Stocks Edge Up on Mixed Day

Goldman Sachs rises, Pfizer falls

(NEWSER) - The stock market indices swung back and forth across a narrow range today as financials enjoyed advances but the health care sector declined, the Wall Street Journal reports. Goldman Sachs was up 3.69% after Bank of American Merrill Lynch upgraded Goldman shares from “neutral” to “buy.” Pfizer fell 2.19%. The Dow closed up 54.76 at 8,183.17, the Nasdaq gained 5.38, closing at 1,752.55, and the S&P 500 rose 3.12 to settle at 882.68. More»

(NEWSER) - Stocks plunged at the open, as banks sold shares to raise capital, and consumer and commodity stocks took a pounding, the Wall Street Journal reports. The Dow was down 140, the Nasdaq down 1.8% and the S&P off 2.1. Oil producers were hit hard as crude fell blow $58 a barrel, while Bank of America and Morgan Stanley led financials south, falling 3% and 2% respectively. More»

SEC moves to restrict short selling

(NEWSER) - Stocks plummeted again today as insecurity about the financial system gripped the markets, the Wall Street Journal reports. The AIG bailout proved to be of little comfort to traders, who quickly began betting on the next big firm to fall. The Dow closed down 449.36 points to 10,609.66. The Nasdaq fell 109.05, closing at 2,098.85, and the S&P 500 lost 57.21 points, settling at 1,156.39. More»

Good numbers from consumers make for bullish afternoon

(NEWSER) - Thanks to two pieces of unexpectedly good news today, the markets erased early losses, the Dow climbing 44.06 to 13,517.96 after dipping to almost 13,350 this morning. Retail sales in November increased 1.2%, twice what watchers had estimated. And wholesale prices had their biggest one-month jump since 1973, a 3.2% rise nearly doubling estimates, the Journal reports. Both numbers suggested economic strength. More»

Good vibes on mortgage deals steady markets

(NEWSER) - Bad news in the financial sector today meant the first bearish day for the market in five sessions, as Deutsche Bank’s negative prediction for fourth-quarter earnings pushed Morgan Stanley, Merrill Lynch, and Lehman Brothers downward. The Dow fell 57.15 to 13,314.57, the Nasdaq slid 23.83 to 2,637.13, and the S&P 500 lost 8.72 to close at 1,472.42. More»