Stocks Fall Second Straight Day

(NEWSER) - Stocks soared at the open today, thanks to Wells Fargo’s announcement that it expects record first-quarter earnings, the Wall Street Journal reports. The Dow climbed 150 points, while the Nasdaq added 1.8% and the S&P jumped 2.3%. Wells Fargo was up more than 20%. A sterling jobs report didn’t hurt, either; initial jobless claims dropped 20,000 last week, the biggest drop this year, and twice what the Street expected. More»

(NEWSER) - Stocks skyrocketed at today's open, spurred by reports that the Obama administration would likely form a “bad bank” to buy up illiquid assets. The Dow jumped 110 points, and the S&P and Nasdaq gained 1.9% and 1.8% respectively. Banking stocks led the way, with Citigroup leaping 20% and Bank of America 18%. Wells Fargo threw more fuel on the bulls’ fire, maintaining its dividend despite a $2.55 billion quarterly loss. More»

'This is just about fear right now'

(NEWSER) - Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200 or 900 points,” said one trader. All 30 of the index's stocks were in the red. More»

New Wachovia deal boosts optimism

(NEWSER) - Stocks climbed higher today, buoyed by Wells Fargo’s deal to snatch Wachovia from Citigroup. The Dow is up more than 100 points in early trading, while the Nasdaq and S&P rose 1.7% and 1.5%, respectively. Seemingly ignored was a worse-than-expected employment report, which showed the sharpest drop in nonfarm payrolls since 2003, the Wall Street Journal reports. Many investors were also remaining on the sidelines, awaiting today's House bailout vote. More»

Dow up 300 early as investors bet on broader recovery

(AP) - Stocks surged this morning as investors rushed to lay bets on a broad economic recovery following the weekend announcement that the US government will bail out mortgage lenders Fannie Mae and Freddie Mac. The major indices jumped, with the Dow Jones industrials gaining more than 300 points. Meanwhile, bond prices fell sharply as emboldened investors looked for riskier but higher-yielding bets. More»