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The price of gold hit a new record high Monday, as investors around the world again scrambled for cover amid renewed recession fears and Citigroup's (NYSE: C) raised near-term price outlook on the metal. Spot gold prices broke above the $1,881 mark in early trade today. The commodity has been a...

Bank of America (NYSE: BAC) is cutting 3,500 jobs by September, and could potentially cut thousands more. What is it called when banks go bankrupt? Oh ya. That's right. It's called Bank of America. Hewlett-Packard's (NYSE: HPQ) planned exit of the personal-computer business may provide a boost...

Here's what Benzinga's reading on our friend, TheStreet.com. What's Hot On TheStreet Despite Chaos, 401(k) Participants Don't Panic That's the advice Michael Falcon, head of retirement for the U.S. and Canada at J.P. Morgan (NYSE: JPM) Asset Management, has for 401(k) plan participants amid the...

Bank of America Corp. (NYSE: BAC) is going to cut 3,500 jobs by the end of next month. Despite the cuts, that is virtually nothing, a little more than 1% of the company's roughly 288,000 employees. The Charlotte-based bank announced it would be cutting 2,500 jobs earlier in the year. "The...

This morning the featured headline on the Drudge Report was "Thousands Line Up For Jobs" linking to an article from ABC News about a job fair in Atlanta, Georgia. Amidst the crowds of anxious jobseekers, people were getting heat exhaustion as they were waiting to get into the two-day fair. The...

If we have learned one thing since the 2007 top it is that the financial stocks are the most important sector that a trader or investor can follow. When the financial stocks decline it is prudent to expect the major stock indexes to follow right behind them. In 2008, the financial crisis was all...

Pre-open movers US stock futures are lower this morning, after the global equity markets plunged over growth fears. Futures for the Dow Jones Industrial Average dipped 191 points to 10,826.00 and S&P 500 index futures fell 22.50 points to 1,121.00. Nasdaq 100 futures dropped 42.25 points to 2,...

Bank of America (NYSE: BAC) is considering a cut to its workforce of 3,500 jobs, with the possibility of more, according to a report Friday from the Wall Street Journal. The restructuring would remove numerous positions across the bank, in an initiative call "Project New BAC." According to The...

Bank of America (NYSE: BAC) plans on cutting 3,500 jobs during the current quarter and thousands more over the coming months, according to sources. The 3,500 positions to be eliminated include investment banking and trading, and the cuts are expected to be completed by late September. Some...

Anyone that has traded the stock markets in 2007, 2008, and 2009 knows that these massive declines used to occur on a daily basis. At that time, the problems for the major stock indexes was the failing banks. If you fast forward into 2011, the problem is once again the failing banks. This time it...

Is Bank of America (NYSE: BAC) ready to lose 50% of its value? One options trader believes so… A short while ago the November $4.00 put was purchased 15,000 times, on the offer, for a net debit of $0.39. Total volume on the strike now totals 53,000 contracts; open interest is only 10,534 contracts...

It sure feels like this is 2008, the re-mix edition, despite what Wall Street prognosticators may say. If you buy a bank stock, you do so at your own risk. These stocks are all falling knives and have been losing ground for much of the year - now they are plunging. Do not make the same mistake...

Millions of investors, traders and money managers are pinning their hopes on one phrase. Trillions upon trillions of dollars are at stake here. Sorry to disappoint. There will be no QE3. Not on August 26th, anyway. This morning we got July Consumer Price Index (CPI), and it was extremely hot...

The large financial Stocks have lead the markets lower throughout 2011. This morning, bank stocks around the world are declining sharply lower. The leading bank stock in the United States is J.P. Morgan Chase & Co.(NYSE: JPM). This market leading financial stock is declining lower by $1.92 to $...

Today, Citi (NYSE: C) announced a multi-year renewal of its long-standing U.S. credit card relationship with Shell (NYSE: RDS.A). Citi has issued Shell branded credit cards since 1999. Shell has more than 14,000 Shell-branded stations in the U.S., the largest branded station network in the...