Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 7:50:00 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Stocks Fall on Financial Pessimism

Posted Aug 27, 07 4:48 PM CDT in US,  Business 

(Newser) – US stocks fell today on a disappointing home-sales report and lowered projections for Countrywide, the nation’s top home lender, with Lehman Brothers citing “extraordinary weakness” in mortgage loans. The Dow closed at 13,322.13, down 56.74, near the session low. The S&P 500 fell 12.58, to 1,466.79, and the Nasdaq declined 15.44 to close at 2,561.25.

Volume was down—the NYSE moved just 1.1 billion shares, the low for a full session in 2007—amid ongoing concern over the real estate downturn. "Until the Fed does something to lower the cost of debt," one analyst told Bloomberg, "this drag on the consumer will continue." But futures traders don't see that happening.

Source Bloomberg

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Housing, Labor Pummel Stocks

    Jul 24, 08 3:29 PM CDT
    Housing, Labor Pummel Stocks Stocks saw big losses today as bad news on housing and employment soured investors’ hopes of a looming economic turnaround, the Wall Street Journal reports. The Dow fell 283.10—a 2.43% drop—to close at 11,349.28; the Nasdaq shed 45.77, to 2,280.11; and the S&P 500 lost 29.65, closing at 1,252.54. More »

  • Mixed News Keeps Gains Slim

    Jul 23, 08 3:15 PM CDT
    Mixed News Keeps Gains Slim The markets pared earlier gains to end just slightly positive today, amid mixed earnings reports and a gloomy-but-expected Federal Reserve data on the US economy, the Wall Street Journal reports. The Dow gained 29.88, closing at 11,632.38. The Nasdaq gained 21.92, settling at 2,325.88, while the S&P 500 fell 5.19 to 1,282.19. More »

  • Stocks Rise as Oil Drops

    Jul 22, 08 3:22 PM CDT
    Stocks Rise as Oil Drops Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the S&P 500 climbed 17.01 points to 1,277.01. More »

  • Pharma, Tech Kill Early Gains

    Jul 21, 08 3:40 PM CDT
    Pharma, Tech Kill Early Gains The markets failed to hold on to early-session gains today as oil rose above $131 per barrel and the overall economic outlook remained downcast, MarketWatch reports. The Dow lost 29.23 points to close at 11,467.34, the Nasdaq fell 3.25 to 2,279.53, and the S&P 500 dropped just 0.68, settling at 1,260.00. More »

  • Mixed Note Caps Big Week

    Jul 18, 08 3:23 PM CDT
    Mixed Note Caps Big Week The markets were mixed today as poor results across the tech sector and from Merrill Lynch put the brakes on a two-day rally, MarketWatch reports. Good news from Citigroup kept the Dow buoyant, and it closed up 49.91, at 11,496.57. The tech-heavy Nasdaq took a 29.52-point dive, settling at 2,282.78, while the S&P 500 gained 0.36 to1,260.68. More »

Traders and Specialists work the trading floor of the New York Stock Exchange.   (Associated Press)
  (Associated Press)
Traders and Specialists work the trading floor of the New York Stock Exchange.   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Related Links

Tags

stock market  • S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Lehman Brothers  • Countrywide


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »