Soaring Jobless Claims Leave Stocks Flat

All major indexes are in negative territory for the year

(NEWSER) - The only good thing to say about today's stock market is that it's finally over. The Dow fell a staggering 513 points, or 4.3%, to close at 11,384. It's the worst point drop since December 2008 and the worst percentage drop since February 2009, reports MarketWatch . The S&P 500 plunged 60, or nearly 5%, and NASDAQ dropped 137, about 5%. All three major indexes are now in the red for the year. More»

Jobless numbers, metals sector spark wide rally

(NEWSER) - The major stock exchanges hit highs for the year today as traders reacted positively to news that new jobless claims grew less than projected. Health care was the only sector showing broad losses, a reaction to the Senate's passage of the health care bill, the Wall Street Journal reports.

• The Dow climbed 53.66 points to end the abbreviated session at 10,520.10.
• The Nasdaq picked up 16.05, closing at 2,285.6.
• The S&P 500 gained 5.89 to wrap up at 1,126.48.

Rally extends into 4th day on Roubini comments, tech optimism

(NEWSER) - Stocks gained today as the tech sector continued to inspire and economist Nouriel Roubini predicted a recovery in late 2009, the Wall Street Journal reports. Though the looming bankruptcy of CIT Group depressed stocks most of the day, financials were able to trim losses before the close. The Dow rose 95.61, closing at 8,711.82. The Nasdaq gained 22.13, settling at 1,885.03, and the S&P 500 added 8.06, to 940.74 More»

(NEWSER) - Stocks inched higher this morning as investors chewed on retailer and jobs data. The Dow added 17 points while the Nasdaq and S&P rose 9.03 and 3.17 points respectively. Jobless claims took a rare step in the right direction last week, with ongoing claims dropping for the first time since January. Retailers also released some disappointing same-store sales numbers: Both Limited Brands and Costco reported 7% dips. More»

(NEWSER) - Stocks crept slightly higher today, with the Dow up 22 points and the Nasdaq and S&P up 10.42 and 2.48 respectively. Wal-Mart gained 1% on an earnings report precisely in line with expectations, and Kohl’s better-than-expected number sent it up 2%. But any optimism was offset by a 32,000 jump in jobless claims. A record 6.56 million are now drawing unemployment benefits. More»