CIT Names John Thain CEO
Airtime: Mon. Feb. 8 2010 | 6:02 AM ET
Former Merrill Lynch CEO John Thain has been given the top job at CIT. Andrew Ross Sorkin, of the NY Times, and the CNBC news team discuss.
Airtime: Mon. Feb. 8 2010 | 6:02 AM ET
Former Merrill Lynch CEO John Thain has been given the top job at CIT. Andrew Ross Sorkin, of the NY Times, and the CNBC news team discuss.
Goldman Sachs CEO Lloyd Blankfein testifies regarding charges the firm used a strategy that allowed it to take the opposite side of investments it was selling to the firm’s clients.
2010 is set to be a promising year for the hedge fund industry, according to research from Moody’s. Uncertainty over regulation and the economy means the industry isn’t out of the woods yet, Odi Lahav from Moody’s told CNBC Tuesday.
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“Once the 50-day average is broken on a weekly basis, it a first sign of weakness and that the trend may be changing,” said Adam Sarhan at Sarhan Capital.
Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market action has been wide-and-loose which is not a healthy sign. The S&P 500 sliced below its two month upward trendline (shown above) which is not ideal. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. We have enjoyed large gains since the September 1st FTD and over the past two weeks, the tape remains somewhat sloppy. Trade accordingly.
Cloud computing drives massive growth for big U.S. tech firms SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O), Alphabet Corp’s (GOOGL.O) Google and Intel Corp (INTC.O) are all putting their chips on the cloud computing business, and it is booming. All four companies posted stellar quarterly earnings on Thursday, showing the strength of…