Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 4:54:02 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Techs Push Stocks Back Up

Posted Jan 9, 08 3:47 PM CST in Business 

(Newser) – Stocks moved higher today, boosted by the first upward bump in tech shares in seven days. Meanwhile, Berkshire Hathaway said it might invest in municipal bond insurers, Bloomberg reports. The company is "looking at ways to support the existing insurers in terms of reinsurance and capital," one exec said. The Dow was up 146.24 to 12,735.31, the Nasdaq 34.04 to 2,474.55, and the S&P 18.94 to 1,409.13.

Hewlett-Packard's announcement that it could withstand an economic slowdown helped along the tech rally, and Gilead Sciences and Pfizer rose after Goldman Sachs analysts predicted that big pharma could also weather a slowing economy, Bloomberg reports. Financials moved back upward after hitting a four-year low, led by Bear Stearns, Merrill Lynch and Morgan Stanley.

Sources Bloomberg, Wall Street Journal, CNN, Financial Times (UK)

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Tech Firms Buoyed by Demand Abroad

    Jul 18, 08 8:53 AM CDT
    Tech Firms Buoyed by Demand Abroad 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 Internet and cell phones enjoy wider use in the developing world. More »

  • SEC Will Limit Short Sales of Finance Stocks

    Jul 16, 08 9:48 AM CDT
    SEC Will Limit Short Sales of Finance Stocks 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 selling is worsening the crisis in the financial sector. More »

  • Stocks Rebound on GM News

    Jul 1, 08 3:31 PM CDT
    Stocks Rebound on GM News 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, and the S&P 500 up 4.91 at 1,284.91. More »

  • A Year On, Credit Crisis Lingers

    Jul 1, 08 7:09 AM CDT
    A Year On, Credit Crisis Lingers 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 fewer people can buy homes, Vikas Bajaj writes. Yesterday, the stock market finished its roughest 12 months since 2003. More »

  • Mixed Results Cap Ugly June

    Jun 30, 08 3:39 PM CDT
    Mixed Results Cap Ugly June 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, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month. More »

Warren Buffett, chairman of Berkshire Hathaway, is seen following a news conference in Omaha, Neb. in this May 6, 2007 file photo. Berkshire Hathaway announced today it might invest in municipal bond...   (Associated Press)
Traders on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)   (Associated Press)
Hewlett-Packard CEO Mark Hurd speaks at the Oracle World Conference in San Francisco, Monday, Nov. 12, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 2)

Tags

stock market


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »