Dow Up 57 on Housing Data

(NEWSER) - Markets were off today on plunges in the energy and manufacturing sectors brought on by falling oil prices, the Wall Street Journal reports. A poorly received auction of T-notes also did little to inspire confidence. The world’s largest steelmaker, ArcelorMittal, slipped 7% on a larger than expected loss, and the tech sector took a hit on Microsoft’s deal with Yahoo. The Dow fell 26 to 9,070.72, the S&P shed 4.49 to end at 975.13, and Nasdaq lost 7.75 to finish at 1,967.76. More»

(NEWSER) - Markets rallied today on positive news from the retail and housing sectors, the Wall Street Journal reports. Major builders saw stocks go up as much as 15%, leading some to predict an end to the crisis in the housing market. In retail, meanwhile, companies such as Bed Bath and Beyond and Best Buy benefited from the bankruptcies of competitors. The Dow was up 172.54 to 8,472.40. The S&P gained 19.33 to end at 920.27. And NASDAQ tacked on 37.20 to finish at 1,829.54. More»

(NEWSER) - Reports of greater-than-expected US oil reserves sent crude prices and markets tumbling today, the Wall Street Journal notes. The manufacturing sector fell, and the Dow’s energy component was off 4.1%. “People are looking at the inventory report today as a really good chance to take some money off the table,” a broker said. The Dow was off 64.67 to 8,676.20. The S&P lost 12.92 to end at 931.82. And the Nasdaq shed 10.88 to 1,825.92. More»

(NEWSER) - Good news from the housing sector outweighed bank troubles today for Wall Street, the Journal reports. Manufacturer Alcoa tacked on 6%, and a housing-industry group said sales in April made the biggest jump in 8 years. Financials fell after more banks announced plans to pay back TARP loans through stock offerings. The Dow was up 19.43 to 8.740.87. The S&P gained 1.91, ending at 944.78. And the Nasdaq rose 8.12 to 1,836.80. More»

(NEWSER) - Stocks surged today on positive data about personal income, manufacturing, and the long-awaited announcement of General Motors’ bankruptcy. “There is a positive, relief reaction to this filing,” one analyst told the Wall Street Journal. “It’s been hanging over all of our heads.” Energy and construction stocks also saw big bumps. The Dow was up 221.11 to 8,721.44. The S&P gained 23.73, ending at 942.87. And the Nasdaq rose 54.35 to 1,828.68. More»