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

July 5, 2008 6:49:09 PM CDT

Learn about Newser Points »

Back to the grid

Wall Street Up, Up, and Away for Holiday Weekend

Posted Aug 31, 07 4:42 PM CDT in US,  Business    Editor's Choice

(Newser) – On the eve of the holiday weekend, the major markets jumped today, riding encouraging comments by President Bush and Ben Bernanke to broad advances that pushed their monthly gains above 1%. The Dow, which saw 28 of 30 stocks rise, finished up 119.01 points, closing at 13,357.74. Citigroup and JP Morgan led a financial-sector rally.

The Nasdaq climbed 28.82 to close at 2,596.36, and the S&P 500 closed at 1,473.99, up 16.35. Buoyed by Bernanke’s reassuring comments, experts anticipate a rate cut next month. One analyst told Reuters that the fed chief and the president's mortgage-bailout announcement provided Wall Street with a “nice one-two punch” to help investors and homeowners.

Source MarketWatch

Editor Recommended

Related News

  • Big Rally Ends in Modest Gains

    Jun 25, 08 3:36 PM CDT
    Big Rally Ends in Modest Gains The markets rallied for much of the day on news of ebbing oil prices and the Fed's decision to hold rates steady, but it fell mostly flat by the finish on nagging worries about long-term growth, the Wall Street Journal reports. The Dow—at one point up more than 100 points—added 4.40 points to 11,811.83. The Nasdaq climbed 32.98 points to 2,401.26, while the S&P 500 rose 7.68 points to 1,321.97. More »

  • Stocks Rebound, Countering Selloff in Financials

    Mar 17, 08 10:17 AM CDT
    Stocks Rebound, Countering Selloff in Financials Stocks steadied after steep early morning losses today, with the Dow actually rising 1.06 points by mid-morning, the Wall Street Journal reports. But financials were still down big, as the Bear Stearns fire sale loomed large over the market. Lehman Brothers, down 22%, was hit the worst, other than Bear itself, which nosedived 87%. Still, at $3.79, it remained stubbornly above its $2 buyout price. More »

  • Stocks Tumble on Weak Data

    Feb 28, 08 3:56 PM CST
    Stocks Tumble on Weak Data Stocks fell more than they had in a week today amid reports of sluggish economic growth, rising jobless claims, and fears of failing banks, Bloomberg reports. The Dow fell 112.10 points to 12,582.18, the Nasdaq fell 22.21 points to 2,331.57, and the S&P 500 12.34 points to 1,367.68. The government said GDP grew by 0.6% last quarter, below analysts' estimates. More »

  • Market Up After Seesaw Session

    Feb 20, 08 3:45 PM CST
    Market Up After Seesaw Session The Dow rose 90.04 points to 12,427.26 today in roller-coaster trading despite rising fears of inflation, MarketWatch reports. US consumer prices rose 0.4% last month in what one investment officer called “a nagging problem for the Fed.” The Nasdaq climbed 20.90 to 2,327.10, and the S&P rose 11.25 to 1,360.03. More »

  • Stocks Sink on Fed Comments

    Feb 14, 08 3:46 PM CST
    Stocks Sink on Fed Comments The markets fell today after three days of growth as the Fed warned that continuing credit trouble will restrain the economy and several top brokerage firms saw their earnings estimates reduced, MarketWatch reports. The Dow slid 175.26 points to 12,376.98, the Nasdaq dropped 41.39 to 2,332.54, and the S&P 500 fell 18.35 to 1,348.86. More »

Specialist Benton Bocklet works at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 14, 2007. Wall Street pulled back sharply Tuesday on anxiety about the pace of consumer spending...   (Associated Press)
Richard Zboray of Van der Moolen Specialists looks at an overhead monitor from the floor of the New York Stock Exchange, Tuesday, Aug. 28, 2007, in New York. Wall Street extended its retreat as investors...   (Associated Press)
A for sale sign stands outside a modest bungalow on the market in southeast Denver on Monday, May 7, 2007. Sales of existing homes fell by a larger-than-expected amount in April while the median price...   (Associated Press)
Federal Reserve Board Chairman Ben Bernanke testifies on Capitol Hill in Washington, in this July 18, 2007 file photo, before the House Financial Services Committee. The Federal Reserve approved a half-percentage...   (Associated Press)
Dow Retreats On Subprime Fears   (Getty Images)
Dow Up On Wall Street In Early Trading   (Getty Images)
prev    next
play

Threads (1 of 3)

Tags

subprime mortgages  • Federal Reserve  • S&P 500  • Nasdaq  • Dow Jones  • Wall Street  • Ben Bernanke  • Citigroup  • stocks  • interest rate  • JPMorgan Chase



Related Threads: Subprime Collapse, The Dow, Ben Bernanke

Next story from this section »

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 »