Tuesday, September 04, 2007
U.S. stocks end up after GM sales top forecasts
DJIA
13,448
+91.12
S&P
1,489
+15.43
NASDAQ
2,630
+33.88
10Yr
4.56%
+0.021
U.S. stocks end up after GM sales top forecasts
NEW YORK
Stocks closed higher Tuesday after Dow component General Motors Corp.
reported unexpectedly strong U.S. sales in August, with earlier data
doing nothing to shake the view the Federal Reserve would cut interest
rates in two weeks.
The Ratings Game: Merrill Lynch trims banks' profit estimates on
recession risk
BOSTON
Analysts at Merrill Lynch on Tuesday lowered their 2008 earnings
estimates and target prices for some of the nation's largest regional
banks as they expect a short-term rally inspired by Federal Reserve rate
cuts to fizzle out with credit fears stretching into next year.
August auto sales dodge economic slowdown
SAN FRANCISCO
A sluggish economy, volatile stock market and eroding consumer
confidence didn't dent U.S. auto sales nearly as badly as feared.
Futures Movers: Crude futures climb to a one-month high
SAN FRANCISCO
Crude-oil futures closed at a one-month high above $75 a barrel Tuesday,
with traders forced to wait an extra day for data on U.S. oil supplies,
key producers likely to stand pat on output and an updated forecast
renewing concerns over hurricanes in the Atlantic.