Skip to: Content
Skip to: Site Navigation
Skip to: Search
FRIDAY, NOVEMBER 27, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


 MARKETS 
0

Dow Gains 68 Despite Banks

Options expirations cause market volatility

Share

(Newser) – US stocks clawed back to gains today amid turmoil in the financial sector and volatile price swings stemming from the expiration of January options contracts, MarketWatch reports. Although 100 points off its open at midday, the Dow finished with a gain of 68.73, to 8,281.22. The Nasdaq added 17.49, settling at 1,529.33, and the S&P 500 gained 6.38 to 850.12.

Citigroup and Bank of America posted huge losses, but their stocks initially gained off the news they would receive additional bailout funds. The rally didn’t last: Citi closed down 8.6%, and BoA lost 13.7%. Financials were also rocked by a run on Barclays in the London Stock Exchange that sent the bank’s US shares tumbling 15.2%—though there wasn’t any concrete news to explain the original drop.

In this April 21, 2008 file photo, a Bank of America branch is shown in Charlotte, N.C. Escalating credit costs forced Bank of America Corp. to report a $2.39 billion fourth-quarter loss Friday, Jan. 16, 2009, hours after it convinced the federal government it needed a multibillion-dollar lifeline...
In this April 21, 2008 file photo, a Bank of America branch is shown in Charlotte, N.C. Escalating credit costs forced Bank of America Corp. to report a $2.39 billion fourth-quarter loss Friday, Jan....   (AP Photo/Chuck Burton, file)
Traders work on the floor of the New York Stock Exchange in this undated file photo.
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Richard Drew)
A Citibank branch prominently marks the corner of 40th St. and Broadway in New York as a pedestrian passes by Tuesday, Nov. 25, 2008.
A Citibank branch prominently marks the corner of 40th St. and Broadway in New York as a pedestrian passes by Tuesday, Nov. 25, 2008.   (AP Photo/Craig Ruttle)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

706 Stories

MARKETS

 Dow Up 31 on Jobs, Income 

Weekly jobless claims hit 14-month low

Nov 25, 09 3:08 PM CST
(Newser) - Stocks saw solid gains as positive data on personal income and jobless claims raised hopes for a solid post-Thanksgiving shopping season, the Wall Street Journal reports.
  • The Dow rose 31 points, closing at 10,464.
  • The Nasdaq gained 7 points, settling at 2,176.
  • The S&P
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Dow Drops 17 Points  

Home prices rise but fail to meet expectations

Nov 24, 09 3:17 PM CST
(Newser) - Stocks almost managed to recover from steep losses suffered early in the day but ended in the red. Among the factors: China signaled it's ready to tighten credit, and September home prices rose but less than expected, the Wall Street Journal reports.
  • The Dow closed down 17 points at
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Up 133, Dow Hits New '09 High

Data on home resales spur rally

Nov 23, 09 3:18 PM CST
(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • home sales • Nasdaq • existing home sales • S&P 500 • existing-home sales

706 Stories


Read more on the breakup of Citigroup into Citicorp and Citi Holdings
New York Times

British government considers options as Barclays stock crashes
Reuters

'Fear index' goes past key milestone of 50
Reuters


US  •  Business 
TwitterFollow @NewserUS on Twitter

 
Citigroup • Bank of America • Barclays • Dow Jones • Nasdaq • S&P 500 • financial stocks

from our news partners

PopEater.com