Saturday, June 07, 2008
Breaking News: Hillary Clinton formally ends her presidential campaign
WASHINGTON - New York Sen. Hillary Rodham Clinton formally ended her
presidential campaign in the last event of her active candidacy at the
National Building Museum in Washington.
Friday, June 06, 2008
Markets Friday, 06/6/2008
| Dow : 12209.81 down 394.64
| S & P : 1360.68 down 43.37
| NASDAQ: 2474.56 down 75.38
| Bond (10Y): 3.91%, 99.66
MARKETS:
Dow tumbles 395 points on oil spike
The blue-chip indicator posts its biggest one-day point loss in 15
months, after crude prices see largest one-day advance ever and the
dollar slides.
U.S. stock indexes end with stiff losses on spike in oil prices
U.S. stock indexes end with stiff losses on spike in oil prices
U.S. stocks drop sharply after the government says the nation's jobless
rate in May soared to 5.5%, the highest since October 2004, and as the
price of crude-oil futures jumps atop $139 a barrel.
Economic Report: Jobless rate soars to 5.5% in largest jump since 1975
The U.S. unemployment rate jumps all the way to 5.5% in May, surprising
economists with the biggest increase in seasonally adjusted unemployment
in 33 years.
Futures Movers: Oil up almost $11 to mark its biggest daily dollar gain
on record
Oil prices shoot higher by almost $11 a barrel, scoring their biggest
one-day gain in dollar terms.
Icahn names a price for Yahoo; company says move 'ill-advised'
The proxy war between Yahoo and Carl Icahn escalates as the billionaire
investor publicly states a price that he believes the Web portal should
offer to Microsoft in exchange for a buyout deal.
Currencies: Jobless data shocker knocks greenback to its knees
The dollar extends losses against major counterparts Friday, after a
surprising rise in the jobless rate all but quashes hopes of a U.S.
interest rate hike this year.
A Wall Street whupping: Dow's 400-point plunge is year's biggest loss after weak jobs data and oil surge.
A Wall Street whupping: Dow's 400-point plunge is year's biggest loss
after weak jobs data and oil surge.
Dow plummets 350 points as oil surges to record $139.01 a barrel and dollar sinks.
Dow plummets 350 points as oil surges to record $139.01 a barrel and
dollar sinks.
Breaking New: Oil prices soar, Stocks tank
Oil prices have shot up more than $10 to a new record above $138 a
barrel. The news sent Wall Street into retreat with the Dow Jones down
more than 327 points just after 2:30.
Oil settles at a record $138.54 a barrel, up $10.75, on weak dollar and forecast that crude will hit $150 by July 4.
Oil settles at a record $138.54 a barrel, up $10.75, on weak dollar and
forecast that crude will hit $150 by July 4.
Stocks drop sharply as jobless rate and oil prices jump
Stocks drop sharply as jobless rate and oil prices jump
U.S. stocks drop sharply after the government says the nation's jobless
rate in May soared to 5.5%, the highest since October 2004, and as the
price of crude-oil futures shot to around $134 a barrel.
Economic Report: Jobless rate soars to 5.5% in largest jump since 1975
The U.S. unemployment rate jumps all the way to 5.5% in May, surprising
economists with the biggest increase in seasonally adjusted unemployment
in 33 years.
National City reportedly faces closer regulatory scrutiny
National City Corp.'s banking unit is facing closer scrutiny from
federal regulators after entering into a memorandum of understanding
that effectively puts the group on probation, according to a report.
Commodities Corner: Silver's more than a sparkle in investors' eyes
Silver has been notorious for moving in tandem with gold, but silver
prices have yet to trade anywhere near their record level.
Why the dollar still reigns in Chavez's Venezuela
While the U.S. dollar's reputation has taken a bruising in many of the
world's financial capitals, in Venezuela the fallen-from-fashion
greenback reigns supreme.
Crude futures jump, approaching $134 a barrel; U.S. stocks, dollar fall sharply
Crude futures jump, approaching $134 a barrel; U.S. stocks, dollar fall
sharply
6/6/2008 9:41:47 AM
U.S. jobless rate jumps to 5.5% as unemployment rises by 861,000
U.S. jobless rate jumps to 5.5% as unemployment rises by 861,000
6/6/2008 8:31:59 AM
Stocks fall at the open in reaction to a dismal government jobs report and a $6 super-spike in the price of crude.
