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BUSINESS
May 16, 2010 | By Walter Hamilton, Los Angeles Times
The cramped computer room in an office building overlooking the Harbor Freeway can't match the color and tradition of the New York Stock Exchange. No traders, opening bell or operatic din. Just floor-to-ceiling racks of Dell and Hewlett-Packard computers spitting out a monotonous drone. The only people passing through are janitors and the occasional programmer or electrician. But while the NYSE remains the cynosure of the global markets, much of the world's stock trading emanates from drab computer rooms such as this one in downtown Los Angeles, or in outposts such as Kansas City, Mo., or Jersey City, N.J. These are the epicenters of high-frequency trading, a breed of lightning-fast computerized trading that dominates today's stock market, but which critics say carries risks for investors and for the market itself.
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BUSINESS
May 15, 2010 | By Nathaniel Popper
For 15 minutes last week, the New York Stock Exchange was bustling like it was 1999. There was shouting and jostling. A few traders found themselves picking up the clunky black phones that had been relegated years before to serving as historical set pieces. The cause of all the excitement was the mysterious "flash crash" that sent the Dow Jones industrial average plunging 700 points in a matter of minutes, prompting the Big Board to stop its computers from automatically executing trades and forcing human traders to step into the breach.
BUSINESS
May 9, 2010 | Michael Hiltzik
So much for the biggest, safest, most liquid securities market in the world. Of course we're talking about the U.S. equities market, which used to be described in those glowing terms. But now, after Thursday's trading debacle, the market looks more like a casino — and not just any casino, but one of those smelly joints with sawdust on the floor, ripped felt on the blackjack tables and loaded dice. I've been inside casinos like that. I wouldn't think of laying a 10-cent bet with the dealer.
NATIONAL
March 15, 2010 | By Tina Susman
KISS guitarist Paul Stanley fluffed his thick, shaggy hair as bassist Gene Simmons fidgeted in the background, their eyes looped in black makeup, faces painted chalky white. As the seconds counted down to 4 p.m., Stanley leaned on the green button in front of him. "Clang, clang, clang!" went the bell as the clock struck the top of the hour. Flap, flap, flap went Simmons' famous tongue, stretching to the tip of his chin and back again. "Bang!" went the gavel, which Stanley brought down with a thud.
BUSINESS
March 9, 2010 | By Walter Hamilton
Is it safe to drive off in an auto stock? The automobile sector has endured a rough ride in the last two years. First, sales fell off a cliff during the recession. Then, as the car business appeared on track to a recovery, Toyota Motor Corp. -- perhaps the industry's strongest player -- was hit by a barrage of trouble over complaints of unintended acceleration. The sector's emerging rebound spells potential opportunity for investors, but stock analysts advise them to navigate carefully.
BUSINESS
February 9, 2010 | Tom Petruno
Stock investors are facing the biggest test of their staying power since Wall Street's rally began nearly a year ago. Share prices slumped again Monday, driving the Dow Jones industrials below the 10,000 level for the first time since November, as investors pulled back amid worries about Europe's government debt crisis and the U.S. economic recovery. The Dow, which has fallen for four straight weeks, lost 103.84 points, or 1%, to 9,908.39, its lowest close since Nov. 4. Traders said there was no rush for the exits Monday, but rather that potential buyers largely remained sidelined amid Europe's financial tensions and nagging questions about the U.S. economy's health.
BUSINESS
November 5, 2009 | Associated Press
NEW YORK -- Investors rushed into stocks after stronger reports on service industries and employment eased two of the biggest worries about the economy. The Dow Jones industrial average rose more than 125 points after the Institute for Supply Management said service industry activity grew for a second straight month in October. The trade group's service index slipped to 50.6 from 50.9 in September. A reading above 50 signals growth. Analysts polled by Thomson Reuters had expected a 51.5.
BUSINESS
November 3, 2009 | Associated Press
NEW YORK -- Stocks are snapping back from Friday's big losses as stronger-than-expected reports on manufacturing and housing ease investors' concerns about how durable the economic recovery will be. Major indexes rose more than 0.5 percent in midday trading Monday, including the Dow Jones industrials, which jumped about 80 points after tumbling 250 points on Friday. Investors also scooped up commodities like oil and gold as they moved out of safe-haven assets like the dollar and Treasurys.
BUSINESS
August 11, 2009 | Associated Press
NEW YORK -- With the stock market in a bit of a news lull, investors weren't making any big moves. Stocks fell today in absence of any major corporate or economic developments. Investors are also cautious ahead of earnings reports from major retailers and a two-day meeting of the Federal Reserve on interest rates that starts Tuesday. The day's modest action wasn't surprising after major indicators jumped 1 percent last week, including a surge Friday in response to the government's stronger-than-expected jobs report.
BUSINESS
December 30, 2008 | times wire reports
Fleetwood Enterprises Inc., the motor-home maker that lost more than 98% of its market value this year, will be suspended from the New York Stock Exchange for failing to comply with exchange requirements. Fleetwood doesn't plan to appeal the exchange's decision to suspend the company's stock, which will occur before the start of regular trading next week, said Kathy Munson, a spokeswoman for the Riverside company. The company said Oct. 30 that it received notification from the NYSE that it was not in compliance with the average listing price of $1 a share over a consecutive 30-day trading period.
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