Wednesday, October 24, 2007
Stocks end with minimal losses after late-day rebound
DJIA
13,675
-0.98
S&P
1,515
-3.71
NASDAQ
2,774
-24.50
10Yr
4.33%
-0.074
Stocks end with minimal losses after late-day rebound
NEW YORK
U.S. stocks rebounded late Wednesday, with Merrill Lynch & Co.'s
larger-than-anticipated losses and negative news on the housing front
cementing thoughts of another rate cut at next week's Federal Open
Market Committee gathering.
Capitol Report: Roots of credit crisis found at the Fed's door, says
expert
WASHINGTON
In the wake of the financial market turmoil that arose over the summer
and even now threatens to push the U.S. into recession, there has been a
remarkable lack of finger-pointing so far over the cause of the crisis.
Economic Report: When will housing hit bottom?
WASHINGTON
The housing market is just getting worse. Home resales tumbled 8% in
September to the lowest levels in this decade, prompting the obvious
question: When will it all end?
Street raises bets on Amazon despite sell-off
SAN FRANCISCO
Despite a sell-off that deflated some of the air in Amazon.com's balloon
on Wednesday, several Wall Street brokers are effectively upping their
bets on the stock.
Merrill Lynch shares tumble as write-downs balloon
NEW YORK
Merrill Lynch, the nation's largest broker, on Tuesday reported its
first loss in about six years, saying bad judgment and weak risk
management strategies forced it to write down almost $8 billion of
mortgage and related assets, well above its own previous estimate.
