stock market

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Dow Ends Down 173 After Huge Drop Earlier

Markets teeter amid bad global news

(Newser) - You know it's a bad day on Wall Street when the Dow closes down 173 points, and that's seen as relatively good news. The reason is that it was down more than 460 points shortly before 2pm before rebounding in the final two hours, reports TheStreet . The S&... More »

Don't Be Surprised if Stocks Drop 50%

Henry Blodget says we should at least be prepared for the possibility

(Newser) - The Dow tanked more than 300 points today, and the market in general has been "sputtering" of late, writes Henry Blodget at Business Insider . So are we on the brink of that correction everyone seems to be talking about? Blodget says that he, like everyone else who writes about... More »

Wall Street Freaks Over Portuguese Bank's Crisis

Banco Espirito Santo missis payment to creditors

(Newser) - The Dow plunged 153 points at the open this morning, reports the Wall Street Journal , as investors cast a worried eye toward Portugal and its second-largest lender. Banco Espirito Santo's shares plunged more than 17% before trading was halted on them, after its parent company revealed that it had... More »

FBI Wants to Know If Robots Are Trading Illegally

Feds think high-speed traders are acting on insider information

(Newser) - The FBI has a running investigation into high-speed trading , the controversial practice of using computers to automatically buy and sell stock within a fraction of a second. News of the probe comes hot on the heels of Michael Lewis' headline-making interview and book about the practice, but the investigation was... More »

Moneyball Author: US Stock Market Is Rigged

High-frequency trading enables big players to fix prices: Michael Lewis

(Newser) - The fix is in on Wall Street, and high-speed trading firms are reaping the rewards—at least according to Moneyball author Michael Lewis. Pitching his new book, Flash Boys: A Wall Street in Revolt, Lewis tells 60 Minutes that big firms beat smaller companies to the punch by thousandths or... More »

Why a Market Crash Might Not Be Far Away

Henry Blodget sees stocks '40% overvalued'

(Newser) - The stock market may be looking healthy lately, but don't be deceived, writes Henry Blodget at Business Insider : We could be en route to another crash. "Every valid valuation measure I look at suggests that stocks are at least 40% overvalued and, therefore, are likely to produce lousy... More »

Twitter Explodes in IPO

Stock flirts with $50 price tag in early trading

(Newser) - If you were worried that Twitter's stock market debut would be like Facebook's, worry no longer. Twitter exploded out of the gate this morning, at times trading as much as 74% higher than its IPO price, the AP reports. As of 11:05am, the stock was just a... More »

Gung-Ho Investors Snap Up Tweeter, Not Twitter, Stock

And, oh, did we mention Tweeter is bankrupt?

(Newser) - Who doesn’t want to make a quick buck? With the announcement Thursday that Twitter was going public, some investors didn’t do their research. Twitter disclosed its initial public offering would come under the ticker "TWTR." Tweeter Home Entertainment Group’s long-defunct ticker is "TWTRQ,"... More »

Icahn Drives Apple Stock 5% With a Single Tweet

Now Carl Icahn is pushing for a $150 billion buyback

(Newser) - "We currently have a large position in APPLE," activist investor Carl Icahn tweeted yesterday. "We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come." That was enough to send Apple stocks soaring up 5%, closing yesterday at $489.57. But... More »

Facebook Stock Nears a Milestone

It surges 30%, inches closer to IPO price

(Newser) - Don't look now, but Facebook is thisclose to erasing the year-plus embarrassment of having a stock price below its IPO price. Shares boomed about 30% today to close at $34.36, getting within striking distance of the $38 IPO mark, reports MarketWatch . In fact, this is Facebook's best... More »

Saudi Arabia Gets a New Weekend

Aligns working week with fellow Gulf states with Friday-Saturday move

(Newser) - A notable change for working Saudi Arabians: The weekend will now come a day later. Its people had enjoyed a Thursday-Friday weekend, but Oman's recent switch to Friday-Saturday made Saudi Arabia the odd man out among the six-nation Gulf Cooperation Council. The change to a Friday weekend start, described... More »

Dow Plummets 266: Market's Worst Day in 5 Months

China's growth rate starts off a bad day

(Newser) - The stock market suffered its worst loss in five months today as China posted lower-than-expected growth and the Boston Marathon bombing added a late wave of anxiety, TheStreet and Wall Street Journal report.The Dow Jones Industrial Average sank 266 points, gold fell by 9.4%, and the S&P... More »

Meet the Best Investor No One's Ever Heard Of

Mark Mulholland's mutual fund is built on scripture—and a little help from Apple

(Newser) - One of the top mutual funds in the country is built on faith. That's faith in a higher power—it's not called the Matthew 25 Fund for nothing—and also faith that its assets would recover from a 2008 low of $22 million, down from $115 million. Well,... More »

Dow Passes All-Time High

Stocks soar at open after positive report from China

(Newser) - The Dow Jones Industrial Average reached its highest level ever just after the opening bell this morning, thanks in part to China's pronouncement that it would be maintaining its growth target. As of 9:51, the Dow was up 103 points, to 14,231. Its previous high, set in... More »

Dow Cracks 14,000

Psychological threshold passed for first time since 2007

(Newser) - The Dow Jones Industrial Average hit a major psychological milestone today, cracking 14,000 for the first time since the financial crisis, CNBC reports. The move lasted only for a moment—seconds later it had pulled back below the threshold—but the Dow is still trading more than 100 points... More »

Mystery Exodus: $114B Withdrawn From Banks in Jan.

Fed data shows post-9/11 record

(Newser) - The country's biggest banks have seen $114 billion leave their coffers this month, with withdrawals in the first full week of the year hitting a post-9/11 record, according to Fed data. Seasonal adjustment cuts the figure to $52.8 billion, which remains the third-highest ever recorded. Bloomberg is trying... More »

Cat Picks Better Stocks Than Money Managers

Feline's portfolio rises by 4.2%

(Newser) - Investors, it's kitty-cat time: A contest that pitted stock-picking professionals against finance students and a cat named Orlando wrapped up last month—and Orlando won, the Guardian reports. Starting last January, each team invested an imaginary sum worth about $7,900 and was allowed to swap any stocks every... More »

GM to Buy Back 200M Shares From Treasury

Move could speed up US exit from company

(Newser) - General Motors will spend $5.5 billion to buy back 200 million of its own stock from the US government in the next two weeks, accelerating Uncle Sam's exit from the automaker, the company announced today. GM will pay $27.50 a share, a 7.9% premium on yesterday'... More »

Pot-Machine Maker: Dudes, Stop Buying Our Stock

Medbox shares soar 3,000% after story

(Newser) - Need more evidence that marijuana is going mainstream? A company that makes pot-dispensing machines had to put out a news release today asking investors to chill, reports MarketWatch . Shares of Medbox were selling at $4 on Monday but jumped to $215 yesterday—a staggering 3,000% increase—because the company... More »

Is It Doomsday for Facebook Shares?

804M shares held by ex-employees could flood the market

(Newser) - Wall Street's keeping a nervous eye on Facebook shares this morning, which could be in for a really rough day—even by Facebook's standards. Restrictions lift today on 804 million shares held by former employees, meaning the supply of potential shares for sale is about to double, Bloomberg... More »

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