Stocks fall at the open in reaction to a dismal government jobs report
and a $6 super-spike in the price of crude.
Thursday, June 05, 2008
Markets Thursday, 06/5/2008
| Dow : 12604.45 up 213.97
| S & P : 1404.05 up 26.85
| NASDAQ: 2549.94 up 46.80
| Bond (10Y): 4.04%, 98.66
MARKETS:
Big rally on Wall Street
Stocks rally despite oil surge as investors welcome better-than-expected
May retail sales, a drop in weekly jobless claims and Verizon-Alltel's
merger.
U.S. stock indexes snap losing streak with solid rally
U.S. stock indexes snap losing streak with solid rally
U.S. stocks reclaim higher ground after a three-day downward spiral,
after jobless claims drop more than forecast and Wal-Mart Stores Inc.'s
and Costco Wholesale Corp.'s same-store-sales results top expectations.
Crude futures end at a more than one-week high as the dollar sags
Crude-oil futures rally, tacking on more than $5 a barrel as traders
weigh concerns over decreasing U.S. demand for gasoline against a steep
decline in the dollar and three weeks of falling crude inventories.
Retailers report mixed, but mostly gloomy, May sales
May is a mixed bag for retailers, with skyrocketing fuel prices helping
some big warehouse chains post hefty increases in same-store sales while
traditional department stores and apparel outlets suffer.
Apple expected to debut newer, faster iPhone
When Steve Jobs talks, people listen. And when he doesn't talk, people
like to imagine what he will say.
Some Lehman counterparties limit trading with firm: analyst
Some of Lehman Brothers' counterparties are limiting trading with the
brokerage firm because of persistent concerns about its capital and
leverage and a recent credit rating downgrade, says an analyst at
Bernstein Research.
Stocks close higher, with the Dow gaining more than 200 points, after a surprise drop in jobless claims and a rise in retail sales.
Stocks close higher, with the Dow gaining more than 200 points, after a
surprise drop in jobless claims and a rise in retail sales.
Oil surges $5.49 to settle at $127.79 as dollar retreats after European Central Bank president says bank may hike interest rates.
Oil surges $5.49 to settle at $127.79 as dollar retreats after European
Central Bank president says bank may hike interest rates.
Net worth of U.S. households declined $1.7 trillion in the first quarter, 2nd straight drop after rising steadily since 2003.
Fed: Net worth of U.S. households declined $1.7 trillion in the first
quarter, 2nd straight drop after rising steadily since 2003.
U.S. stocks bounce solidly higher after jobless claims drop
U.S. stocks bounce solidly higher after jobless claims drop
U.S. stocks reclaim higher ground after a three-day spiral downward,
after jobless claims drop more than forecast and Wal-Mart Stores Inc.
and Costco Wholesale Corp.'s results top expectations.
Verizon to acquire Alltel in $28.1 billion deal
Verizon Wireless is in advanced talks to acquire closely held Alltel
Corp., a deal that could create the biggest U.S. wireless operator,
Vodafone Group said Thursday.
Continental to cut 3,000 jobs, reduce capacity as fuel costs soar
Continental intends to cut about 3,000 employees as the airline reduces
flights and capacity to offset record-high fuel prices.
Retail Stocks: May sales data boost retail stocks
Retailers get off to a rare good start early Thursday as the sector's
main indicator tacks on gains on some better-than-expected May
same-store sales results.
Mortgages in foreclosure jump again in first quarter: MBA
More homeowners headed toward foreclosure in the first quarter, with the
rate of foreclosure starts at levels not seen since 1979, according to
Mortgage Bankers Association data.
Over 1 million homes are in foreclosure, as loans in trouble hit levels not seen since 1979, says bank group.
Over 1 million homes are in foreclosure, as loans in trouble hit levels
not seen since 1979, says bank group.
Stocks rise at the open as Wall Street applauds positive retail sales reports, which were boosted by government stimulus money.
