stock market

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Speculation on New Fed Rate Cut Tempers Losses
Speculation on New Fed
Rate Cut Tempers Losses
MARKETS
Sep 16, 2008 10:44 AM CDT

Speculation on New Fed Rate Cut Tempers Losses

Stocks dip early, then tick closer to even ahead of mid-afternoon announcement

(Newser) - Stocks swung upward after big opening losses today, the Wall Street Journal reports, helped by speculation that the Federal Reserve might step in to help AIG and cut interest rates. The Dow, down 155 early, was just barely negative before noon, with a similar pattern from other indices. “We're...

Stocks Down Again at Open
 Stocks Down Again at Open 
MARKETS
Sep 16, 2008 9:15 AM CDT

Stocks Down Again at Open

AIG, Goldman pace decline

(Newser) - Stocks declined at the opening bell today, sending the S&P 500 into its worst two-day slump since 2002, Bloomberg reports. Investors reacted to an overnight credit downgrade for liquidity-challenged AIG and a weak Goldman Sachs earnings report. Overnight lending rates took a record jump last night, as markets fell...

Lehman Crash Triggers Global Market Tumble

US futures and dollar sink: 'It's mayhem'

(Newser) - Lehman Brothers’ bankruptcy, along with news that mammoth insurer AIG is seeking a $40 billion Federal Reserve loan, has sent European and Asian markets, US futures and the dollar sharply downward, Bloomberg reports. Swiss-based UBS AG, Europe’s bank most hurt by the subprime crisis, plunged 7.2%. Australia’s...

SEC Looking Into United Airlines Stock Glitch

Stock slid hard on bad, old info picked up by automated Google news service

(Newser) - The Securities and Exchange Commission is looking into the recent, but temporary, nosedive in United Airlines stock spurred by the republication of a 6-year-old article about the company’s bankruptcy, the Wall Street Journal reports. The agency has begun a preliminary investigation to see whether any shady behavior was involved,...

Lehman Bros. to Report 3Q Stats Today in Bid to Calm Market

Battered firm to unveil 'strategic initiatives'

(Newser) - Lehman Brothers plans to release its third-quarter results and "key strategic initiatives" this morning—a week earlier than expected—in a bid to calm investors, Marketwatch reports. The securities firm took its biggest Wall Street walloping in history yesterday, with share prices plunging 45% to finish 85% down from...

Computer Crash Paralyzes London Trading

Dealers miss out on millions in stock market surge

(Newser) - A catastrophic computer crash shut out dismayed London traders from the market yesterday as stocks soared around the world in the wake of the US bailout of Freddie Mac and Fannie Mae, the Times of London reports. The seven-hour systems failure at the London Stock Exchange is estimated to have...

United Shares Dive 99.92% on False Bankruptcy Report

6-year-old story posted on newspaper site picked up across financial world

(Newser) - Trading in United Airlines shares was halted today on the New York Stock Exchange after a false bankruptcy report made them nearly worthless, the New York Times reports. At one point, the airlines’ shares fell 99.92%, to a single cent, after a reporter incorrectly republished a 6-year-old story about...

US Stocks Soar on Fannie/Freddie Takeover
US Stocks Soar on Fannie/Freddie Takeover
MARKETS
Sep 8, 2008 9:40 AM CDT

US Stocks Soar on Fannie/Freddie Takeover

Dow up 300 early as investors bet on broader recovery

(Newser) - Stocks surged this morning as investors rushed to lay bets on a broad economic recovery following the weekend announcement that the US government will bail out mortgage lenders Fannie Mae and Freddie Mac. The major indices jumped, with the Dow Jones industrials gaining more than 300 points. Meanwhile, bond prices...

Stocks Rally Strong on Fannie, Freddie Takeover

Europe, Japan, US futures see market surge

(Newser) - European and Japanese stocks saw their biggest surge since January and US futures climbed amid news of the Treasury Department’s plan to take charge of Fannie Mae and Freddie Mac, Bloomberg reports. Europe's UBS AG, pounded by subprime losses, and Japan’s Mizuho Financial Group, its biggest bank by...

Financials Key Big Turnaround
 Financials Key Big Turnaround 
MARKETS
Jul 29, 2008 3:09 PM CDT

Financials Key Big Turnaround

Surge by BofA, lower oil prices key rally that erases previous day's tumble

(Newser) - Investors, cheered by Merrill Lynch’s attempt to regain its financial footing, plowed ahead today despite ugly news on housing prices and consumer confidence, the Wall Street Journal reports. The rally helping the major indices recoup yesterday’s losses—and then some. The Dow was up 266.48 to 11,...

