Stock Market Turns Lower
Stock selling accelerated Monday afternoon, as a mostly positive start to the holiday sales period was overshadowed by further worries about the impact of the credit and mortgage market fallout on the economy.

Metals Rise as Investors await U.S. data; Oil Price Ease
More bullish buying propped up precious and base metals prices Monday as U.S. markets returned from the long Thanksgiving weekend, while energy and agricultural markets turned soft on profit-taking.

Treasury Rates Sinked to 3 1/2 As Credit Concerns Rise
U.S. Treasuries surged on Monday, with benchmark yields reaching a more than 3 1/2-year low as increasing credit market strains caused investors to seek the relative safety of government bonds.


Citigroup shares below $30
Citigroup Inc (C.N: Quote, Profile, Research) shares fell below $30 for the first time in more than five years on Monday, amid mounting concern about mortgage losses and possible further job cuts at the largest U.S. bank by assets.

Citigroup planning major job cuts
Citigroup, the No. 1 U.S. bank by assets, is planning major job cuts over the coming months, CNBC television reported on Monday.

For Abu Dhabi and Citi, Credit Crisis Drove Deal
A falling dollar, a growing pile of oil revenue and an interest in not being overshadowed by neighboring Dubai’s increasingly high profile spurred Abu Dhabi to break with its low-key investing tradition to purchase a big $7.5 billion stake in Citigroup.

E*Trade shares fall on credit woes
E*Trade Financial Corp (ETFC.O: Quote, Profile, Research) shares fell sharply on Monday as investors became skeptical the online brokerage can escape its credit woes with a merger, or by selling part of its business.

HSBC backs SIVs with $35 billions
HSBC Holdings Plc, Europe's biggest bank, has stepped in to support its two structured investment vehicles -- Cullinan and Asscher -- with funding of up to $35 billion to prevent forced sales of assets.

Fed set to provide extra liquidity into 2008
The Federal Reserve said on Monday it will conduct a series of term repurchase agreements extending into the new year in response to heightened pressures in money markets.
The Fed said the first operation for about $8 billion is set for November 28, to mature January 10, 2008.

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Labels: Takeaways for Today

This entry was posted by David Choi, on Monday, November 26, 2007. You can leave your response.