Stocks Rally; Dow Up Almost 200

Tech earnings, Bear Stearns, Bernanke send Dow tumbling 53.33

(NEWSER) - US markets sank today after two Bear Stearns hedge funds were revealed to be worthless and the Fed Chairman expressed concerns about the stability of the economy. Testifying before the House, Ben Bernanke said he expects growth next year, but stressed that the sinking housing market continues to saddle the economy. After four straight record closes, the Dow dropped 53.33 to 13918.22. More»

Bernanke predicts US GDP growth in 2010

(NEWSER) - Stocks rallied today on news of strong third-quarter economic growth in Japan and reassurance from Ben Bernanke that the Fed will keep interest rates low, the Wall Street Journal reports.

• The Dow rose 136.49 points to close at 10,406,96.
• The Nasdaq gained 29.97, settling at 2,197.85.
• The S&P 500 added 15.82 to close at 1,109.30.

Oil prices tumble $2.79

(NEWSER) - After an initial boost off the Fed's cautiously optimistic announcement and decision to leave interest rates unchanged, stocks fell late in the session, the Wall Street Journal reports. Crude oil tumbled $2.79 to $68.53 a barrel, driving sell-offs in energy stocks that in turn depressed the major indices. The Dow dropped 81 points to close at 9,749. The Nasdaq lost 15 points, settling at 2,131, and the S&P 500 fell 11 points to close at 1,061. More»

Investors look past Intel to manufacturing

(NEWSER) - Stocks rose late in today’s session, buoyed by decent news from the Fed’s Beige Book, the Wall Street Journal reports. The report showed manufacturing activity stabilizing or rising in five of 12 US districts, after months of declines. The Dow closed up 109.44 at 8,029.62. The Nasdaq gained 1.08 to close at 1,626.80, while the S&P 500 added 10.56, settling at 852.06. More»

Obama plan for 'bad bank' inspires confidence

(NEWSER) - The Fed’s announcement today that it will keep target rates near zero sustained a rally led by financials, the Wall Street Journal reports. Financials continued to rise off the Obama administration’s plan to create a “bad bank” to buy toxic assets, with the Financial Select Sector Fund, which tracks the sector, up 11.2%. The Dow closed up 200.72 points at 8.375.45. The Nasdaq jumped 53.44 to 1,558.34, and the S&P 500 climbed 28.38 to 874.09. More»