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

October 6, 2008 11:30:55 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Lender Woes Keep Lid on Gains

Posted Jul 10, 08 3:39 PM CDT in Business 

(Newser) – The markets ended with modest gains today, led by a rally in financials despite continued anxiety over the future of Freddie Mac and Fannie Mae, MarketWatch reports. Treasury chief Henry Paulson and Ben Bernanke's call for greater regulatory powers encouraged investors. The Dow gained 81.58 points to 11,229.02, the Nasdaq rose 22.96 to 2,257.85, and the S&P 500 gained 8.70 to 1,253.39.

Bank of America led the financials rally after announcing it would not cut its dividend. Dow Chemical rallied after it said it would buy Rohm & Haas for $15 billion. Fannie Mae and Freddie Mac fell 22% and 15%, respectively, continuing a weeklong tumble over fears of a Bear-style implosion despite government reports that the firms are adequately capitalized.

Sources MarketWatch, Wall Street Journal

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

Related Newser Stories

  • Street Watches Hill; Stocks Fall

    Sep 23, 08 3:23 PM CDT
    Street Watches Hill; Stocks Fall Stocks traded sharply lower at the end of today’s roller-coaster session as investors watched lawmakers balk at quickly enacting the financial bailout plan, the Wall Street Journal reports. The Dow fell 161.52 to close at 10,854.17. The Nasdaq lost 25.64, closing at 2,153.34, and the S&P 500 shed 18.87, settling at 1,188.22. More »

  • Stocks Rally, End Week Mixed

    Sep 19, 08 3:44 PM CDT
    Stocks Rally, End Week Mixed Stocks continued to rally today, gaining enough on news of the government’s plan to form a debt relief agency for financial firms that the week's last two sessions saw the markets almost overcome the week’s earlier losses, MarketWatch reports. The Dow gained 368.75 to close at 11,388.44, the Nasdaq rose 74.80 to 2,273.90, and the S&P 500 climbed 48.57 to 1,255.08.
    More »

  • Dow Plunges 449 Points

    Sep 17, 08 3:41 PM CDT
    Dow Plunges 449 Points Stocks plummeted again today as insecurity about the financial system gripped the markets, the Wall Street Journal reports. The AIG bailout proved to be of little comfort to traders, who quickly began betting on the next big firm to fall. The Dow closed down 449.36 points to 10,609.66. The Nasdaq fell 109.05, closing at 2,098.85, and the S&P 500 lost 57.21 points, settling at 1,156.39.
    More »

  • Bailout Rally Tails Off Late

    Sep 8, 08 3:38 PM CDT
    Bailout Rally Tails Off Late US stocks rallied as traders bet the bailout of Fannie Mae and Freddie Mac would help the economy recover, but lost some of those gains—with the Nasdaq even flirting with losses—as the day wore on, MarketWatch reports. Nonetheless, the Dow gained 289.78, closing at 11,510.74. The Nasdaq closed up 13.88, at 2,269.76, while the S&P 500 rose 25.48 to finish at 1,267.79. More »

  • Stocks Rally on GDP Revision

    Aug 28, 08 3:15 PM CDT
    Stocks Rally on GDP Revision Stocks rallied today as MBIA led gains for bond insurers and the news of an upward revision to the second-quarter US gross domestic product brightened investor sentiment, MarketWatch reports. The Dow rose 212.67 to close at 11,715.18. The Nasdaq gained 29.18, closing at 2,411.64, and the S&P 500 climbed 19.01 to settle at 1,300.67. More »

In this 2007 file photo, pedestrians pass a branch office of Bank of America in New York.   (AP Photo)
Traders work the floor of the New York Stock Exchange Thursday, July 10, 2008, in New York.   (AP Photo/Frank Franklin II)
Traders work the floor of the New York Stock Exchange Thursday, July 10, 2008, in New York.   (AP Photo/Frank Franklin II)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 3)

Tags

S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Bank of America  • financial stocks


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

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 »