Bailout, Oil Send Dow Down 372

A profit warning from Chevron highlights problems in the energy sector

(NEWSER) - The major stock indices finished mixed today, with the Dow trending down after Chevron issued a profit warning, the Wall Street Journal reports. Chevron was down 2.7% on news that a weak dollar and poor profits at refineries will cut into its second-quarter earnings. Exxon also fell 1.3%. The Dow dropped 36.65 points to close at 8,146.52. The Nasdaq rose 3.48, settling at 1,756.03, and the S&P 500 fell 3.55 to close at 879.13. More»

(NEWSER) - Stocks jumped at the open today, with the Dow up 61 points, the Nasdaq adding 0.5%, and the S&P gaining 0.7%, powered by strong moves in its energy and basic materials sectors. That was due in part to the surge in fuel prices, with oil clearing $71 a barrel. Chevron and Exxon Mobil each rose 1%. Shares in industrial companies also climbed, with Caterpillar up 1.3%. If it holds, the Dow's move will put it in positive territory for the year. More»

Weak data, contract expirations stoke selloff

(NEWSER) - Stocks fell today as oil futures declined, the jobs picture remained grim, and two of the Detroit’s Big Three announced production stops due to lack of funds, MarketWatch reports. The imminent expiration of options and futures contracts also bedeviled the markets, and the Dow closed down 219.35 at 8,604.99. The Nasdaq fell 26.94 to close at 1,552.37, and the S&P 500 19.14 to 885.28. More»

Consumer confidence falls from last month

(NEWSER) - Stocks closed slightly lower today as falling crude prices and shares of energy firms weighed on the broader market, the Wall Street Journal reports. Exxon and Chevron both fell around 1% off a decline of $1.15 in crude oil prices, which stand at $67.32 a barrel. A new report also said consumer confidence dipped again. The Dow fell 12 points to close at 9,097. The Nasdaq gained 8 points, settling at 1,976, while the S&P 500 closed down 3 points at 980. More»

Low-volume session sees modest advances in energy, financials

(NEWSER) - Stocks enjoyed modest gains today as a jump in oil prices lifted energy firms, the Wall Street Journal reports. Crude futures rose $2.33, to $71.49 a barrel; Exxon shares gained 2.39%. Financials also saw advances, led by Sallie Mae, which jumped 8.2% on new government terms for student-loan pricing contracts. The Dow closed up 90.99 at 8,529.38. The Nasdaq rose 5.84, settling at 1,844.06, and the S&P 500 gained 8.33 to 927.23. More»