BOSTON (TheStreet) -- A rumor- and risk-filled quarter comes to a close with headlines that Europe is finally getting its rickety house in order, which leads your quick fix of company, market, economic and investing news for Friday, Sept. 30, the last day of the third quarter.
The Big Story
This quarter that can be summed up best as "rumor on/rumor off." It's fitting, then, that we end September with a headline that
Europe has stepped back from the brink in the debt crisis
. I'm sure the headlines will have Europe back at the brink on Monday.
How bad was it for equities this quarter? Only a third of the stocks in the
Dow Jones Industrial Average
remain in positive territory for 2011.
A look at the current
state of the market
Futures are indicating a lower open for equities, which isn't surprising. The
stock market falls
more often than it rises on the last day of the quarter.
Quote of the Day
"The U.S. does not have a tax-rate problem -- we have a spending and entitlement problem. And if we do not address it quickly, we are going to be Greece," said
Jay Wright, managing director of Samco Capital Markets
, responding to a
poll that found 63% of investors approve the so-called "Buffett Tax."
Europe, pay attention:
Bank of America
were allowed to leave TARP too early.
Speaking of Bank of America, perhaps the bank should remember that
lost 70% in market cap within two months of announcing a $5 price hike with no change in service.
In other bank news, we should probably start worrying about
right about ... now.
market value surpassed
for the first time since 1996. Not a big deal, until you remember Microsoft was worth three times as much as IBM in January 2000.
S&P Dow Jones Industrial 500 Average
doesn't really roll off the tongue. Get used to the idea, though:
are negotiating a joint venture to combine indexing units.
bearish sign for equities
, the junk bond ETF broke support with a sharp decline and remains weak.
Something to keep in mind with bank earnings around the corner:
investment banking fees
at two-year lows.
Roddy Boyd takes on
Chinese reverse merger
engineer Benjamin Wey.
Remarks from bond king
on everything from entitlements to the euro crisis to gold to stock indicators.
Hedge funds will likely be cushioned from
because investors don't need the cash.
Financial News, via WSJ
Thinking about stepping into Netflix now after the recent plunge? Some say
Netflix is still a screaming short
Odds and Ends
We apparently needed a
study of Twitter
to tell us that work stinks and we like to go out drinking with friends. Who knew?
Self-promotion alert: if you need help this week picking NFL games, I offer you my
NFL picks against the spread
for Week 4.
It's Friday. Get excited for the weekend. To celebrate, here's a song that namedrops
in the chorus.
-- Written by Robert Holmes in Boston
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