Stocks Drop on Fed Chief's Mixed Report

Fed's latest actions draw late but rave reviews

(NEWSER) - Stocks rallied today on strong performances by several big tech firms, MarketWatch reports. Investors also poured money into financials in anticipation of the dollar boost the Fed will cause by holding interest rates steady after yesterday’s cut. The Dow climbed 189.87 to at 13,010.00, the Nasdaq rose 67.91 to 2,480.71, and the S&P 500 jumped 23.72 to 2,480.71. More»

Bernanke predicts US GDP growth in 2010

(NEWSER) - Stocks rallied today on news of strong third-quarter economic growth in Japan and reassurance from Ben Bernanke that the Fed will keep interest rates low, the Wall Street Journal reports.

• The Dow rose 136.49 points to close at 10,406,96.
• The Nasdaq gained 29.97, settling at 2,197.85.
• The S&P 500 added 15.82 to close at 1,109.30.

Oil prices tumble $2.79

(NEWSER) - After an initial boost off the Fed's cautiously optimistic announcement and decision to leave interest rates unchanged, stocks fell late in the session, the Wall Street Journal reports. Crude oil tumbled $2.79 to $68.53 a barrel, driving sell-offs in energy stocks that in turn depressed the major indices. The Dow dropped 81 points to close at 9,749. The Nasdaq lost 15 points, settling at 2,131, and the S&P 500 fell 11 points to close at 1,061. More»

(NEWSER) - Stocks dipped today on worse-than-expected information about consumer sentiment, the Wall Street Journal reports. A Reuters index dropped 3 points instead of the anticipated 2-point rise. A downward spiral has been evident since the Fed announced it would not raise interest rates Wednesday. “A day like today has been long overdue,” said an observer. The Dow was off 76.79 and closed 9,321.40. The S&P sank 8.64 to 1,004.09, and the Nasdaq lost 23.83 to end at 1,985.52. More»

(NEWSER) - The tech sector drove a substantial market rally today led by rosy projections from chipmaker Intel, the Wall Street Journal reports. Other technology stocks followed Intel—up 7.5%—as investors predicted a resurgence of the consumer electronics market. Good news from the Fed and the credit industry also helped fuel the surge. The Dow was up 257.62, or 3.1%, to 8,616.21. The S&P gained 26.83, to 932.67. And NASDAQ tacked on 63.17 to end at 1,862.90. More»