Stagflation Jitters Sink Stocks

Google, AmEx drop despite positive earnings reports

(NEWSER) - Strong earnings just weren't enough to buoy the markets today, as Google and American Express saw big declines despite strong quarterly reports. Goldman Sachs and other financials also posted losses due to fear over President Obama's new restrictions on banks, the Wall Street Journal reports.

• The Dow lost 216.90 points to close at 10,172.98.
• The Nasdaq fell 60.41, dropping to 2,205.29.
• The S&P 500 shed 254.72, settling at 1,091.76.

Dow gains 0.5% for the week, other indices fall

(NEWSER) - Energy stocks led declines on Wall Street today after Goldman Sachs downgraded coal firm Peabody Energy, and Dell reported a bigger-than-expected profit decline, the Wall Street Journal reports.

• The Dow closed down 14.28 points at 10,318.16.
• The Nasdaq lost 10.78, closing at 2,146.04.
• The S&P 500 fell 3.52, settling at 1,091.38.

US retail sales up 0.6% in June, but investors show caution

(NEWSER) - Stocks wavered in a narrow range today before closing with modest gains, the Wall Street Journal reports. Though Goldman Sachs posted a quarterly profit way beyond expectations and the Commerce Department reported that US retail sales rose 0.6% last month, investors’ reaction was muted. The Dow rose 28 points to close at 8,360. The Nasdaq gained 6, settling at 1,800, and the S&P 500 added 5 to close at 906. More»

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»

Dow falls 289 on financial uncertainty

(NEWSER) - Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute shareholder value. The Dow lost 289.60 to close at 7,841.73. The Nasdaq shed 64.86, to 1,608.21, and the S&P 500 lost 37.21 to 832.39. More»