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December 3, 2008 1:28:05 PM CST


financial sector

financial sector news stories

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First Half of '08 Worst Ever for Hedge Funds

0.75% drop is a record for industry that's only reported 1 losing year

(Newser) - Hedge funds have fallen an average of 0.75% in the first half of 2008, the worst yearly start for the industry since Hedge Fund Research began collecting data in 1990. Even 2002, the only year on record in which the $1.9 trillion industry lost money, was sunnier. "Investors are showing less patience than before to live through the bad times," one analyst tells Bloomberg. More »

More about:  financial sector economic indicators hedge funds

ANALYSIS

 A Year On, 
 Credit Crisis
 Lingers 

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that fewer people can buy homes, Vikas Bajaj writes. Yesterday, the stock market finished its roughest 12 months since 2003. More »

More about:  stock market credit crisis subprime crisis Wall Street bank home prices home loans financial sector

MARKETS

 Faltering Banks 
 Push Stocks Down 

Financials tumble despite solid report from Goldman Sachs

(Newser) - The markets fell today, led by plunging financials and bank stocks, despite a solid second-quarter report from Goldman Sachs. "There is a lack of clarity at every level of the financial system right now, from regulators to companies," a floor trader told the Wall Street Journal . The Dow fell 108.78 to 12,160.30, the Nasdaq 17.05 to 2,457.73, and the S&P 500 9.21 to 1,350.93. More »

More about:  stock market inflation Goldman Sachs financial stocks financial sector

MARKETS

 Stocks Mixed as Oil Pulls Back 

Techs climb; yardsticks swing between red and black

(Newser) - Stocks ended mixed today as oil prices pulled back after hitting a high of nearly $140 a barrel. Investors are still concerned about economic instability, but many have already abandoned financials, reports the Wall Street Journal . The Dow ended down 38.27 at 12,269.08, the Nasdaq up 20.28 at 2,474.78, and the S&P 500 barely changed, rising 0.11 to 1,360.14 . More »

More about:  stock market oil price financial sector

MARKETS

 Stocks Up As Ugly Quarter Ends 

Markets gain for the first time in four days 

(Newser) - Stocks closed up today as the year's dismal first quarter came to an end. Lower oil prices, improved business activity and a favorable reaction to Treasury Secretary Henry Paulson's new regulation plan helped to boost the markets, Bloomberg reports. The Dow ended up 46.49 to 12,262.89, the Nasdaq rose 17.92 to 2,279.10, and the S&P 7.48 to 1,322.70. More »

More about:  stock market Federal Reserve financial sector

Stocks Edge Up on Mixed Day

Turmoil besets financial sector

(Newser) - The major indexes saw small gains today despite turmoil in the financial sector and skepticism about a positive jobs report.  The Dow climbed 27.23 points to 13,595.10, the Nasdaq added 15.55 to close at 2,810.38, and the S&P 500 gained 1.21 to 1,509.65. Merrill Lynch nosedived 10% on the Journal ’s report of hedge fund dealings meant to postpone revealing the extent of losses in mortgage-related securities. More »

More about:  Dow Jones S&P 500 Nasdaq Merrill Lynch Morgan Stanley job financial sector

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