Stories related to: stock market

Stocks were way up today—the Dow by over 300 points—buoyed by hopes for a Fed interest-rate cut, good news from beleaguered financials, and a stronger dollar. Remarks by Vice Chairman Donald Kohn led investors to believe the Fed is still considering a cut, the Wall Street Journal reports. By the bell, the Dow was up 331.01 to 13,,289.45, the Nasdaq 82.11 to 2,662.91, and the S&P 40.79 to 1,469.02. More »

Credit worries wiped out the market's bounce from Black Friday today as the Dow plunged well over 200 points. The financial sector led the dive. "Until the financials bounce back the market's not going to be in a great place," one trader tells the Wall Street Journal . The Dow was down 237.44 to 12,743.44, the Nasdaq 55.61 to 2,540.99, and the S&P 500 33.48 to 1,407.22. More »

Stocks rose in an abbreviated session today, cutting losses for the week as early-bird Christmas shopping gave reason for optimism. "The fact that Black Friday is not a disaster and is off to a modest but healthy start is just a relief,'' one analyst told Bloomberg. The Dow closed up 181.84 at 12,980.88, the Nasdaq up 34.45 at 2,596.60, and the S&P 500 at 1,440.70, up 23.93. More »

Worries over the credit market's effect on the broader economy resurfaced in a big way today as stocks sank, swamped by yesterday's newly glum growth forecast from the Federal Reserve. Other economic data released today were similarly bleak. "The index of leading indicators was a pretty lousy number," says a bank exec. The Dow was down 211.10 to 12,799.04, the Nasdaq 34.66 to 2,562.15, and the S&P 22.93 to 1,416.77. More »

Stocks nosed up today after rallying, plunging, then rallying again. Freddie Mac and Fannie Mae reported big losses and pushed the markets downward, but stocks made up some lost ground with a good sales report from Hewlett Packard and a UBS upgrade for Exxon. The Dow was up 51.70 to 13,010.14, the Nasdaq up 3.43 to 2,596.81, and the S&P 500 up 6.43 to 1,439.70. More »

Stocks fell today—the Dow by more than 200 points—after a Goldman analyst downgraded Citigroup to "sell" in the morning, setting off a skid. The same analyst lowered target prices on Merrill Lynch, Morgan Stanley, and several other stocks, which fell by over 2%, the Journal reports. The Dow was down 218.35 to 12,958.44, the Nasdaq 43.86 to 2,593.38, and the S&P 500 25.47 to 1,433.27. More »

Stocks were down for a second consecutive session today on bad tidings from Wells Fargo, JC Penney, and Exxon Mobil. Mortgage giant Wells called the housing market the worst since the Depression; Exxon fell after a surprise decrease in oil prices. The Dow was down 120.96 to 13,110.05, the Nasdaq 25.81 to 2,618.51, and the S&P off 19.43 to 1,451.15. More »

Stocks wavered throughout today's session, finally falling well into the red before the bell. Despite relatively good news from the financial sector—including a hopeful outlook from Bear Stearns—surging oil prices and profit-taking in the tech sector brought the markets down. The Dow was off 83.16 to 13,223.93, the Nasdaq 29.33 to 2,644.32, and the S&P 10.46 to 1470.58. More »

The Dow shot up by nearly 320 today, ending 4 days of declines as the markets bounced back in a rally led by financial stocks. A drop in oil prices helped, as did the announcement that Apple was planning to sell its iPhone in China, reports Bloomberg. The Dow surged 319.54 to 13,307.09, the Nasdaq was up 89.52 to 2673.65, and the S&P 500 gained 1.86 to 1481.04. More »

Renewed anxiety over the US sub-prime crisis and Friday's Wall Street slump ignited a stock dump in Asian markets today, hammering the Japanese Topix index to a two-year low and sending the dollar’s value against the yen to its lowest point in 18 months. Hong Kong’s Hang Sang index in Hong Kong, was down 3.9%, and South Korea’s Kospi index fell 3.4%, the New York Times reports. More »

Visa is moving ahead on a massive initial public stock offering expected early next year. Papers filed yesterday show that shares could be valued at $10 billion, which would make it the second-largest public offering in US history, the Wall Street Journal reports. The biggest is the $10.62 billion IPO by AT&T Wireless in 2000. More »

Technology concerns led a second consecutive down session on Wall Street today. Stocks headed south as Cisco Systems reported slowing demand and Federal Reserve chief Ben Bernanke told Congress the economy will "slow noticeably" in the fourth quarter, and  continue to be hobbled by the housing crisis into the new year. The Dow was down 33.73 to 13,266.29, the Nasdaq 52.76 to 2,696.00, and the S&P 0.85 to 1,474.77. More »

Stocks plummeted again today as investors remembered just how scary the credit crunch is. Financials led the fall, and the Dow was down 360. "Negative news that was overlooked and ignored yesterday" was back today, one manager told the Wall Street Journal . The Dow finished off 360.92 to 13,300.02, the Nasdaq 76.42 to 2,748.76 and the S&P 44.65 to 1,475.62. More »

Stocks closed up today, buoyed by surging oil and gold prices. Oil hit $97 a barrel, and gold is at a 27-year high, Bloomberg reports. Energy and metals producers, including Exxon Mobil and Newmont Mining—the world's second-largest gold-mining company—led the rally. The Dow was up 117.54 to 13,660.94, the Nasdaq 30.00 to 2,825.18, and the S&P 500 18.10 to 1,520.27. More »

Stocks closed down today after Citigroup announced $11 billion more in mortgage-related writedowns, reports Bloomberg. Early heavy losses reversed later in the session as investors calmed down, reports CNNMoney, but none of the major indexes moved into positive territory. The Dow was down 51.7 to 13,543.4, the Nasdaq 15.2 to 2,795.18, and the S&P 500 7.48 to 1,502.17. More »

Stocks turned sharply downward today—including a 362-point plunge by the Dow—on concerns over yesterday's Fed rate cut and bad news from Exxon Mobil and Citigroup. The cut led to "nervousness that there's another shoe to drop," a analyst told the Wall Street Journal . The Dow was down 362.14 to 13567.87, the Nasdaq off 64.29 to 2794.83, and the S&P fell 40.94 to 1508.44. More »

Stock fell sharply at the opening today, wiping out yesterday's rally spurred by the Fed's rate cut. The Dow was down by over 250 points in early trading, spurred by several bits of bad news, including an Exxon earnings plunge and a Citigroup downgrade. But the Wall Street Journal speculates that traders also had time to think about why the Fed thought a rate cut was needed. "The market's reflecting nervousness that there's another shoe to drop in the financial sector," says one trader. More »

High investor expectations for Google's wireless and social networking businesses to equal its online advertising success pushed the search giant’s share price past $700 yesterday, reports the Wall Street Journal . Google’s stock has gained more than $100 since Oct. 8, and it is now one of the five most valuable US companies. More »

Stocks rose today on the heels of the Fed's quarter-point cut of a key interest rate and good news about the GDP. "The Fed may be done here," a Boston strategist told Bloomberg. "We don't need them anymore, and the market is taking consolation in that." The Dow was up 137.54 to 13,930.01, the Nasdaq 42.41 to 2,859.12, and the S&P 18.36 to 1,549.38. More »

Stocks closed down today as confidence that the Fed will cut interest rates tomorrow faded. The Journal reported that policymakers are considering no cut at all, meaning borrowing costs may stay high. The Dow slipped 77.79 to 13,792.47, the S&P 500 was down 9.96 to 1,531.02, and the Nasdaq fell 0.73 to 2,816.71. More »