Dow Up 137; Fed News Sparks Rally

Markets recover after last week's bloodbath

(NEWSER) - Stocks posted gains today as some investors bought up bargains in the wake of last week's big losses—but volume was light as most remained cautious ahead of the State of the Union address, a hearing on AIG's bailout, and a Fed interest-rate decision, the Wall Street Journal reports.

• The Dow rose 23.88 points to close at 10,196.86.
• The Nasdaq added 5.51, settling at 2,210.80.
• The S&P 500 gained 5.02, closing at 1,096.78.

Dow closes at highest level since October 2008

(NEWSER) - Stocks rallied today off an upswing in manufacturing activity for December and Fed comments that reaffirmed the central bank's continued commitment to low interest rates, the Wall Street Journal reports.

• The Dow jumped 155.91 points to close at 10,583.96.
• The Nasdaq added 39.27, closing at 2,308.42.
• The S&P 500 gained 17.89, settling at 1,132.99.

Traders not yet convinced by jobs data

(NEWSER) - Stocks gave up modest gains as today's session unfolded, with traders remaining defensive in response to reports the Fed will keep interest rates low for a while longer, the Wall Street Journal reports.

• The Dow added 1.21 points to close at 10,390.11.
• The Nasdaq fell 4.74, settling at 2,189.61.
• The S&P 500 dropped 2.73 to close at 1,103.25.

Oil prices tumble $2.79

(NEWSER) - After an initial boost off the Fed's cautiously optimistic announcement and decision to leave interest rates unchanged, stocks fell late in the session, the Wall Street Journal reports. Crude oil tumbled $2.79 to $68.53 a barrel, driving sell-offs in energy stocks that in turn depressed the major indices. The Dow dropped 81 points to close at 9,749. The Nasdaq lost 15 points, settling at 2,131, and the S&P 500 fell 11 points to close at 1,061. More»

(NEWSER) - Stocks dipped today on worse-than-expected information about consumer sentiment, the Wall Street Journal reports. A Reuters index dropped 3 points instead of the anticipated 2-point rise. A downward spiral has been evident since the Fed announced it would not raise interest rates Wednesday. “A day like today has been long overdue,” said an observer. The Dow was off 76.79 and closed 9,321.40. The S&P sank 8.64 to 1,004.09, and the Nasdaq lost 23.83 to end at 1,985.52. More»