Stocks rise at the open as Wall Street applauds positive retail sales
reports, which were boosted by government stimulus money.
Wednesday, June 04, 2008
Markets Wednesday, 06/4/2008
| Dow : 12390.48 down 12.37
| S & P : 1377.20 down 0.45
| NASDAQ: 2503.14 up 22.66
| Bond (10Y): 3.98%, 99.13
MARKETS:
Stocks hobbled by renewed credit jitters
Credit concerns flare after Moody's puts bond insurers on negative
credit watch, eclipsing stronger economic data and falling oil prices.
U.S. stocks end mostly lower; Nasdaq claims positive turf
U.S. stocks end mostly lower; Nasdaq claims positive turf
U.S. stocks on Wednesday struggle and largely fail to retain gains after
Moody's threatens downgrades of two large bond insurers, darkening cheer
from data showing the service economy to be in better shape than
expected.
Lehman shares slip as broker reportedly seeks overseas capital
SAN FRANCISCO
Lehman Brothers may seek capital from overseas investors as the
brokerage firm tries to calm concerns about its leverage, exposure to
troubled mortgage-related assets and access to cash and other short-term
sources of money.
United Airlines cuts up to 1,600 jobs as it eyes higher fuel cost
United Airlines is cutting up to 1,600 jobs and removing older jets from
its fleet as the No. 2 U.S. carrier moves to reduce costs in the face of
a whopping $3 billion fuel bill and a slower economy.
European Central Bank to remain on hold, economists say
A pick-up in already strong inflationary pressures all but assures that
the European Central Bank's key interest rate will be left on hold when
its rate-setting policy council meets Thursday, economists said.
Economic Report: Private-sector jobs add 40,000 in May, ADP survey
shows
Companies in the U.S. private sector added 40,000 jobs in May, according
to a sampling of payrolls administered by Automatic Data Processing.
Data raise prospects for a better-than-anticipated reading for the
nation's payrolls when the Labor Department reports data on Friday.
Stocks end mixed in choppy trade after news that Moody's may lower ratings on Ambac and MBIA offset upbeat economic reports.
Stocks end mixed in choppy trade after news that Moody's may lower
ratings on Ambac and MBIA offset upbeat economic reports.
U.S. stocks solidify gains on service sector expansion
U.S. stocks solidify gains on service sector expansion
U.S. stocks post modest gains, with the Institute for Supply Management
reporting that service industries were in better shape in May than
expected.
Lehman shares slip as broker reportedly seeks overseas capital
SAN FRANCISCO
Lehman Brothers may seek capital from overseas investors as the
brokerage firm tries to calm concerns about its leverage, exposure to
troubled mortgage-related assets and access to cash and other short-term
sources of money.
United Airlines cuts up to 1,600 jobs as it eyes higher fuel cost
United Airlines is cutting up to 1,600 jobs and removing older jets from
its fleet as the No. 2 U.S. carrier moves to reduce costs in the face of
a whopping $3 billion fuel bill and a slower economy.
European Central Bank to remain on hold, economists say
A pick-up in already strong inflationary pressures all but assures that
the European Central Bank's key interest rate will be left on hold when
its rate-setting policy council meets Thursday, economists said.
Economic Report: Private-sector jobs add 40,000 in May, ADP survey
shows
Companies in the U.S. private sector added 40,000 jobs in May, according
to a sampling of payrolls administered by Automatic Data Processing.
Data raise prospects for a better-than-anticipated reading for the
nation's payrolls when the Labor Department reports data on Friday.
Oil prices fall after government report shows gasoline stockpiles rose more than expected and an unexpected crude supply decline.
Oil prices fall after government report shows gasoline stockpiles rose
more than expected and an unexpected crude supply decline.
Tuesday, June 03, 2008
News Alert! Obama Claims Victory
After delegate counts showed Barack Obama had secured enough delegates
to win the Democratic nomination, the Illinois senator declared victory
at a speech in Minnesota. "Tonight, I can stand before you and say that
I will be the Democratic nominee for president of the United States," he
said.
