Friday, August 29, 2008
Markets Friday, 08/29/2008
| Dow : 11543.55 down 171.63
| S & P : 1282.83 down 17.85
| NASDAQ: 2367.52 down 44.12
| Bond (10Y): 3.85%, 101.22
MARKETS:
Friday flameout on Wall Street
Stocks slumped at the end of a positive month and ahead of a long
holiday weekend. Dell earnings, a plunge in personal income and
Hurricane Gustav jitters were in focus.
U.S. stocks positioned for weekly losses and monthly gains
U.S. stocks positioned for weekly losses and monthly gains
U.S. stocks decline Friday, with the indexes poised for monthly gains
and weekly losses, with a July drop in personal income, a rise in oil
prices and a worse quarter than forecast for Dell supporting a bearish
view ahead of the long weekend.
Gustav strengthens into Category 1 hurricane
Gustav regains hurricane strength Friday afternoon as it sets its sights
on the Cayman Islands and traders eye the storm's projected path toward
the Gulf of Mexico.
Futures Movers: Oil, natural-gas futures close lower on storm
uncertainty
Crude and natural-gas futures close lower for the session and the month,
but both finish the week with a slight gain as traders gauged Hurricane
Gustav's potential to damage energy infrastructure in the Gulf of Mexico
during the holiday weekend.
The Ratings Game: Analyst sticks with Lehman buy rating
One of the more candid analysts tracking Wall Street is sticking with
his buy rating on Lehman Brothers, saying the firm will either tackle
the challenges it confronts, or face a hostile takeover.
Dell's quality of sales called into question over price cuts
With a combination of cost cuts and expansion into retail and consumer
markets, Dell Inc. has been carefully working on turning its business
around after several years of disappointing performance. But on Friday,
the PC maker learned just how thin its margin of error was.
Stocks tumble as investors mull Dell's weaker-than-expected earnings and a big drop in personal income.
Stocks tumble as investors mull Dell's weaker-than-expected earnings and
a big drop in personal income.
U.S. stocks weakened by oil's rise, economic data
U.S. stocks weakened by oil's rise, economic data
U.S. stocks declined at Friday's start, with investor sentiment weakened
by July declines in both consumer spending and personal income, with
Dell Inc.'s worse-than-forecast quarter and a rise in oil prices adding
to a bearish view.
Tropical Storm Gustav heads for the Cayman Islands
Tropical Storm Gustav sets its sights on the Cayman Islands late Friday
morning, as energy traders eye its projected path toward the Gulf of
Mexico.
Futures Movers: Oil futures rally more than 2% on storm concerns
Crude-oil futures trade nearly 2% higher, gaining support from ongoing
concerns that Tropical Storm Gustav holds the potential to damage
critical energy infrastructure in the Gulf of Mexico.
The Ratings Game: Analyst sticks with Lehman buy rating
One of the more candid analysts tracking Wall Street is sticking with
his buy rating on Lehman Brothers, saying the firm will either tackle
the challenges it confronts, or face a hostile takeover.
Dell shares slump as earnings disappoint
Investors showed their displeasure with Dell Inc. Friday, sending the
personal-computer giant's shares down more than 12% in the wake of the
PC maker's disappointing earnings report for the second quarter.
Personal income falls .7% in July on tightening economy - more than expected. Consumer spending rises by .2%.
Personal income falls .7% in July on tightening economy - more than
expected. Consumer spending rises by .2%.
U.S. personal incomes and spending decline
U.S. personal incomes and spending decline
8/29/2008 8:35:49 AM
Breaking News: AP reports Alaska governor tapped as VP pick, McCain officials says
DENVER - John McCain tapped little-known Alaska Gov. Sarah Palin to be
his vice presidential running mate, two senior campaign officials told
The Associated Press on Friday.
Oil up more than $3 as Tropical Storm Gustav approaches Gulf of Mexico.
Oil up more than $3 as Tropical Storm Gustav approaches Gulf of Mexico.
