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Dow Surges by 304

Industrial and energy stocks lead the charge

(Newser) - US stocks are closing sharply higher, led by big gains in industrial and energy stocks. The rally Monday gave the Standard & Poor's 500 its fifth daily gain in a row. General Electric led the industrial sector higher, gaining 5%, after activist investor Nelson Peltz bought a stake in... More »

US Stocks Take a Bad Fall

Worries about China's economy keep growing

(Newser) - The stock market had its worst drop in nearly a month as investors worried about more signs of weakness in China's economy. The Dow Jones industrial average dropped 312 points, or 1.9%, to 16,001 Monday. The Standard & Poor's 500 index sank 49 points, or 2.... More »

Dow Jumps 125 in Rebound

But drugmakers slump on concerns of regulations

(Newser) - US stocks are closing higher as investors try to look beyond the uncertain timing of a possible interest rate increase by the Federal Reserve. The Dow Jones industrial average closed up 125 points, or 0.8%, to 16,510 today. The Standard & Poor's 500 index rose eight points,... More »

Dow Dips 62 on China News

Only two days until the Fed decides on interest rates

(Newser) - The US stock market is closing slightly lower as traders hold back ahead of a much-anticipated Federal Reserve meeting later this week. More signs of slowing economic growth in China weighed on prices for copper and other commodities today. That sent prices for materials stocks lower. Energy stocks fell along... More »

Oil Soars, Dow Tumbles 115

Stocks fall broadly except in energy shares

(Newser) - The stock market is closing out its worst month in more than three years on a down note. Stocks fell broadly in today's trading, with the exception of energy shares, which reversed an early slump after the price of crude oil surged. The Standard & Poor's 500 index... More »

Company With 1 Worker Sees 25K% Stock Surge

But the SEC clamps down on Cynk

(Newser) - Too good to be true? A company with just one employee, no assets, and no revenue saw its penny stocks rocket to a $6 billion valuation this summer—enough for the SEC to shut down its trading and launch an investigation, the Wall Street Journal reports. The company, Cynk, runs... More »

Fraudster Cheats Alan Grayson Out of $18M

William Chapman sentenced to 12 years in scheme

(Newser) - Florida Democratic Rep. Alan Grayson —one of the richest people in Congress—was a victim of fraud that cost him $18 million, court documents show. On Friday, William Dean Chapman was sentenced to 12 years in prison over the scheme, which cost 120 investors some $35 million. After investors... More »

Dow Hits 16K for First Time

And S&P is trading above 1.8K

(Newser) - The Dow Jones Industrial Average crossed the 16,000 threshold this morning for the first time, with Boeing—bolstered by hefty 777X orders at the Dubai Airshow yesterday—acting as one of the day's biggest movers, reports the AP . The S&P 500, meanwhile, was trading above 1,800;... 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 »

Google Shares Break $1K

At a high of $1,007.40 after strong Q3 results

(Newser) - Google "big milestones" and this story should show up: Google's stock soared to its highest price today, breaking the $1,000 mark for the first time. (Today's peak thus far has been $1,007.40 per share.) That squashes the previous July peak of $928, CNN... 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 »

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 »

More Bad News From Daily-Deals World

LivingSocial to lay off 400, Grouponers may want CEO ousted

(Newser) - Things still aren't so cheery in daily-deals land, with two of the biggest players in the space—Groupon and LivingSocial—taking a hit in the press after taking a hit in the wallet. The latest:
  • LivingSocial will announce today that it's cutting almost 9% of its staff, sources
... More »

Apple Shares Hit $700 for First Time

Company now worth $656B

(Newser) - Apple's stock has reached $700 for the first time, once again setting a record for the company the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours . The shares hit as high as $701.44 in morning trading today, up... More »

Apple: Most Valuable Company Ever

Surging stock puts company value at $624B

(Newser) - Apple is Wall Street's all-time MVP—that's Most Valuable Property. Today, Apple's surging stock propelled the company's value to $624 billion, the world's highest, ever. It beat the record for market capitalization set by Microsoft Corp in the heady days of the Internet boom. After... More »

Twitter Introduces the $Cashtag

Move angers StockTwits

(Newser) - Hashtags got a baby brother last night when Twitter rolled out a new feature allowing users to create clickable stock symbols by prefacing them with a dollar sign, an innovation people are already calling the "cashtag." If you were tweeting about Apple, for instance, you could include "... More »

Nasdaq: We Owe Industry Apology Over Facebook IPO

It's offering clients $40 million to cover losses

(Newser) - Nasdaq is offering $40 million in cash and rebates to its clients to make up for the glitches during the Facebook IPO, reports Reuters . One problem: Total claims by firms who lost money because of the technical snafus could reach $150 million to $200 million, say two senior finance execs.... More »

Zuckerberg's Hoodie: Gleeful Snub to Wall Street?

One analyst thinks it's a 'mark of immaturity'

(Newser) - On the first day of Facebook's IPO roadshow yesterday, Mark Zuckerberg showed up to a meeting with potential investors wearing a hoodie—a wardrobe choice that one Wall Street analyst says is a glaring "mark of immaturity," reports Bloomberg . "He’s actually showing investors he doesn’... More »

Facebook Employees Dreaming of IPO Christmas

Rumor mill heats up that company is going public soon

(Newser) - Here come the Facebook IPO rumors again. An insider tells Business Insider that employees expect the company to go public soon, possibly next month. "The IPO talk inside Facebook has ramped up the past 6 weeks and Zuckerberg repeatedly has said that it is 'coming,' which he... More »

Stocks Open Down on Gloomy Germany News

Dow down 105 points at open

(Newser) - Germany is bringing everyone down with it this morning: Stocks opened lower at the bell on news that Germany's GDP grew just 0.1% in Q2, sharply down from estimates of 0.5%. The Dow is down 105 points to 11,378, and the Nasdaq and S&P 500... More »

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