August 21, 2008 |
Share prices scored a moderate gain after a volatile session Wednesday in which the major stock indexes and the price of oil jumped in and out of positive territory. Concerns about mortgage financiers Fannie Mae and Freddie Mac initially dragged down financial stocks. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity. Fannie Mae fell $1.61, or 27%, to $4.40, while Freddie Mac fell 92 cents, or 22%, to $3.25.
August 22, 2008 |
Stocks finished mixed Thursday after investors largely shrugged off a jump in oil prices and a bullish analyst report limited losses on financial stocks. Crude futures shot up $5.62 to $121.18 as commodities in general rallied, boosted in part by a decline in the dollar. The CRB commodity index climbed 3.7%. Oil's advance sent airline stocks tumbling but pushed energy shares up. The Dow Jones industrial average rose 12.78 points, or 0.1%, to 11,430.21. The Standard & Poor's 500 index rose 3.18 points, or 0.2%, to 1,277.
November 11, 2008 |
Stocks closed lower Monday after initial enthusiasm about a $586-billion Chinese stimulus package fizzled and investors succumbed to anxieties about how U.S. companies would survive a severe pullback in spending. There was little news Monday to placate investors concerned about U.S. corporate health. American International Group got more money from the federal government, but Detroit's struggling automakers have yet to hear whether they, too, will get aid.
May 11, 2012 |
NEW YORK - Stocks dropped right out of the gate following JPMorgan & Chase Co.'s stunning disclosure that the bank lost $2 billion in “egregious” trading losses. The Dow Jones industrial average was down 25 points, or 0.2%, to 12,830 shortly after the opening bell. The broader Standard & Poor's 500 index was down 4 points, or 0.3%, to 1,355. The benchmark index for U.S. equity markets was dragged down by financial stocks, which were down 1.8%. Bank stocks were down 3.3%.
September 30, 2008 |
Let's hope this isn't telling us that the next bull market will be in soup kitchens. The only stock to rise in the Standard & Poor's 500 index on Monday was . . . Campbell Soup Co., which edged up 12 cents to $37.75. At times like this, investors often find refuge in stocks of companies that make the basic, low-priced things we need to live. The reasoning is that even if the markets are melting down, and the economy will soon follow, we all still gotta eat, drink and (hopefully) use deodorant.
September 17, 2008 |
Wall Street ended another tumultuous session with a sizable gain Tuesday, partly recovering from its worst sell-off in years after the Federal Reserve said it was keeping interest rates steady. Anticipation that troubled insurer American International Group would come up with a much-needed cash injection made room for many financial stocks to rally. Meanwhile, the Fed's decision not to change interest rates, while not popular with investors clamoring for a rate cut to boost market sentiment, appeared to sidestep the second-guessing about the health of the economy that can follow a cut in difficult times.
September 15, 1999 |
Stocks finished broadly lower Tuesday on continuing jitters over interest rates and the dollar. The Dow industrials slid 120 points, or 1.1%, to 10,910.33, and losers swamped winners by 21 to 8 on the New York Stock Exchange in moderate trading. Financial stocks were particularly weak. The Standard & Poor's financial index slumped 1.8%. But the Nasdaq composite, after diving on Monday, snapped back with a gain of 0.8% as major semiconductor stocks surged.
August 29, 2008 |
Stocks barreled higher Thursday after a better-than-expected reading on the gross domestic product gave investors some reassurance that the economy was holding up. The Dow Jones industrial average jumped more than 200 points. But the rally may have been exaggerated by light trading volume, typical for the week before Labor Day. Financial stocks surged after a deal between two bond insurers boosted hopes that the credit markets were beginning to right itself. A decline in oil prices also appeared to benefit stock prices.
February 11, 2009 |
A revamped financial rescue plan unveiled Tuesday by the Obama administration landed with a thud on Wall Street, sending the Dow Jones industrial average down almost 400 points to its lowest level since November. Financial stocks were hit the hardest as investors vented frustration at the dearth of specifics in a speech by Treasury Secretary Timothy F. Geithner.
April 15, 2009 |
Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report deflated somewhat the market's optimism about the economy. The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs Group, leading the Dow Jones industrial average down 137.63 points, or 1.7% to 7,920.18. Broader measures also lost ground after three days of gains. The Standard & Poor's 500 index slumped 17.