Breaking News Tue., June 3, 2008
SEN. BARACK OBAMA WILL HAVE ENOUGH DELEGATES TO CLINCH THE DEMOCRATIC
NOMINATION TONIGHT.
Marketsr Tuesday, 06/3/2008
| Dow : 12402.85 down 100.97
| S & P : 1377.65 down 8.02
| NASDAQ: 2480.48 down 11.05
| Bond (10Y): 3.89%, 99.81
MARKETS:
Stocks sustain losses
Investors consider falling oil prices, Bernanke's comments, factory
orders report, and news about GM and Lehman.
U.S. stocks end lower for second day, pressured by financials
U.S. stocks end lower for second day, pressured by financials
U.S. stocks extend losses with sentiment alternately buoyed by a
stronger-than-expected rise in factory orders but darkened by a report
that Lehman Brothers Holdings Inc. might have to raise additional
capital. .
Cars gain, but trucks push U.S. May sales sharply lower
Ford, GM and other auto makers deliver still more evidence of just how
brutal it has become to sell big trucks and SUVs in the face of
record-high gas prices and a slumping U.S. housing market.
GM to close four truck plants, shifting product mix toward cars
General Motors Chief Executive Rick Wagoner says the auto maker plans to
boost its product mix to 60% cars from 50%, with four plants that make
trucks slated to close.
Soros says commodity bubble echoes run-up to '87 crash
Celebrated investor George Soros says the investment flood into
commodity indexes bears eerie similarities to the craze for portfolio
insurance that led to the stock market crash of 1987.
The Fed: Fed's Bernanke defends the dollar, cites economic fallout
Breaking a long-standing tradition of relative silence on the dollar,
Fed Chairman Ben Bernanke signals discomfort with the ramifications for
the U.S. economy from the greenback staying weak.
AP reports Obama effectively clinches Democratic nod
WASHINGTON (AP) - Barack Obama effectively clinched the Democratic
presidential
nomination Tuesday, based on an Associated Press tally of convention
delegates,
becoming the first black candidate ever to lead his party into a fall
campaign
for the White House. The AP tally was based on public commitments from
delegates as well as more than a dozen private commitments. It also
included a minimum number of delegates Obama was guaranteed even if he
lost the final two primaries in South Dakota and Montana later in the
day.
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks maintain slight gains after the government reports a rise in
April factory orders, but the bid higher is curbed by a report that
Lehman Brothers Holdings Inc. might have to raise additional capital.
The Fed: Bernanke defends the dollar
Breaking a long-standing tradition of relative silence on the dollar,
Fed Chairman Ben Bernanke signals discomfort with the weak dollar's
ramifications for the domestic U.S. economy.
GM to close four truck plants, shifting product mix toward cars
General Motors Chief Executive Rick Wagoner says the auto maker plans to
boost its product mix to 60% cars from 50%, with four plants that make
trucks slated to close.
Lehman mulling capital raise as Wall Street firm faces loss
Lehman Brothers is facing its first quarterly loss since it went public
in 1994, and it's considering raising up to $4 billion from the sale
common stock, according to a report Tuesday.
Currencies: Dollar firms as Bernanke signals concerns
The dollar bounces firmly higher after Federal Reserve Chairman Ben
Bernanke signals discomfort over the weakness in the greenback.
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks maintain slight gains after the government reports a rise in
April factory orders, but the bid higher is curbed by a report that
Lehman Brothers Holdings Inc. might have to raise additional capital.
The Fed: Bernanke defends the dollar
Breaking a long-standing tradition of relative silence on the dollar,
Fed Chairman Ben Bernanke signals discomfort with the weak dollar's
ramifications for the domestic U.S. economy.
GM to close four truck plants, shifting product mix toward cars
General Motors Chief Executive Rick Wagoner says the auto maker plans to
boost its product mix to 60% cars from 50%, with four plants that make
trucks slated to close.
Lehman mulling capital raise as Wall Street firm faces loss
Lehman Brothers is facing its first quarterly loss since it went public
in 1994, and it's considering raising up to $4 billion from the sale
common stock, according to a report Tuesday.
