Stocks Slide Ahead of Earnings

Big gains for major banks ahead of earnings reports

(NEWSER) - Stocks staged a broad rally today as financials soared ahead of earnings reports, the Wall Street Journal reports. Bank of America surged 9%, while Citigroup and JP Morgan Chase rose 6.9%. General Electric, which will also report its second-quarter earnings this week, rose 6.1%. The Dow closed up 185.16 at 8,331.68. The Nasdaq added 37.18 to 1,793.21, and the S&P 500 rose 21.92, settling at 901.05. More»

(NEWSER) - Swine flu fears, and negative reports about the banks left investors feeling ill this morning. The Dow fell 65 points, while Nasdaq fell 0.8% and the S&P 0.9%. Bank of America and Citigroup were headed south, down 7.5% and 6.2% respectively on reports that they’d need to raise capital following poor stress test showings. Airlines were also lower. Overseas, swine flu fears pushed the Nikkei down 2.7%. More»

Dow falls 289 on financial uncertainty

(NEWSER) - Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute shareholder value. The Dow lost 289.60 to close at 7,841.73. The Nasdaq shed 64.86, to 1,608.21, and the S&P 500 lost 37.21 to 832.39. More»

(NEWSER) - More bankruptcy rumblings from General Motors sent stocks down early today, but the blow was cushioned by good news from the financial sector, the Wall Street Journal reports. Citi and Bank of America had double-digit gains ahead of what are expected to be solid earnings reports. The Dow finished down 25.57 at 8,057.81; the Nasdaq rose 0.77, to 1,653.31; and the S&P 500 gained 2.17 to 858.73. More»

(NEWSER) - Stocks sprinted out of the gates today, the Wall Street Journal reports, spurred by the Treasury’s long-awaited toxic asset plan. The Dow was up 316 just after noon, while the Nasdaq and S&P 500 added 4.1% and 4.5%, respectively. Banking stocks were the biggest winners, with Citigroup up 24%, and Bank of America up 15%. The gains follow similar moves overseas, with several Asian indexes surged 3% or more. More»