips on Inventory Apprehension
Forbes: Murdoch Wins!
Yahoo! Earnings Calendar
Financial Times: Deutsche Bank Does Well
AP/Yahoo!: Buffalo Wild Wings Sales Miss
MarketWatch: Qwest Profit Grows
AP/Yahoo!: Mastercard Profits
AP/Yahoo!: Martha Stewart Loss Widens
AP/Yahoo!: Moody's Stellar Quarter
AP/Yahoo!: Amgen Hits Skids
BBC: Gazprom to Cut Off Belarus Again
BBC: Saudis Back U.S. Plan
Iran Daily: Tales from the Dark Side
Thank you for your support of our advertisers. Receive Wall Street Greek via email by subscribing here. (disclosure)
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