Currencies: Dollar firms as Bernanke signals concerns
The dollar bounces firmly higher after Federal Reserve Chairman Ben
Bernanke signals discomfort over the weakness in the greenback.
Stocks inch up at the open as Wall St. reacts to Bernanke's economic outlook, lower oil prices and GM's plan to shut 4 truck plants.
Stocks inch up at the open as Wall St. reacts to Bernanke's economic
outlook, lower oil prices and GM's plan to shut 4 truck plants.
Financial markets 'remain strained,' high oil prices and housing woes threaten economic growth.
Fed chief Bernanke: Financial markets 'remain strained,' high oil prices
and housing woes threaten economic growth.
Monday, June 02, 2008
Markets Monday, 06/2/2008
| Dow : 12503.82 down 134.50
| S & P : 1385.67 down 14.71
| NASDAQ: 2491.53 down 31.13
| Bond (10Y): 3.96%, 99.28
MARKETS:
Stocks fumble on bank woes
Wall Street slides after a pair of financial firms announce management
shakeups, and S&P cuts debt rating for Merrill, Lehman and others.
U.S. stocks end sharply off on trouble in financial sector
U.S. stocks end sharply off on trouble in financial sector
U.S. stocks extend their first decline in five sessions as Standard &
Poor's cuts its debt ratings on three large brokerages, adding to
earlier losses stemming from upheavals at Wachovia Corp. and Washington
Mutual Inc.
The Fed: Too soon to breathe easy, Lockhart says
The president of the Federal Reserve Bank of Atlanta sounds some
reassuring notes on the outlook for the nation's economy.
Subprime mortgage mess claims another bank CEO
Ken Thompson, chief executive of Wachovia Corp., on Monday became the
latest CEO casualty of the U.S. housing downturn and related fallout
from the subprime mortgage crunch.
China Telecom pays $15.9 billion for Unicom's CDMA assets
China Telecommunications Group, China's largest fixed-line operator, has
agreed to pay the equivalent of $14.4 billion)to acquire the
CDMA-cellular-network assets of China Unicom Group, part of a sweeping
overhaul of the mainland's telecom industry.
Wind-energy leaders call on Washington for help
Wind-energy leaders meeting at the biggest-ever industry conference call
on the federal government to both extend federal tax credits and pave
the way for more grid infrastructure to help the United States tap into
this vast, clean form of power.
Stocks tumble as S&P cuts ratings on several financial firms and Wachovia and WaMu shake up their management.
Stocks tumble as S&P cuts ratings on several financial firms and
Wachovia and WaMu shake up their management.
Dow extends loss to 200 points on concerns about banks.
Dow extends loss to 200 points on concerns about banks.
U.S. stock losses mount as financial-sector shakeups take toll
U.S. stock losses mount as financial-sector shakeups take toll
U.S. stocks started lower on Monday ahead of U.S. manufacturing data
likely to illustrate another month of an industry slowdown, as a warning
from British lender Bradford & Bingley Plc revived worries about credit
losses.
China Telecom pays $15.9 billion for Unicom's CDMA assets
China Telecommunications Group, China's largest fixed-line operator, has
agreed to pay the equivalent of $14.4 billion)to acquire the
CDMA-cellular-network assets of China Unicom Group, part of a sweeping
overhaul of the mainland's telecom industry.
Subprime mortgage mess claims another bank CEO
Ken Thompson, chief executive of Wachovia Corp., on Monday became the
latest CEO casualty of the U.S. housing downturn and related fallout
from the subprime mortgage crunch.
U.K.'s Bradford & Bingley issues warning, scales back offer
Shares of Bradford & Bingley plummet in London, as the U.K. lender
scales back a planned issue of discounted stock and as its chief
executive steps down due to a health problem.
Dow industrials fall nearly 120 points early Monday
Dow industrials fall nearly 120 points early Monday
6/2/2008 10:13:06 AM
Manufacturing activity rose unexpectedly in May, but remained weak.
Manufacturing activity rose unexpectedly in May, but remained weak.
Stocks fall at the open as Wall Street despite falling oil prices, which are now well below their record highs.
Stocks fall at the open as Wall Street despite falling oil prices, which
are now well below their record highs.
