Ambac Financial

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Dow Rebounds, Gains 51

Modest September rally continues after Monday slump

(Newser) - Stocks today saw more of the small but steady gains that have marked an unusually strong September, the Wall Street Journal reports. After yesterday's pullback, financials, and particularly insurers, saw gains: MBIA rose 22.3%, and rival AMBAC Financial gained 15.2%. Oil pushed up $1.84 to $71.55... More »

Dow Plummets to Below 12,000

An oil boost and continued financial woes batter the markets

(Newser) - The markets tumbled today to lows not seen since the Bear Stearns fiasco in March, MarketWatch reports. Oil surged back over $135 a barrel, erasing yesterday’s meager gains, and bad news continued to depress financials. The Dow fell 220.40 to 11,842.69, the Nasdaq 55.87 to... More »

Stocks Again Stuck in Neutral

Conflicting news on financials hinders the market

(Newser) - The markets finished mixed today as fears over the financial sector clashed with positive economic reports. Moody’s said it may downgrade ratings for Ambac Financial and MBIA because of continued mortgage-related losses, MarketWatch reports, helping the Dow down 12.37 to 12,390.48. The Nasdaq gained 22.66,... More »

Financials, $108 Oil Sink Stocks

Crude shatters record price; recession fears prevail

(Newser) - US stocks fell today for a third consecutive day as fears of recession continued to spread, MarketWatch reports. With Ambac’s revival uncertain and Countrywide facing a possible securities fraud probe, shares of both financial giants plummeted, pressuring the overall market downward. The Dow lost 153.54 to close at... More »

Buffett Offers to Save Municipal Lenders

Stocks rally, but companies may rebuff opportunistic Hathaway

(Newser) - Warren Buffett rode to the rescue today, though the color of his horse is in question. The Sage of Omaha offered to reinsure $800 billion worth of municipal bonds, resolving “in one stroke of a pen” the jitters plaguing the municipal debt market. But his plan is also a... More »

Dow Plummets 306.95 Points

Manufacturing, home starts news send markets way down

(Newser) - The Dow plunged 306.95 points to 12.159.21 today, its third straight sell-off and worst loss of the new year, as rough numbers put investors in a bearish mood. The key index has now fallen more than 1,000 points since 2008 began. Merrill Lynch posted a huge... More »

Buffett Moves Into Insuring Muni Bonds

Company will aid local governments, profit from credit crunch

(Newser) - Billionaire Warren Buffett is riding to the rescue of the municipal bond market—and taking advantage of an opportunity afforded by the credit crunch—by launching a municipal bond insurer, reports the Wall Street Journal. Berkshire Hathaway Assurance, which opens today in New York state, should make it cheaper for... More »

Markets Dip on Bond News

Fed auction is deemed positive though

(Newser) - The market ended slightly lower after another rollercoaster day, as S&P’s downgrade of major bond insurers took a toll on stocks otherwise buoyed by reports of a positive auction by the Fed. The Dow was off 25.20 to 13,207.27 on news Ambac Financial and MBIA... More »

8 Stories