The bad news for the US dollar just keeps on coming. The American greenback set yet another record low today as the euro moved up to a high of $1.4966 earlier in the day, breaking yesterday's record of $1.4873. The dollar also fell to a new two and a half year low against the yen in Asian trading, as the yen fell to under 108. Traders are continuing to worry about the ...

In the premarket futures are trading well down and below fair values following an earnings warning from the banking giant Wachovia Corp. (NYSE: WB). The company announced in a filing to the SEC today that it is expecting to see fourth quarter losses from loans between $500 and $600 million. During the month of October the company states that it had $1.1 billion of further losses related to the credit turmoil ...

Federal Reserve chairman Ben Bernanke has decided to state the obvious today... the U.S. economy is going through a tough time. Is this the same Bernanke that has been saying all year that the subprime mortgage crisis has been contained? Well, thanks for confirming what most of us already knew... record high oil prices and the severe housing slump are going to weigh on the American economy, and that an economic ...

Shares of financial giant Merrill Lynch (NYSE: MER) have been taking a beating in today's market, extending its two week losing streak. A research note out of Deutsche Bank AG stated today Merrill may be about to writedown as much as $10 billion in relation to its subprime losses. Rumors have been swirling all around Merrill lately, and now it appears as though the SEC is going to be investigating ...

Wall Street has been trading lower today, mostly in reaction to poor earnings out of Banc of America (NYSE: BAC). The financial giant had been expected to post earnings for its third quarter of $1.06, but were shocked when the company posted actual earnings of only 82 cents a share. The company attributed its 32 percent drop in third quarter profit to trading losses and write-downs on a wide variety of ...