Stocks Fall on Dismal Earnings

(NEWSER) - Good news from the housing sector outweighed bank troubles today for Wall Street, the Journal reports. Manufacturer Alcoa tacked on 6%, and a housing-industry group said sales in April made the biggest jump in 8 years. Financials fell after more banks announced plans to pay back TARP loans through stock offerings. The Dow was up 19.43 to 8.740.87. The S&P gained 1.91, ending at 944.78. And the Nasdaq rose 8.12 to 1,836.80. More»

Bad news from Texas Instruments, high crude prices quash optimism

(NEWSER) - Stocks fell today, with investors shying away from tech after Texas Instruments slashed its sales forecast. NYSE losers outpaced winners 9 to 7, the Dow dropped 16.74 to 13,291.65, the Nasdaq fell 5.40 to 2,592.07, and the S&P held steady. “We had a pretty explosive rally yesterday,” said one strategist, “and the day after we tend to gather our thoughts.” More»

Bear Stearns downgrade stirs more trouble as Dow loses 2%

(NEWSER) - After two straight days of gains and a steady morning the Dow plummeted in a selloff late this afternoon, losing 2% of its value to close at 13179.71, down 283.62. Bear Stearns lost big after Standard and Poors downgraded the subprime-laden i-bank from "stable" to "negative," stirring more worries over the deeply troubled credit market. Financial stocks followed expeditiously: Lehman brothers lost almost 8%. More»

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»

Analyst chalks it up to psychology

(NEWSER) - Stocks had their best day in more than a week today, with the Dow jumping a whopping 322 points, while the Nasdaq and S&P gained 101 and 39 points respectively. Investors are betting that the Federal Reserve will heap more stimulus on the economy this week, Bloomberg reports, while a market analyst tells MarketWatch that the rally should be chalked up to “a shift in investor psychology.” More»