IBM Leads Stock Surge

(NEWSER) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell 33, after a downgrade from Cisco and a report that the Sun takeover deal was in jeopardy. More»

(NEWSER) - Stocks took a turn for the worse at the open today, heading south after yesterday’s rally. The Dow fell 67 points, while the S&P declined 0.8%. The Nasdaq fell 0.5%, but component Sun Microsystems soared 65% on news IBM might acquire it. Investors are anxiously awaiting guidance out of today's Fed meeting, even though the target rate’s unlikely to move. The consumer price index rose 0.4% last month, a bigger-than-expected jump. More»

At least in tech

(NEWSER) - Stocks bounced back at the open this morning, as tech sector hope outpaced financial sector gloom. The Dow climbed 126 points, while the Nasdaq and S&P jumped 2% and 1.7% respectively. IBM was the star of the show, after posting a 12% surge in fourth-quarter profits and an upbeat 2009 outlook. Its shares jumped more than 8%. United Technologies likewise had a fine quarter, with its 8% profit jump beating estimates by a penny. More»

Same-store sales weak in October

(NEWSER) - Stocks took a modest slide at the open today, thanks to dismal data from retailers. The Dow fell 57 points, while the Nasdaq and S&P dropped 1.1% and 0.9% respectively, the Wall Street Journal reports. Most retailers, with the notable exception of Wal-Mart, posted bleak same-store sales for October, which, combined with Cisco slashing its current-quarter estimates, overshadowed any bump from European rate cuts. More»

But yesterday's gain hasn't evaporated yet

(NEWSER) - Stocks took a modest dip at the open today, as investors waited for a rate cut decision from the Federal Reserve. The Dow fell 53 points, while the S&P and Nasdaq crept down 0.9% and 1.1% respectively. Investors are expecting a half-point rate cut, bringing the fed funds rater down to 1%, and some believe an even bigger cut is coming, the Wall Street Journal reports. More»