Dow Rises 270 on Late Rally

Nationalization talk spurs financial sell-off

(NEWSER) - Stocks lost value again today as talk of nationalizing top US banks spurred investors to sell financials, MarketWatch reports. The Obama administration tried to tamp down the nationalization chatter, but without success. Meanwhile, General Electric and General Motors fell 6% and 16%, respectively. The Dow lost 100.28 to close at 7,365.67. The Nasdaq closed down 1.59 at 1,441.23, and the S&P 500 lost 8.89 to settle at 770.05. More»

Stock indexes finish week up 3%

(NEWSER) - Stocks rose slightly today after analysts upgraded GE—a striking sign of confidence, given the troubles at its finance arm over the previous year. But any enthusiasm was tempered by the news that unemployment hit 10.2% in October, the highest level since 1983.

• The Dow rose 17.46 points to close at 10,023.42.
• The Nasdaq added 7.12, settling at 2,112.44.
• The S&P 500 gained 2.67 to close at 1,069.30.

Dour day cuts into weekly gains

(NEWSER) - Stocks fell today as optimism about economic recovery waned in the face of disappointing earnings. Bank of American and General Electric’s financing division both posted quarterly losses. IBM, which reported strong profits but spooked investors with downbeat comments on the readiness of businesses to spend on technology, fell 5.2%, weighing down the price-weighted Dow. The Dow fell 67.03 points to close at 9,995.91. The Nasdaq lost 16.49, settling at 2,156.80, and the S&P 500 fell 8.88 to close at 1,087.68, the Wall Street Journal reports. More»

Signs of life in M&A spur late advances

(NEWSER) - Stocks swung to gains late in the session today, with industrial stocks and utilities pacing advances, the Wall Street Journal reports. Reports of the Chinese government acquiring power-plant developer AES boosted the S&P 500. AES gained 4.5%, and General Electric climbed 4.6%. The Dow rose 21.39 points to close at 9,626.80. The Nasdaq gained 10.88, closing at 2,091.76, and the S&P 500 added 6.61 to settle at 1,049.34. More»

Indices post declines for the week

(NEWSER) - Traders focused on positive aspects of today's August unemployment report—declining job losses—rather than the upward revision in total jobless numbers, sending stocks higher, the Wall Street Journal reports. General Electric led advancing stocks on the Dow with a 3.35% gain. The Dow rose 96.66 points to close at 9,441.27. The Nasdaq added 33.38, settling at 2,018.78, and the S&P 500 gained 13.16 to settle at 1,016.40. More»