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 ...

Oil prices have moved $1.85 higher today and are currently sitting at $95.34. Today's move is coming mainly as a result of this morning's October payroll report that showed a much greater than expected jump in payrolls. This has put to rest some recession fears, and combined with a falling dollar, Hurricane Noel, and concerns in the Middle East have all put oil back on its track up towards $100 ...