Archive for May 8th, 2008

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Stocks inched higher early Thursday, bouncing after the previous session's big selloff, as investors welcomed some positive retail sales from Wal-Mart Stores and other chains and a bigger-than-expected drop in weekly jobless claims.

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With $120 oil not seeming to follow the fundamental law of supply and demand many are wondering if the market is broken.

American International Group Inc., the nation's largest insurer, reported losses of nearly $7.81 billion for its fiscal first quarter and said it would seek to raise $12.5 billion in capital to shore up its balance sheet.

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The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.

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American International Group Inc., the nation's largest insurer, reported a net loss of nearly $7.81 billion for the first quarter and said it would seek to raise $12.5 billion in capital to shore up its balance sheet.