Dow Sees Biggest Gain in 5 Years Before Fed Meeting

(NEWSER) - Stocks dipped today on worse-than-expected information about consumer sentiment, the Wall Street Journal reports. A Reuters index dropped 3 points instead of the anticipated 2-point rise. A downward spiral has been evident since the Fed announced it would not raise interest rates Wednesday. “A day like today has been long overdue,” said an observer. The Dow was off 76.79 and closed 9,321.40. The S&P sank 8.64 to 1,004.09, and the Nasdaq lost 23.83 to end at 1,985.52. More»

(NEWSER) - Markets were mixed today as positive economic indicators and surging tech stocks battled with a Fed announcement that interest rates would be held near zero, the Wall Street Journal reports. The Dow lost early momentum, but the Nasdaq flourished. “We’ve basically come through a panic phase,” an analyst said of tech buying. The Dow was off 23.05 to 8,299.86. The S&P rose 5.84 to 900.94. And the Nasdaq gained 27.42 to 1,792.34. More»

(NEWSER) - Markets fell today after the Federal Reserve warned of a more prolonged recession than it previously expected, the Wall Street Journal reports. Financials and tech contributed to the plunge, which even a 6-month high in oil prices could not stop. “We’re just dealing with a stock market that was defying gravity,” a broker said. The Dow was off 52.81 to 8,422.04. The S&P fell 4.66 to 903.47. The Nasdaq lost 6.70, ending at 1,727.84. More»

(NEWSER) - Stocks took a turn for the worse at the open today, heading south after yesterday’s rally. The Dow fell 67 points, while the S&P declined 0.8%. The Nasdaq fell 0.5%, but component Sun Microsystems soared 65% on news IBM might acquire it. Investors are anxiously awaiting guidance out of today's Fed meeting, even though the target rate’s unlikely to move. The consumer price index rose 0.4% last month, a bigger-than-expected jump. More»

Commercial paper plan breeds cautious optimism

(NEWSER) - Stocks rose at the opening bell today, buoyed by the Fed’s dramatic promise to intervene in the commercial paper market. The Dow rose 79 points at the open, as the Nasdaq and S&P rose 1.1% and 0.8% respectively, the Wall Street Journal reports. Investors also believe the Fed, ECB, and BoE may join forces for a coordinated, international rate cut. More»