Dow Plunges 239 Points

Dow up 300 early as investors bet on broader recovery

(AP) - Stocks surged this morning as investors rushed to lay bets on a broad economic recovery following the weekend announcement that the US government will bail out mortgage lenders Fannie Mae and Freddie Mac. The major indices jumped, with the Dow Jones industrials gaining more than 300 points. Meanwhile, bond prices fell sharply as emboldened investors looked for riskier but higher-yielding bets. More»

Poor results at AIG, nervous retailers, rising oil all contribute to decline

(NEWSER) - The markets suffered big losses today as investors were confronted by bad news from retail and financial giants, as well as a 6-year-high in weekly unemployment, the Wall Street Journal reports. The Dow fell 224.64to 11,431.43. The Nasdaq lost 22.64 to finish at 2,355.73, and the S&P 500 fell 23.12 to 1,266.07. More»

iPhone sales spur market on

(NEWSER) - The stock market kept rising one day after the Fed slashed key interest rates, as speculation that the housing slump might ebb compounded the biggest rally in four years. The Dow climbed 76.17 to 13815.56, while the Nasdaq rose 14.82 to close at 2666.48 and the S%P jumped 9.25 to 1529.03. One manager called the Fed’s move “a shot of adrenaline,” Bloomberg reports. More»

Expected costs down from $250B to $89B in past year

(NEWSER) - The financial bailout is looking a lot less expensive these days: At a projected $250 billion just a year ago, the expected federal bailout tab is now down to $89 billion—less than the government paid for the savings-and-loan crisis 20 years ago. The falling bailout costs come thanks to fast stabilization of markets, which has let companies pay back the government sooner than expected. More»

Manufacturing employment rises

(NEWSER) - News of Prudential's agreement to buy AIG's Asia division sowed confidence on Wall Street today. Stocks rose, boosted as well by a jump in manufacturing employment, the Wall Street Journal reports.

• The Dow rose 78.53 points to close at 10,403.79.
• The Nasdaq added 35.31, closing at 2,273.57.
• The S&P 500 gained 11.22 to settle at 1,115.71.