June 6, 1990 |
Bank and savings and loan stocks have made liars and fools out of more analysts than Wall Street will ever care to admit. So when the stocks turn hot--as they have in recent weeks--it's cause for a lot of suspicion. Is this a real, sustainable surge for these battered issues, or is it just another brief trading rally? The spark for the rally has been the slide in market interest rates since late April.
October 27, 1995 |
U.S. stocks suffered their biggest one-day decline in more than three months Thursday as concern grew that the Federal Reserve Board won't lower interest rates soon, corporate earnings growth might slow and the Mexican economy may deteriorate further. At one point, the Dow Jones industrial average plummeted 85.99 points, its worst one-day decline since July 19, before recovering to close at 4,703.82, down 49.86 points, or 1.05%.
March 15, 1996 |
Stocks climbed in heavy trading Thursday after fresh government data, countering reports last week, suggested inflation is under control. While the Dow Jones industrial average closed up 17.34 points at 5,586.06, it had been up more than 60 points at one point Thursday. Philip Morris stock fell sharply for the second day amid uncertainty surrounding tobacco litigation. Without the Philip Morris decline of 5 1/2 to 92 1/2, the Dow would have ended the day at nearly 16 points higher.
December 8, 1995 |
The stock market suffered a relatively mild wave of profit taking Thursday as bond yields rose ahead of today's November employment report. After three consecutive record closes, the Dow Jones industrial average slumped 39.74 points to 5,159.39, its biggest one-day point drop in six weeks. In the broad market, losers outnumbered winners 16 to 9 on the New York Stock Exchange. But trading volume was 381 million shares, well below the levels of the last seven sessions.
September 14, 2010 |
The U.S. banking industry breathed a sigh of relief Monday after international regulators proposed new rules dictating how much capital financial institutions must hold. Most American banks appear to already have more than enough capital to meet the new minimums spelled out in the so-called Basel III accord. The agreement, announced Sunday after being hammered out in the Swiss town of Basel, is aimed at helping prevent future financial crises and bank bailouts. Financial stocks shot up Monday on word that the new requirements would be phased in over a longer period than expected.
October 20, 2007 |
Wall Street suffered a broad-based rout Friday, taking key stock indexes back to where they were before the Federal Reserve's Sept. 18 interest rate cut. Fresh concerns about the economy's health sent all 10 major industry groups in the Standard & Poor's 500 lower, with 481 of the index's issues declining. The S&P index sank 39.45 points, or 2.6%, to 1,500.63. The Dow Jones industrials lost 366.94 points, or 2.6%, to 13,522.02. The Nasdaq composite index slid 74.15, or 2.7%, to 2,725.16.