Stocks Dive on Jobs Report

(NEWSER) - Stocks ran out of gas at the open today, as investors digested a grim jobs report. The Dow and S&P were essentially flat, the Wall Street Journal reports, while the Nasdaq inched higher, on strong earnings from Research in Motion. The BlackBerry maker posted a 26% gain in earnings and was rewarded with a more than 21% share jump. The Labor Department’s latest report showed unemployment at a 25-year-high. More»

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.

Unemployment report fuels rally

(NEWSER) - Good news about the labor market fueled a rally in stocks today, the Wall Street Journal reports. Slowing declines in payrolls and a 0.1% drop in unemployment—both figures beat expectations—elevated investor sentiment. AIG jumped 22.2% after reporting a $1.8 billion quarterly profit. The Dow gained 113.81 points to close at 9,370.07. The Nasdaq rose 27.09 to 2,000.25, and the S&P 500 added 13.40 to close at 1,010.48. More»

(NEWSER) - Stocks tumbled at the open today after a worse-than-expected drop in June payroll figures, the Wall Street Journal reports. The Dow sunk 135 points, while the Nasdaq and S&P fell 1.8% and 1.6%, respectively. The economy shed 467,000 non-farm jobs in June; economists had predicted a loss of 350,000. “Jobs are usually a lagging indicator,” said one researcher. “But this time, they’re almost a leading indicator. This is a consumer led recession.” More»