April 20, 1990 |
Investors in bank, S&L and insurance stocks seem to be trying to tell us where they think that the economy is going. Better hope that they're dead wrong. The financial stocks as a group continue to perform miserably. The New York Stock Exchange index of financial issues closed Thursday at 139.28, down 1.01 points. Year to date, the index has fallen 11%. In contrast, the composite index of all NYSE stocks is down just 5%.
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.
October 26, 1995 |
Blue chips closed sharply lower Wednesday as nervous investors sold some market favorites to lock in profits, and financial stocks were hit hard by jitters over consumer credit problems. The Dow Jones industrial average ended with a loss of 29.98 points at 4,753.68 in a brisk retreat from the previous session's 28-point rally. In the broader market, declining issues swamped advances 1,515 to 796 on heavy volume of 433 million shares on the New York Stock Exchange.
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.
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 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.
February 25, 2009 |
Soothing words from Federal Reserve chief Ben S. Bernanke helped the stock market rebound Tuesday from a plunge to 11-year lows, but investors worried that the rally could be only a short-lived bounce. By telling Congress that policymakers did not plan to nationalize banks, Bernanke relieved at least temporarily a swirling fear that the government could assume control of major institutions.
February 16, 2012 |
Here's one of Wall Street's unexpected gainers on Thursday's big rally: financial stocks. The Standard & Poor's 500 financials sector, which tracks the nation's biggest banks, was the second-best performer on the day. Only stocks in the materials sector had a better showing as the S&P 500 climbed more than 1% What makes that odd? Well, just hours before the stock market opened for business in New York, Moody's Investors Service had some pretty disparaging things to say about banks in general.