Fw: Oil up more than $3 as Tropical Storm Gustav approaches Gulf of Mexico.
Oil up more than $3 as Tropical Storm Gustav approaches Gulf of Mexico.
Stocks sink as sharply rising oil prices and weak income and spending report put pressure on the markets.
Stocks sink as sharply rising oil prices and weak income and spending
report put pressure on the markets.
Thursday, August 28, 2008
Markets Thursday, 08/28/2008
| Dow : 11715.18 up 212.67
| S & P : 1300.68 up 19.02
| NASDAQ: 2411.64 up 29.18
| Bond (10Y): 3.78%, 101.78
MARKETS:
Big rally on Wall Street
A surprisingly strong revision to second-quarter economic growth gives
stocks a boost. Oil prices turn lower as worries about impact of Gustav
disruption ease.
Tropical Storm Gustav nears hurricane strength
Tropical Storm Gustav nears hurricane strength
Tropical Storm Gustav nears hurricane strength, pouring heavy rains over
Jamaica, while Tropical Storm Hanna has become the eighth tropical storm
of the Atlantic hurricane season.
MarketWatch First Take: Lehman layoffs: another comeuppance for Wall
Street
If America has any pity left for the Wall Street banker, it was directed
Thursday at Lehman Brothers Holdings Inc.
Rex Nutting: Freedom rings from the Rockies
DENVER
In the span of one lifetime, America has gone from a nation that
tolerated lynchings to a nation that's ready - maybe - to elect an
African-American as president.
Economic Report: Revised U.S. GDP surges 3.3%; high-water mark for
growth?
The second quarter flexes more second-quarter muscle than previously
estimated, but this could represent the high-water mark for the economy
for at least the next year.
A house that takes environmental friendliness into the future
Living green the Smart Home way starts with a state-of-the-art -- and
artistic -- dwelling that borrows from the past and courts the future,
with each low-volume toilet flush, composted apple peel and collected
rain drop tracked by the structure's digital brain.
U.S. stocks strike solid gains on second-quarter GDP
U.S. stocks strike solid gains, with the Dow Jones Industrial Average
and S&P 500 advancing for a third straight day, as financial shares
rallied and the government hiked its previous tally of economic growth
in the second quarter.
Economic Report: Second-quarter U.S. GDP surges 3.3%; was it high-water
mark?
The second quarter flexes more second-quarter muscle than previously
estimated, but this could represent the high-water mark for the economy
for at least the next year.
Obama wins Democratic nomination for president
Sen. Barack Obama formally won the Democratic Party's nomination for
president, becoming the first African-American to be nominated for the
White House.
U.S. stock indexes jump at Thursday's start; GDP revision stokes buying
U.S. stock indexes jump at Thursday's start; GDP revision stokes buying
8/28/2008 9:37:26 AM
Stocks open higher after government reports surprise 3.3% jump in revised annual rate for second-quarter GDP.
Stocks open higher after government reports surprise 3.3% jump in
revised annual rate for second-quarter GDP.
Oil prices cross $120 a barrel amid growing fear that Gustav will gain force and knock out production facilities in Gulf of Mexico.
Oil prices cross $120 a barrel amid growing fear that Gustav will gain
force and knock out production facilities in Gulf of Mexico.
Wednesday, August 27, 2008
Breaking News: Democrats formally nominate Obama
DENVER - Barack Obama has been formally chosen as the Democratic
presidential nominee by acclamation at the party's convention.
Markets Wednesday, 08/27/2008
| Dow : 11502.51 up 89.64
| S & P : 1281.66 up 10.15
| NASDAQ: 2382.46 up 20.49
| Bond (10Y): 3.76%, 101.94
MARKETS:
Stocks gain on durables
Wall Street advances thanks to a strong economic report. Investors set
aside worries about surging oil prices, even as Gustav heads for the
Gulf Coast.
