Banks Give Stocks the Flu

(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»

(NEWSER) - Stocks sprinted out of the gates today, the Wall Street Journal reports, spurred by the Treasury’s long-awaited toxic asset plan. The Dow was up 316 just after noon, while the Nasdaq and S&P 500 added 4.1% and 4.5%, respectively. Banking stocks were the biggest winners, with Citigroup up 24%, and Bank of America up 15%. The gains follow similar moves overseas, with several Asian indexes surged 3% or more. 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»

(NEWSER) - Stocks limped higher at the open today, after a punishing Monday session that left the Dow below 7,000, its worst levels since April 1997. Today the Dow was up 80 points in early trading, the Wall Street Journal reports, while the S&P and Nasdaq added 1.6% and 1.5%, respectively. Financial stocks were modestly higher, with Citigroup up 11% and Bank of America up 4.7% More»