No, It's a Terrific Time to Panic

(NEWSER) - It's good news, bad news time for investors. The good news: In the last 100 years, only five other rallies have matched the 46% leap the Dow’s taken over the past six months. The bad news: None of those other extraordinary rallies, which came in the 1930s and 1970s, held, the Wall Street Journal reports. Like the current rally, those historical rallies came after big—in fact, even bigger—declines. While some lasted as long as two years, the big gains were all in the first six months. More»

Oil hits $71.2 a barrel, highest price in a month

(NEWSER) - Stocks rallied today on signs of a turnaround for US manufacturing, the Wall Street Journal reports. Oil rose $2.13, to $71.27 per barrel, its highest price in a month, and banks HSBC and Barclays reported strong quarterly earnings. The Dow closed up 114.95 to settle at 9,286.56. The Nasdaq added 30.11, settling at 2,008.61, and the S&P 500 rose 15.15 to close at 1,002.63. More»

Roubini predicts end to recession, sends markets jumping

(NEWSER) - The financial crisis is over and the worst of the recession is behind us, writes Nouriel Roubini, the extremely pessimistic economist who was among the few who predicted the scale of the downturn. "The light at the end of the tunnel is for once not an incoming train," he told investors at a lecture yesterday in New York. But with unemployment in the US nearing 10%, Roubini thinks a second stimulus is necessary. More»

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»

Overhauls drive firms off Industrial Average, says editor

(NEWSER) - General Motors and Citigroup are losing their spots on the Dow Jones Industrial Average after GM filed for bankruptcy, MarketWatch reports. Replacing them are Cisco Systems and The Travelers Companies. “A bankruptcy filing immediately disqualifies a stock regardless of a company's history or its role as a cultural icon,” said Dow Jones’ editor-in-chief. More»