Dow Powers to Record High

Blue-chip average flirts with 13,000; S&P 500, Nasdaq reach 6-year peaks

(NEWSER) - The Dow closed at a record high of 12,961.98 today, gaining 153.35 points as it rode a wave of positive earnings reports that pushed the S&P 500 and the Nasdaq to six-year highs, too, CNN reports. The Dow reached an all-time high of 12,966.29 shortly before its third straight record close. More»

(NEWSER) - Don't buy stock in a company whose CEO lives in a huge house, a new study says. CEOs who move into regular-sized digs —5,600 square feet for the typical company head — see their company's stock jump an average 6% the following year. Those who go palatial — 10,000 square feet or more — watch stocks dip by an average of 1.7%. More»

US' downgraded credit rocks Wall Street in punishing session

(NEWSER) - The Dow Jones plummeted under 11,000 today, dropping 635 points as the United States' downgraded credit rating punished the markets. The drubbing took the Dow down 5.55% to 10,810, reports MarketWatch . The Nasdaq and S&P 500 bled more, shedding 6.90% and 6.66% respectively. More»

(NEWSER) - It's good news, bad news time for investors. The good news: In the last 100 years, only five other rallies have matched the 46% leap the Dow’s taken over the past six months. The bad news: None of those other extraordinary rallies, which came in the 1930s and 1970s, held, the Wall Street Journal reports. Like the current rally, those historical rallies came after big—in fact, even bigger—declines. While some lasted as long as two years, the big gains were all in the first six months. More»

Bank of America, JP Morgan Chase post modest advances

(NEWSER) - Stocks were mixed today, between a slide by Boeing and a successful auction of 2-year Treasury notes, the Wall Street Journal reports. Another delay for its Dreamliner dragged Boeing down 6.27%; Bank of America and JP Morgan Chase both advanced after yesterday’s sell-off. The Dow fell 16.10 to 8,322.91. The Nasdaq lost 1.27, settling at 1,764.92, while the S&P 500 gained 2.06 to close at 895.10. More»