The Markets

Stocks in Asia had their best day in a month as investors reacted to the Fed's 75-point rate cut and a top Chinese company announced higher-than-expected earnings. The Nikkei climbed 2.5%, with financial stocks leading gains, reports Bloomberg. Companies with substantial business in America also did well—Canon jumped 6.3%, Nintendo 5%—as the dollar made its biggest gain against the yen in almost a decade, pushing back above ¥100. More »

Stocks blasted off today, with the Dow up more than 400 points after the Fed rate cut and a rally by investment bank stocks. "The run on the investment banks would appear to be over,'' a strategist told Bloomberg. The Dow ended up 420.41 at 12,392.66, the Nasdaq up 91.25 at 2,268.26, and the S&P 500 up 54.14 at 1,330.71. More »

Goldman Sachs has replaced its famously bullish chief forecaster, Abby Joseph Cohen,  with a less upbeat analyst, Bloomberg reports. Cohen will remain as senior investment strategist, handing over the daily predictions to David Kostin. Kostin sees a decline for the S&P 500 to 1160 in the short run, and a rebound to 1,380 by year's end. Cohen, by contrast, predicted in December that the index would reach 1,675 in 2008. More »

After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went public. But analysts, wary of giving vultures more reasons to circle, are watching what they say about the brokerage firm, Marketwatch reports. More »

Markets in Tokyo had an up day, recovering some of yesterday's major losses as investors speculated that Japan will stand firm in the face of an economic slowdown. Insurers led the gains on the Nikkei, which rose 1.5%. Other Asian bourses also did well Tuesday, but China was an exception, reports Bloomberg: on fears of an interest-rate cut, the Shanghai-Shenzhen CSI 300 index slumped 5.2% to an 8-month low. More »

Stocks seesawed throughout the day, finally ending today's session mixed, with the Dow closing up. The markets struggled to rebound from serious losses sustained after Bear Stearns' fire sale; buyer JPMorgan Chase's stock closed up 11%. The Dow ended up 21.16 at 11,972.25, the Nasdaq down 35.48 at 2,177.01, and the S&P 500 down 11.54 at 1,276.70. More »

Stocks steadied after steep early morning losses today, with the Dow actually rising 1.06 points by mid-morning, the Wall Street Journal reports. But financials were still down big, as the Bear Stearns fire sale loomed large over the market. Lehman Brothers, down 22%, was hit the worst, other than Bear itself, which nosedived 87%. Still, at $3.79, it remained stubbornly above its $2 buyout price. More »

The dollar took a pummeling and equity markets in Europe and Asia slumped as worried investors reacted to the Bear Stearns fire sale and the Fed's emergency rate cut. The dollar dropped to a shocking 95 yen, hit an all-time low of $1.59 against the euro, and remained below one Swiss franc. The US currency is "facing a credibility crisis," one Asian investor told Bloomberg, while another said that "the Fed is throwing the dollar out of the window." More »

News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65 to 11,951.09, the Nasdaq 51.12 to  2,212.49, and the S&P 500 27.34 to 1,288.14. More »

Stocks rallied in the afternoon to recover big early losses, buoyed by a prediction from Standard & Poors that the end was in sight for banks' subprime writedowns. The Dow—at one point down more than 230 points—finished up 35.5 points to close at 12,145.74, MarketWatch reports. The Nasdaq gained 19.74 points to end at 2,263.61, and the S&P 500 rose 6.7 points to 1,315.47. More »

Gold hit $1,000 per ounce for the first time today, the BBC reports, as investors flock to commodities. The precious metal is already up 20% on the year. “Every bit of bad US economic data boosts gold in two ways,” said Fortis Bank, both because gold is a “safe haven” asset and because the dollar drops on expectations of US interest-rate cuts. More »

Markets shot up early today, then flattened out and ended down as record oil and gas prices put a damper on things. Per-barrel oil prices hit $110.20 before landing at $109.92, the Wall Street Journal reports. The Dow ended down 46.57 to 12,110.24, the Nasdaq 11.89 to 2,243.87 and the S&P 11.88 to 1,308.77. More »

The Fed's plan to ease the credit crisis sent stocks roaring today; by the closing bell, the Dow was up by more than 400 points. Financials led the way, reports the Wall Street Journal, with massive gains by Citigroup and American Express. The Dow closed up 416.66 at 12,156.81, the Nasdaq up 86.42 at 2,255.76, and the S&P 500 up 47.28 at 1,320.65. More »

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 11,740.15, the Nasdaq dropped 43.15 to 2,169.34, and the S&P 500 fell 20.00 to 1,273.37. More »

The markets seesawed and ultimately saw losses today as news of a bank boost by the Fed couldn't outweigh the Labor Department's grim February jobs report. The Dow lost 146.70, closing at 11,893.69, and the S&P 500 fell 10.97 to 1,293.37. The Nasdaq enjoyed a stronger late rally and closed down 8.01 at 2,212.49. More »

Japan’s Nikkei fell 3.3% and Australia’s S&P/ASX2000 dropped 3.2% as woeful US economic news—including rising foreclosures, worsening homeowner debt and impending credit defaults—sent Asian markets reeling, the Associated Press reports. Investors also worried that a key jobs report to be released this morning would show a rise in US unemployment, which would further hurt already depressed Asian exports. More »

The markets fell sharply today as the dollar hit a fresh low against the euro, oil prices hit a fresh high, and more bleak news on the housing front came to light, MarketWatch reports. The Dow plummeted 214.6 points to settle at 12,040.39, its lowest level in 18 months. The Nasdaq fell 52.31 points to 2,220.50, and the S&P 500 dropped 29.36 to 1,304.34. More »

After an early rally, stocks fell after being hit with news on Ambac Financial's restructuring plan, but then regained some of the lost territory by the closing bell. Shares fell after Ambac said that instead of a bailout plan, it would raise money through a sell-off and restructuring, reports CNNMoney. The Dow ended up 41.19 to 12,254.99, the Nasdaq 12.53 to 2,272.81, and the S&P 6.95 to 1,333.7. More »

News of an impending bailout for bond insurer Ambac helped the markets recover from steep losses and end today's session down only slightly, MarketWatch reports. Down by 200 points at 2:30, the Dow closed only 45.10 down, ending at 12,213.80. The Nasdaq rose 1.68 to 2,260.28, and the S&P 500 lost 4.59 to close at 1,326.75. More »

Rising commodities prices partially offset bad news about manufacturing activity, the plunging dollar, and record crude oil prices to create a plateau on Wall Street today. The Dow ended down 7.49 at 12,258.90, the Nasdaq down 12.88 at 2,258.60, and the S&P 500 barely up, 0.71 to 1331.34. "There's not a single stitch of good news out there," an asset manager told Reuters. More »