Joe Weisenthal

  • Opening Bell

    Opening Bell: 10.02.08

    House girds for second try on financial rescue (AP) So now it goes down to the House of Commons, where all the principled right-wingers who voted against the first package, can now explain their desire to see a way more bloated, ridiculous bill pass. Yeah, that should be real fun. No doubt the Republican leadership […]

    / Oct 2, 2008 at 6:58 AM
  • Opening Bell

    Opening Bell: 10.1.08

    Most Asian markets recover on hopes for US bailout (AP) Really, do we even need a bailout anymore? We had an awesome day yesterday, the Asian markets did great last night, consumer sentiment is back on track, the rate of home price declines is slowing, and Christmas shopping is right around the corner. It’s starting […]

    / Oct 1, 2008 at 7:17 AM
  • Opening Bell

    Opening Bell: 9.30.08

    Futures indicating rebound after historic sell-off (RTT News) Oh, see. We’re still here. The world hasn’t gone anywhere. In fact the stock market is looking up this morning. A few hundred points. Sure it’s just a sliver of what we lost yesterday. But did any banks fail last night? (Don’t answer). Seriously though, Wall Street […]

    / Sep 30, 2008 at 7:32 AM
  • Opening Bell

    Opening Bell: 9.29.08

    World markets fall as US bailout seen taking time (AP) Look, we’re going to pass it, alright. Just hold your horses, and stop it with these nightly selloffs. We’re spending like $1 trillion of our own money here. And it’s pretty much a done deal. And after that the markets will be stablized. Pressuring us […]

    / Sep 29, 2008 at 7:25 AM
  • Opening Bell

    Opening Bell: 9.26.08

    Wild day, no deal (Politico) We’re still really confused by what’s going on. They keep saying the deal is dead (fair enough), but it’s the Republican reps who are recalcitrant, but the Democrats have enough votes to pass it on their own, right? So why don’t the Dems — if they believe in it — […]

    / Sep 26, 2008 at 6:56 AM
  • Opening Bell

    Opening Bell: 9.25.08

    General Electric revises 3Q, full-year outlook (AP) It’s a good thing they’re on the no short list, cause GE has just lowered its quarterly and full year outlook. The predictable reason: gyrations in the financial market. The good news though, GE says it’s committed to maintaining its AAA credit rating — so presumably it won’t […]

    / Sep 25, 2008 at 7:32 AM
  • News

    Opening Bell: 9.24.08

    Asian Markets Are Jittery as US Bailout Doubts Persist (CNBC) By jittery, the article must mean “not every single stock on the market soared”, cause for the most part, it seems the Warren Buffett injection actually brought some cheer to the other side of the earth. Financial shares were up, and generally the indexes ended […]

    / Sep 24, 2008 at 6:43 AM
  • Opening Bell

    Opening Bell: 9.23.08

    Weakest holiday sales since ’02 seen (CNNMOney) Well this is really predictable… The National Retail Federaton predicts weak holiday growth this year, just 2.2 percent. Hey at least it’s up. But apparently it usually grows by about 4.4 percent per year. Growth of 2.2 percent would represent the most anemic growth since 2002. And realistically, […]

    / Sep 23, 2008 at 6:41 AM
  • Opening Bell

    Opening Bell: 9.22.08

    Democrats Set Bailout Conditions as Treasury Chief Rallies Support (NYT) There’s like $1.5 trillion on the line with this new bailout plan — really, the mother of all spending schemes. This is lobbyist and special interest heaven, and you’d be negligent to not get try getting something of that for your pet cause. But it’s […]

    / Sep 22, 2008 at 6:48 AM
  • Opening Bell

    Opening Bell: 9.19.08

    Stocks Soar Worldwide on Bank Bailout, Curb on Short Sales (Bloomberg) The great thing about the government is that as long as they can maintain law and order, they’ve never really fired the last barrel of the gun. Stocks rallied overseas on all the news: A stepped up attempt to clean up the mess and […]

    / Sep 19, 2008 at 6:52 AM
  • Opening Bell

    Opening Bell: 9.18.08

    Central Banks Take Coordinated Action (WSJ) We understand how things work on this world — when there’s a big problem, the government solution is usually to flood more money into the system, overnight and fast. That’s not going away. In fact it seems to be accelerating, as the governments are holding each other hand in […]

    / Sep 18, 2008 at 6:47 AM
  • Opening Bell

    Opening Bell: 9.17.08

    Stock futures slip after U.S. government’s AIG move (Marketwatch) And this is the thanks the government gets. You hammer out a last minute deal to save the entire financial system, prevent it from melting down and guaranteeing our return to gold-based money and investors don’t even appreciate it. Instead they sell off a little more. […]

    / Sep 17, 2008 at 7:10 AM
  • Opening Bell

    Opening Bell: 9.16.08

    Futures Turn Positive, AIG Indicated Higher (CNBC) We’re back! Well, who knows. At least at this very moment. Or, like 15 minutes ago or something, things were ticking up a bit from yesterday. Even AIG is up, after the downgrades came in. Maybe some case of sell the rumor, buy the news or somesuchnonsense. Of […]

    / Sep 16, 2008 at 6:37 AM
  • Opening Bell

    Opening Bell: 9.15.08

    ECB, BOE to Pump Extra Cash Into Strained Money Markets (WSJ) You know, just in case, seems like as good a day as any to drop several billion into the overnight markets. Just so thinks don’t totally seize up or anything. The Bank of England is putting up an extra $9.87 billion. As we mentioned […]

