Market Rallies After Fed Rollercoaster

Investors predict payroll gains for March

(NEWSER) - Gains in financial stocks kept the markets afloat today. Both AIG and Citigroup closed up, in part because of a successful offering of $2 billion in trust preferred securities, the Wall Street Journal reports.

• The Dow gained 2.95 points to close at 10,567.33.
• The Nasdaq added 18.27 to settle at 2,358.95.
• The S&P 500 rose 5.17, closing at 1,145.61.

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.

Indices all post solid gains for the week

(NEWSER) - Stocks posted gains today, closing out a strong week as consumer stocks saw advances, the Wall Street Journal reports. Procter & Gamble gained 3.21% after Citigroup upgraded the firm’s shares to “buy.” Optimism about a recovery in consumer spending drove Starbucks up 3.64%, with PepsiCo and Philip Morris also gaining about 1%. The Dow added 36.28 points to close at 9,820.20. The Nasdaq rose 6.11, settling at 2,132.86, and the S&P 500 gained 2.81to close at 1,068.30. More»

Fear of Sept. stock pullback drives gold to 6-month high

(NEWSER) - Stocks jumped today on the strength of blue-chip financials after mostly idling. Volume was low as investors waited for the government’s monthly employment report, due tomorrow, the Wall Street Journal reports. AIG and Citigroup rose, while safe-haven buying pushed gold to almost to $1,000 an ounce, a level not seen since February. The Dow rose 63.94 points to close at 9,344.61. The Nasdaq added 16.13 to close at 1,983.20, and the S&P 500 rose 8.49 to settle at 1,003.24. 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»