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Updated:  New York, Jul 04 01:01
London, Jul 04 06:01
Tokyo, Jul 04 14:01
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Biggest Quarterly Rally in `Value' Stocks Sends Bearish Signal to PNC, Axa The biggest quarterly rally in value stocks is a bearish sign to some of the largest money managers, who say it shows the equity market has relied on companies with the worst finances to fuel its rebound.

Mortgage 30-Year Rate Drops to 5.32%, Easing Concern Fed Program Stalling Mortgage rates in the U.S. fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum.

Manhattan Apartment Prices Slide 42% as Lehman, Bear Stearns Woes Hit Home Manhattan apartment prices dropped for the first time since 2002 in the second quarter as the collapse of Lehman Brothers Holdings Inc. and Bear Stearns Cos. caught up to property owners in the nation’s most expensive urban market.

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Columns


MICHAEL R. SESIT
There are those moments in the lives of political leaders and the destiny of nations when a bold move defines their place in history.
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JOHN F. WASIK
After an era of consumer financial abuses, how would you oversee the most damaging industries?
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Jane Bryant Quinn

Time for some California dreaming: Will the state plug its budget gap, and are its bonds worth a gamble?

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John Dorfman

Every investor is pondering the same question: Has the stock market’s spring rally fizzled?

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