U.S. stocks close higher, paced by energy and financial shares
U.S. stocks close higher, paced by energy and financial shares
U.S. stocks climb higher as investors applaud a July rise in orders for
U.S. durable goods, with a spike in the price of crude viewed as a
temporary reaction to hurricane conditions in the Gulf of Mexico.
Economic Report: Durable goods orders rise surprising 1.3%
Signaling that some businesses have still been spending despite market
turmoil, government data show a surge of 1.3% in new orders for
U.S.-made durable goods during July.
Oil closes above $118 on storm jitters as U.S. supplies fall
Crude-oil futures extend their gains Wednesday, getting support in part
from continuing worries that Tropical Storm Gustav may damage oil
infrastructure in the Gulf of Mexico. Natural gas again rallies.
The Fed: Worst of inflation will soon be behind us: Lockhart
The president of the Federal Reserve Bank of Atlanta comes down squarely
on the side of Fed chief Ben Bernanke, who has argued that inflationary
pressures should ease in coming months.
Clinton, Biden to take Democrats' stage Wednesday
Bill Clinton and Sen. Joe Biden are set to grab the spotlight at the
Democratic National Convention Wednesday evening, with eyes focused on
the former president to see if he matches the rousing endorsement given
by Sen. Hillary Clinton to Sen. Barack Obama and his running-mate Biden.
Stocks end higher as Wall Street welcomes a surprisingly strong durable goods report and shrugs off higher oil prices.
Stocks end higher as Wall Street welcomes a surprisingly strong durable
goods report and shrugs off higher oil prices.
Oil jumped almost $2 to settle over $118 a barrel as Tropical Storm Gustav threatens the Gulf of Mexico's oil production.
Oil jumped almost $2 to settle over $118 a barrel as Tropical Storm
Gustav threatens the Gulf of Mexico's oil production.
Midday Report: U.S. stock indexes advance as data support upbeat tone
U.S. stock indexes advance as data support upbeat tone
U.S. stocks climb as investors applaud a July rise in orders for U.S.
durable goods, with a spike in the price of crude viewed as a temporary
reaction to hurricane conditions in the Gulf of Mexico.
Economic Report: Durable goods orders rise surprising 1.3%
Signaling that some businesses have still been spending despite market
turmoil, government data show a surge of 1.3% in new orders for
U.S.-made durable goods during July.
The Fed: Worst of inflation will soon be behind us: Lockhart
The president of the Federal Reserve Bank of Atlanta comes down squarely
on the side of Fed chief Ben Bernanke, who has argued that inflationary
pressures should ease in coming months.
Weekly mortgage applications rise for first time in three weeks
Weekly mortgage applications rise for the first time in three weeks, the
Mortgage Bankers Association says Wednesday.
Clinton, Biden to take Democrats' stage Wednesday
Bill Clinton and Sen. Joe Biden are set to grab the spotlight at the
Democratic National Convention Wednesday evening, with eyes focused on
the former president to see if he matches the rousing endorsement given
by Sen. Hillary Clinton to Sen. Barack Obama and his running-mate Biden.
Foreclosure prevention group says banks helped 91,752 at-risk borrowers keep their homes last month - 2 million in past 13 months.
Foreclosure prevention group says banks helped 91,752 at-risk borrowers
keep their homes last month - 2 million in past 13 months.
Oil prices edge higher after government reports unexpected drop in crude inventories and bigger-than-expected dip in gas supplies.
Oil prices edge higher after government reports unexpected drop in crude
inventories and bigger-than-expected dip in gas supplies.
Durable goods orders surged by a more-than-expected 1.3% in July, signaling a rise in spending, AP reports.
Durable goods orders surged by a more-than-expected 1.3% in July,
signaling a rise in spending, AP reports.
Stocks open flat after the government reports a surprise surge in orders for big-ticket items for the 2nd straight month.
Stocks open flat after the government reports a surprise surge in orders
for big-ticket items for the 2nd straight month.