Dow Plunges 239 Points
 Dow Plunges 239 Points 
MARKETS
Jul 28, 2008 3:39 PM CDT

Dow Plunges 239 Points

S&P 500 sheds 1.9%; financials lead retreat

(Newser) - The markets plummeted today as worries over the economy and problems in the financial sector outweighed high spirits over the rescue plan for mortgage giants Fannie Mae and Freddie Mac, MarketWatch reports. The Dow plunged 239.61 to 11,131.08, the Nasdaq nosedived 46.31 to 2,264.22,...

Tech Firms Buoyed by Demand Abroad
Tech Firms Buoyed
by Demand Abroad
Jul 18, 2008 8:53 AM CDT

Tech Firms Buoyed by Demand Abroad

International demand keeps tech afloat even as economy sinks

(Newser) - The tech sector keeps rolling even as the overall economy continues to flail, the Wall Street Journal reports. Four of tech’s giants, Microsoft, Google, IBM and Nokia, posted quarterly results yesterday, riding high on developed nations’ need for cost-saving technologies and emerging economies’ demand for infrastructure upgrades as the...

SEC Will Limit Short Sales of Finance Stocks

Agency worried negative bets by traders are hurting the market

(Newser) - The SEC will step in to police naked short-selling of 17 financial firms, as well as Fannie Mae and Freddie Mac, the Wall Street Journal reports. The agency said it plans to impose short-term, emergency rules on Monday that curtail traders betting on the stocks to drop, worried the short...

Stocks Rebound on GM News
 Stocks Rebound on GM News 
MARKETS
Jul 1, 2008 3:31 PM CDT

Stocks Rebound on GM News

Markets edge upwards after big fall early in the session

(Newser) - Stocks rebounded from an early slump today after a better-than-expected sales report from General Motors, the Wall Street Journal reports. The GM news also pushed up stocks of other troubled automakers. The Dow ended up 32.25 at 11,382.26, the Nasdaq up 11.99 at 2,304.97,...

A Year On, Credit Crisis Lingers
 A Year On, 
 Credit Crisis
 Lingers 
ANALYSIS
Jul 1, 2008 7:09 AM CDT

A Year On, Credit Crisis Lingers

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that...

Mixed Results Cap Ugly June
 Mixed Results Cap Ugly June 
MARKETS
Jun 30, 2008 3:39 PM CDT

Mixed Results Cap Ugly June

Month was 'something like the worst since the Great Depression,' analyst says

(Newser) - Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98,...

For Venture Capitalists, Wells Run Dry

None of investors' gambles go public in second quarter

(Newser) - Wall Street has not been kind to venture capitalists in the second quarter. For the first time since 1978, not one company they backed went public, taking away their source of big paydays, the New York Times  reports. Observers cite a number of reasons, including lousy market conditions, a shift...

Stocks Drop to 2008 Low as Bad News Piles Up

Dow drops more than 250 points as GM, Citi take hits

(Newser) - Stocks tumbled today as Wall Street contended with a barrage of bad news: another surge in oil prices and warnings of trouble in the key financial, automotive, and high-tech industries. The major indexes showed losses of more than 2%, including the Dow Jones industrial average, which shed more than 250...

Stocks Dip as Fed Meets
 Stocks Dip as Fed Meets  
MARKETS
Jun 24, 2008 3:46 PM CDT

Stocks Dip as Fed Meets

Fed inaction spurs recovery from bad economic news

(Newser) - The markets seesawed throughout today's session, closing down slightly as a minor rally in financials offset bad economic news and warnings of a poor quarter for UPS, MarketWatch reports. The Dow fell 34.93 to 11,807.43, Nasdaq dropped 17.46 to 2,368.28, and the S&P...

Stocks Stall, Finish Mixed
 Stocks Stall, Finish Mixed  
MARKETS
Jun 23, 2008 3:30 PM CDT

Stocks Stall, Finish Mixed

Investors are cautious ahead of Fed meeting

(Newser) - Markets ended mixed today, burdened by high oil prices and shaky financials. "It's been a terrible market. It definitely looks like we're going to re-test the lows all this week," an economist tells the Wall Street Journal. The Dow ended down 0.33 at 11,842.36, the...

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