The Wall Street Journal reported today that 98 of the U.S. banks that had received bailout funds are heading toward failure. This is an increase of about 12 banks from the second quarter figures. You can read the full article here.
Economist David Rosenberg told CNBC today that he expected another price decline in the housing sector during 2011. As evidence, he mentions that the “gargantuan” housing inventory. You can see the full video interview here.
The stocks of many retailers like JC Penney Co (NYSE: JCP) and Kohls Corp (NYSE: KSS) were down today after a blizzard took many would-be shoppers out of the running along the East Coast. The Dow Jones Industrial Average was down 18.46 points to 11,555.03. The Nasdaq was up 1.67 points to 2,667.27 and the S&P 500 rose .77 to 1,257.54.
European and Asian markets were mixed on Monday with Germany’s DAX dropping 1.23 percent and China’s Shanghai Composite falling 1.90 percent after The People’s Bank of China raised its benchmark interest rate for the second time this year in an effort to stave off inflation.
Stocks in the news: Netflix Inc (NASDAQ: NFLX), Nestle SA (OTC: NSRGY), Cal Maine Foods Inc (NASDAQ: CALM).
