Stocks Climb on ADP Report

522K lost last month, fewer than analysts predicted

(NEWSER) - Stocks were mixed at today’s open after a report estimating that 522,000 private-sector jobs were lost last month, the Wall Street Journal notes. The Dow started down but was recently up 41 points, while the S&P 500 and Nasdaq were marginally higher. Dragging on the Dow were ugly earnings reports from Walt Disney and Kraft Foods, off 6.6% and 9.1%, respectively More»

Dow dives 110 on heels of big declines overseas

(NEWSER) - US stocks fell at today’s open, tracking big declines overseas, the Wall Street Journal reports. The Dow was off 110 points, while the S&P and Nasdaq fell 1.2% and 0.9% respectively. Among the big losers were Bank of America, down 7%, and Citigroup, down 6.5%, as investors looked for more clarity on a federal “bad bank” plan. More»

(NEWSER) - Stocks skyrocketed at today's open, spurred by reports that the Obama administration would likely form a “bad bank” to buy up illiquid assets. The Dow jumped 110 points, and the S&P and Nasdaq gained 1.9% and 1.8% respectively. Banking stocks led the way, with Citigroup leaping 20% and Bank of America 18%. Wells Fargo threw more fuel on the bulls’ fire, maintaining its dividend despite a $2.55 billion quarterly loss. More»

(NEWSER) - Markets rebounded this morning, as a new round of federal aid rained down on Bank of America and Citigroup, the Wall Street Journal reports. The Dow rose 112 points, while the S&P and Nasdaq added 1.5% and 1.3% respectively. Bank of America posted a $1.79 billion loss, while Citi lost a stunning $8.29 billion, but shares of the banks rose 2% and 6% respectively, on news that the government would guarantee losses on $400 billion worth of assets More»

Investors see bad news everywhere in new data

(NEWSER) - Stocks dropped at the open today as a surprisingly good JPMorgan quarter struggled to offset other negative economic news, the Wall Street Journal reports. The Dow was off 108, despite Morgan's 4% surge, as Bank of America plummeted 15% after reports it would need more aid to close the Merrill Lynch deal. The Nasdaq was down 0.9%, the S&P 500 off 1.3%. More»