September 20, 2013 |
Five years ago, this week, the world of finance and economics changed forever. At least that's the story. It started with a sad milestone in Wall Street history: the fall of the House of Lehman. Between Sept. 13 and Sept. 20, 2008, Lehman Bros., the legendary 158-year-old Wall Street firm, wobbled, stumbled and finally ceased to exist. In the conventional narrative, the failure of Lehman and the equally storied trading outfit Bear Stearns was part of an epic, once-in-a-generation meltdown in which global financial markets collapsed simultaneously in ways that nobody could have possibly foreseen.
September 10, 2013 |
NEW YORK - The stock market's all-star team has some new players. Leaving the Dow Jones industrial average is aluminum giant Alcoa Inc., computer-maker Hewlett-Packard Co. and financial behemoth Bank of America Corp. Joining the index of 30 blue-chip companies are investment bank Goldman Sachs Group Inc., payments company Visa Inc. and apparel giant Nike. The big switch happens Sept. 23. "Symbolically it's a big deal," said Jeffrey Hirsch, editor in chief of the Stock & Commodity Trader's Almanacs.
August 31, 2013 |
The stock market finished its worst month in more than a year, with the specter of military action in Syria and reduced stimulus from the Federal Reserve weighing on share prices. The Dow Jones industrial average and other major indexes suffered their biggest declines since May 2012 as investors stepped away from the powerful yearlong rally. The Dow dropped 4.4% in August, while the Standard & Poor's 500 gave up 3.1%. Stocks have a lot going their way. The U.S. economy expanded at a stronger-than-expected 2.5% clip in the second quarter.
August 23, 2013 |
NEW YORK - Investors shook off the after-effects of the Nasdaq Stock Market's three-hour outage, which rattled investor confidence in high-speed electronic trading, and spurred the major indexes to a second straight day of gains Friday. Nasdaq's technical snafu, dubbed a flash freeze, renewed fears of Wall Street technology run amok, but investor worries seemed to ebb. On Friday, Robert Greifeld, chief executive of the exchange's parent company, Nasdaq OMX Group Inc., defended the company's response and declared the exchange "came back successfully" from Thursday's outage.
August 15, 2013 |
NEW YORK --Stocks fell sharply as investors digested an upbeat report on the labor market but weak signals from retail giant Wal-Mart. Major U.S. indexes slumped more than 1.3% in early trading on Wall Street. The Dow Jones industrial average fell 223.24 points, or 1.46%, to 15,114.42. So far this month, the Dow is off 2.4%. The broader Standard & Poor's 500 index dropped 23.65 points, or 1.4%, to 1,661.74. The technology-heavy Nasdaq composite index slid 59.49 points, or 1.62%, to 3,609.78.
August 9, 2013 |
NEW YORK - The stock market's longest weekly winning streak in a year came to an end as summer doldrums set in on Wall Street. Major U.S. indexes closed moderately lower Friday, with the Dow Jones industrial average sagging 72.81 points, or nearly 0.5%, to 15,425.51. For the week, the Dow and other indexes finished down about 1%, ending a string of six straight weekly gains. Some analysts saw the pullback as a temporary lull amid minimal economic data. Trading volume was especially light as money managers started their annual August getaways.
July 12, 2013 |
The stock market has returned to normal. Share prices are back at record highs -- and small investors are selling. After pouring into U.S. stock mutual funds early in the year, individuals have been net sellers in four of the last five months, according to data from the Investment Company Institute, a fund industry trade group. To put it indelicately, the proverbial dumb money has been rushing out of the market just as share prices have been racing up. The Dow Jones industrial average and Standard & Poor's 500 index hit record highs Thursday on hope that U.S. economic growth is picking up. The Dow is giving back a bit Friday.
July 11, 2013 |
The stock market is back at new highs thanks to comforting words from Federal Reserve chief Ben S. Bernanke. The Dow Jones industrial average and the Standard & Poor's 500 index both surged into new high ground Thursday as investors celebrated the clearest sign yet that the Fed will maintain its easy-money policies. The Dow vaulted 169.26 points, or 1.1%, to 15,460.92, capping an impressive comeback over the last two weeks after a nearly 5% dip the previous four weeks. The S&P 500 rose 22.41 points, or 1.4%, to 1,675.
June 21, 2013 |
This year's dizzying stock market rally was halted with the biggest one-day plunge of the year. The Dow Jones industrial average slumped almost 354 points Thursday amid fears that the economy will slow now that the Federal Reserve has signaled it will end its aggressive economic stimulus programs. Investors yanked $500 billion from the stock market during the brutal trading session, wiping out two months' worth of market gains. Though the blue-chip index is still up 15% from a year earlier, analysts have begun to question whether this week's sell-off could portend a deeper problem for investors.
June 19, 2013 |
NEW YORK -- Stocks fell sharply after the Federal Reserve's statement and Chairman Ben Bernanke's news conference Wednesday, with major U.S. indexes losing more than 1%. The Dow Jones industrial average tumbled 206.04 points, or 1.35%, to 15,112.19 at the closing bell on Wall Street. The broader Standard & Poor's 500 index shed 22.88 points, or 1.39%, or 1,628.93. The tech-heavy Nasdaq lost 38.98 points, or 1.12%, to 3,443.20. Bernanke reiterated the Fed's position that it would continue its monetary stimulus programs until the economy meets certain inflation and employment thresholds.