Stocks Seesaw as Credit Crisis Deepens

Dow returns to 11K-plus territory

(NEWSER) - As AIG's future became somewhat clearer, the wildly fluctuating markets settled into positive territory at the end of today's session. Rumors that the Fed will bail out the mega-insurer helped nearly erase a 74% decline, Bloomberg reports. The Dow closed up 141.51 at 11,059.02, the Nasdaq gained 22.45 to 2,202.36, and the S&P 500 rose 20.86 to 1,213.56. More»

Bear Stearns downgrade stirs more trouble as Dow loses 2%

(NEWSER) - After two straight days of gains and a steady morning the Dow plummeted in a selloff late this afternoon, losing 2% of its value to close at 13179.71, down 283.62. Bear Stearns lost big after Standard and Poors downgraded the subprime-laden i-bank from "stable" to "negative," stirring more worries over the deeply troubled credit market. Financial stocks followed expeditiously: Lehman brothers lost almost 8%. More»

Oil hits $71.2 a barrel, highest price in a month

(NEWSER) - Stocks rallied today on signs of a turnaround for US manufacturing, the Wall Street Journal reports. Oil rose $2.13, to $71.27 per barrel, its highest price in a month, and banks HSBC and Barclays reported strong quarterly earnings. The Dow closed up 114.95 to settle at 9,286.56. The Nasdaq added 30.11, settling at 2,008.61, and the S&P 500 rose 15.15 to close at 1,002.63. More»

Rally extends into 4th day on Roubini comments, tech optimism

(NEWSER) - Stocks gained today as the tech sector continued to inspire and economist Nouriel Roubini predicted a recovery in late 2009, the Wall Street Journal reports. Though the looming bankruptcy of CIT Group depressed stocks most of the day, financials were able to trim losses before the close. The Dow rose 95.61, closing at 8,711.82. The Nasdaq gained 22.13, settling at 1,885.03, and the S&P 500 added 8.06, to 940.74 More»

(NEWSER) - Stocks plummeted at today’s open after Standard & Poor’s warned it might downgrade the UK’s credit rating, the Wall Street Journal reports. The Dow tumbled 126 points, while the Nasdaq and S&P each fell more than 1%. Investors now fear other major economies, including the US, could face downgrades. Job data were mixed, with initial claims falling 12,000, but continuing claims climbing 75,000 to a record 6,662,000. More»