Stocks Soar 300+ on Geithner Plan

(NEWSER) - Swine flu fears, and negative reports about the banks left investors feeling ill this morning. The Dow fell 65 points, while Nasdaq fell 0.8% and the S&P 0.9%. Bank of America and Citigroup were headed south, down 7.5% and 6.2% respectively on reports that they’d need to raise capital following poor stress test showings. Airlines were also lower. Overseas, swine flu fears pushed the Nikkei down 2.7%. More»

(NEWSER) - More bankruptcy rumblings from General Motors sent stocks down early today, but the blow was cushioned by good news from the financial sector, the Wall Street Journal reports. Citi and Bank of America had double-digit gains ahead of what are expected to be solid earnings reports. The Dow finished down 25.57 at 8,057.81; the Nasdaq rose 0.77, to 1,653.31; and the S&P 500 gained 2.17 to 858.73. More»

(NEWSER) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell 33, after a downgrade from Cisco and a report that the Sun takeover deal was in jeopardy. More»

Geithner's plan wins positive reviews from Street

(NEWSER) - Stocks locked in big gains today with the rally sparked by the rollout of the Treasury’s financial rescue plan, the Wall Street Journal reports. Financials led advances, with Citigroup and Bank of America up 24% and 19%, respectively. The Dow jumped 497.48 to 7,775.86. The Nasdaq rose 98.50 to 1,555.77, and the S&P 500 gained 54.38, settling at 822.92. More»

(NEWSER) - Stocks fell ever so slightly at today's open, defying futures that had shown yesterday’s big rally continuing. The Dow inched down 20 points, while the S&P and Nasdaq were essentially flat. But financials were still moving and shaking, with Citigroup adding 13% and Bank of America up 5%, driven by Citi’s declaration yesterday that it was profitable for January and February. More»