Wall Street

3:12pm

Tue June 5, 2012
London 2012: The Summer Olympics

Cyclist's Swift Ride From Wall Street To The Olympics

Originally published on Tue June 5, 2012 5:53 pm

Since entering the sport at age 25, Evelyn Stevens (right) has risen to the elite ranks of women's cycling. In April, she passed top rival Marianne Vos of Holland on her way to winning the Fleche Wallonne race in Belgium.
Michael Steele Getty Images

Four years ago, Evelyn Stevens was working as a Wall Street investment banker and just starting to race bicycles. But she rose through the cycling ranks quickly, and next month she will represent the United States at the Olympic Games in London.

On a recent muggy morning in busy Central Park, Stevens easily weaves her bicycle through many obstacles.

"There's the horse carriages, there's the bike buggies, there's the Rollerbladers," she says, "the people on their bikes training, the five gajillion joggers, the hot dog stands, the dogs — there's a lot going in."

Read more

2:52pm

Tue May 29, 2012
The Two-Way

Facebook Stock Falls Another 9 Percent

Facebook's stock fell $3.07 to end the day at $28.84. That's first time it's fallen below $30 since the stock went public.

That price is also 24 percent below its opening price of $38.

The Wall Street Journal that the drop had to do with negative sentiment about the stock, as well as the fact that today traders were able to trade on derivatives.

The Facebook stock saw so much trading, the Journal reports, that it triggered Nasdaq's short sale circuit-breaker.

Read more

8:34am

Wed May 23, 2012
The Two-Way

Wall Street Titans, Behaving Badly

Originally published on Wed May 23, 2012 9:30 am

Television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square on Monday.
Richard Drew AP

1:08pm

Fri May 18, 2012
The Two-Way

What Facebook May Mean For Your Portfolio, Even If You Didn't Buy It

Originally published on Fri May 18, 2012 4:25 pm

Facebook shares began trading on Nasdaq shortly after 11:30 a.m. on Friday.
Richard Drew AP

Don't worry if you missed out on Facebook's initial public offering. Chances are, if you own shares in a broad-based index fund, you'll be holding onto some Facebook soon enough.

Facebook is such a huge offering -– with an initial market capitalization of more than $100 billion, it instantly becomes one of the 25 largest "cap" stocks — that it could have a distorting effect on some funds, at least in the short term.

Read more

8:50am

Fri May 18, 2012
Business

JPMorgan's Troubles And The Price Of Eggs

Originally published on Fri May 18, 2012 2:20 pm

Do complex Wall Street transactions ever do anything to help average people? To answer that question, we consider the case of an imaginary company, Chickens LLC, that's looking to grow.
Joern Pollex Getty Images

Journalists have spent many days and millions of words hashing over the news that banking giant JPMorgan Chase lost billions of dollars trading "synthetic" derivatives.

I am one of those journalists who, more or less, can understand what the bank says it was trying to do, i.e., hedge against loan losses. But here's what I have a hard time explaining:

What does this kind of complex trading have to do with the price of eggs?

Read more

Pages