Dow Drops 67, Sinks Below 10,000, on IBM, BoA Reports

Indices all up at least 7% for the week

(NEWSER) - Stocks were generally flat today as investors stepped back from a 4-day rally. IBM boosted the Dow, rising 4.3% after reporting strong quarterly profits, the Wall Street Journal reports. GE and Bank of America both trended lower after reporting declining earnings. Housing data showed home construction rose in June, contrary to forecasts. The Dow closed up 32.12 points at 8,743.94. The Nasdaq gained 1.58 to close at 1,886.61, while the S&P 500 sank just 0.36 to 940.38. More»

S&P falls back below 1,000

(NEWSER) - Stocks fell today as investors took profits after the recent rally, the Wall Street Journal reports. Traders characterized the market as “on pause” ahead of a Fed statement on interest rates due tomorrow. Bank of America and GE led the Dow lower with 4.4% and 3.6% declines, respectively. The Dow fell 97 points to close at 9,241. The Nasdaq lost 23 points, settling at 1,970, and the S&P 500 fell shed 13 points to close at 994. More»

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»

Dow, S&P 500 now negative for 2009

(NEWSER) - A global rout in materials and energy stocks combined with a sell-off in financials to wreak havoc on US markets today, the Wall Street Journal reports. The Dow closed down 200.72 at 8,339.01. The Nasdaq lost 61.28, closing at 1,766.19, and the S&P 500 dropped 28.19 to close at 893.04. The Dow is now down 1.1% for the year, while the S&P is off 5%. More»

(NEWSER) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell 33, after a downgrade from Cisco and a report that the Sun takeover deal was in jeopardy. More»