    / Sep 15, 2008 at 6:32 AM
  • Opening Bell

    Opening Bell: 8.28.08

    Sears Holdings Reports Second Quarter Results It’s always fun to check in on our favorite hedge fund/retailer that posts weak earnings every three months… Not surprisingly, earnings were down pretty sharp, over 50 percent, due to the economy and just general stuff. The good news: Sears is making progress on getting its inventory down, and […]

    / Aug 28, 2008 at 7:35 AM
  • Opening Bell

    Opening Bell: 8.27.08

    Heineken first-half profit climbs 35% (MarketWatch) Breathe… Heineken turned in a solid quarter. People are still drinking alocohol. The world’s third biggest brewer said revenue was up 17 percent, though only 7 percent on a comparable basis. Two good trends for the company: Consumers are going for higher end brews (presumably because everyone is in […]

    / Aug 27, 2008 at 7:06 AM
  • News

    Opening Bell: 8.26.08

    US stock futures edge higher after volatile sessions (MarketWatch) Who knows if this will hold by the time you read it, but evidently stock futures are pointing uppish. Allow us to put on our Larry Kudlow hats for a sec and explain why: Michelle Obama didn’t close the deal with America. The upshot: The market […]

    / Aug 26, 2008 at 7:24 AM
  • Opening Bell

    Opening Bell: 8.25.08

    Dollar Rises on Speculation Oil Decline to Bolster U.S. Economy (Bloomberg) A couple things: One) It’s interesting that the dollar is rising on speculation. Surely we can’t have something as important as our currency be bouncing around on the whims and interests of speculators. What’s more, we just read the other day that oil fell […]

    / Aug 25, 2008 at 7:34 AM
  • Opening Bell

    Opening Bell: 8.22.08

    GM to Open Formal Talks Tor Hummer Sale (WSJ) That Hummer has been on the block is well known… but now things are getting serious. GM is drawing up the books, so it can talk to various parties that have reached out. While we can understand the cash-strapped company’s desire to sell so out of […]

    / Aug 22, 2008 at 6:56 AM
  • Opening Bell

    Opening Bell: 8.21.08

    Temasek May Lift Stake in Merrill, Betting on Rebound (Bloomberg) Temasek, the big Singapore fund, may lift its stake in Merrill Lynch. It’s already the firm’s biggest shareholder, but chairman S. Dhanabalan said that if there’s an opportunity, the firm would like to take a look at it. Temasek might just be looking to average […]

    / Aug 21, 2008 at 7:15 AM
  • Opening Bell

    Opening Bell: 8.20.08

    Heelys(R) Responds to Skechers USA Inc.’s Proposed Acquisition So you’ve been following this one really closely, right? Heelys, the maker of shoes with wheels, has come under a takeover attack from Skechers, which is probably like the most fitting acquire we could think of. Both brands have the same thing at play: Total lameness with […]

    / Aug 20, 2008 at 7:05 AM
  • Opening Bell

    Opening Bell: 8.19.08

    Russian Troops Seize Georgian Port (WSJ) Well sure, Russia is on its way out of Georgia. But you know how you sometimes grab a piece of mind from the candy bowl next to the door at the Chinese Restaurant? Yeah, it’s like that. Except its a port not a mint. And apparently it’s an “economically […]

    / Aug 19, 2008 at 7:15 AM
  • News

    Opening Bell: 8.18.08

    Musharraf Is Resigning (WSJ) This has been expected. Pakistani President Peverz Musharraf is resigning. The resignation comes as impeachment charges were set to begin, but, alas, Musharraf wanted to do what was right for the country, even though he felt he would’ve beaten the charges (no idea on that). More from NDTV and the Economic […]

    / Aug 18, 2008 at 7:12 AM
  • FOREX, Opening Bell

    Opening Bell: 8.15.08

    Sterling loses more ground against the dollar (AP) The dollar is un-stop-a-bull! Another day, another gain against a major world currency. Not that this is only a good thing. Like, wasn’t the cheap dollar going to help make the US a low-cost manufacturing nation again? Oh, and doesn’t it inflate the earnings of basically every […]

    / Aug 15, 2008 at 7:58 AM
  • Opening Bell

    London’s Burning

    Remember when London was the the new New York, and the City the New Wall Street. Well you don’t hear that much anymore. “Now, however, the British capital is mired in as great a crisis as New York’s–and things are about to get worse, making a mockery of the insecurity complex regarding Britain that hit […]

    / Aug 14, 2008 at 1:09 PM
  • Opening Bell

    Opening Bell: 8.14.08

    Wal-Mart profit climbs 17%, ups 2008 goal (MarketWatch) A solid earnings report is always a solid earnings report, but you know, it’s Wal-Mart, so it could mean all kinds of things. Maybe the low end consumer isn’t doing that bad. Or maybe there are a lot more low end consumers than there used to be. […]

    / Aug 14, 2008 at 7:18 AM
  • Opening Bell

    Opening Bell: 8.13.08

    Uno Restaurant Faces `Default’ Rating on Missed Bond Payment (Bloomberg) We’re not big fans of Chicago pizza, and we’re definitely not big fans of chain restaurants that turn Chicago pizza into an abomination. So we can’t say we’re really sad to see that Pizzeria Uno seems to be falling on hard times. The company faces […]

    / Aug 13, 2008 at 7:22 AM
  • Opening Bell

    Opening Bell: 8.12.08

    Russia Halts Attack on Georgia (WSJ) Objectives of the military operation have been achieved, said Dmitry Medvedev on state TV. He added that they could start fighting again, if the Russians get any resistance or pushback and he didn’t say anything about withdrawing troops. Probably too early to call this “peace”. Oil Goes to the […]

    / Aug 12, 2008 at 7:08 AM

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