Markets Flat at Opening
Stocks were flat or down this morning after yesterday's big surge.
On the other hand, the news from ailing lender CIT tempered any enthusiasm. The company said, "there is no appreciable likelihood," it will receive government support in the near future. Its troubles are viewed by some as a significant test of the economy.
J.P. Morgan Chase beat expectations by reporting a 36% rise in second-quarter net profit on strong investment-banking results. Those results followed news from Goldman Sachs Group that profits soared on record results in trading and stock underwriting.
July 16, 2009; 10:37 AM ET
Categories: The Ticker
Save & Share: Previous: Congress Names Panel to Probe Origins of Finanical Crisis
Next: House Lawmakers Grill Paulson on BofA Deal
Posted by: Dermitt | July 16, 2009 11:14 AM | Report abuse
The comments to this entry are closed.