Tuesday, August 26, 2008
Markets Tuesday, 08/26/2008
| Dow : 11412.87 up 26.62
| S & P : 1271.51 up 4.67
| NASDAQ: 2361.97 down 3.62
| Bond (10Y): 3.77%, 101.84
MARKETS:
Stocks mixed as oil ticks higher
Wall Street gyrates along with crude prices; low market volume, mixed
housing and economic reports keep stocks within a narrow range.
U.S. stocks end mostly up as energy shares climb
U.S. stocks end mostly up as energy shares climb
U.S. stocks wobble higher in light volume, as energy shares front
limited gains and after mixed data on the housing front and a
better-than-forecast rise in consumer confidence.
Bank earnings fall to $5 bln in second quarter: FDIC
In the three months from April to June, banks' earnings were their
second lowest since 1991, according to the Federal Deposit Insurance
Corporation. .
FAA says technical problem snarls U.S. air traffic
SAN FRANCISCO
Problems with a computer system used to process flight plans were
causing delays at airports across the United States Tuesday, according
to Federal Aviation Administration officials.
The Fed: Outlook dimmed for growth ahead, Fed minutes show
Growth looked weaker to Federal Reserve officials on Aug. 5 than it had
in many months, according to a summary of the closed-door meeting.
Democrats prepare for Hillary Clinton's speech on Day 2
Sen. Hillary Clinton prepares to take the stage during the second day of
the Democratic National Convention as the party works to repair internal
rifts and present a united front behind Sen. Barack Obama against his
Republican opponents.
Stocks end a subdued session mixed after a mixed bag of housing and economic reports.
Stocks end a subdued session mixed after a mixed bag of housing and
economic reports.
Fed says most members at last meeting concerned about inflation and credit crisis, but see rate hike as likely next move.
Fed says most members at last meeting concerned about inflation and
credit crisis, but see rate hike as likely next move.
Midday Report: U.S. stocks post modest gains following economic data
U.S. stocks post modest gains following economic data
NEW YORK
U.S. stocks on Tuesday shifted modestly higher in light volume after
data pointed to a better-than-forecast rise in consumer confidence and
ongoing weakness in the troubled housing market.
Futures Movers: Oil futures jump 2% on hurricane, Russia worries
Crude-oil futures soar 2%, boosted by concerns that Hurricane Gustav
might disrupt oil supplies in the Gulf of Mexico and heightened
geopolitical tensions after Russia formally recognizes the independence
of two breakaway Georgian regions.
Economic Report: Home prices fall at record 15.9% year-over-year pace in
June
U.S. home prices fall at a record 15.9% year-over-year rate in June,
stepping up the pressure on an already-fragile financial system as the
housing market shows precious few glimmers of light.
Currencies: Dollar up vs. most rivals but capped by housing data, rising
oil
The dollar is higher against most major rivals but is off its session
peaks after downbeat U.S. home-price data and a rebound in crude-oil
prices.
Obama hasn't sold voters yet on economic issues
Voters say the economy is their biggest worry this election year, and
they want answers from Democrats and Republicans about what they'd do to
restore the American Dream.
U.S Consumer confidence rises, though job worries persist.
U.S. consumer confidence rises, though job worries persist
U.S. consumer confidence rises, though job worries persist
8/26/2008 10:05:30 AM
Home prices plummet a record 15.4% in the second quarter over last year, according to S&P/Case-Shiller.
Home prices plummet a record 15.4% in the second quarter over last year,
according to S&P/Case-Shiller.
Key measure of consumer confidence shows surprise jump in August. New home sales in July show continued weakness.
Key measure of consumer confidence shows surprise jump in August. New
home sales in July show continued weakness.
Oil prices whipsaw in a $5 range, rising more than $2.40/barrel to above $117 after earlier shedding nearly $3.
Oil prices whipsaw in a $5 range, rising more than $2.40/barrel to above
$117 after earlier shedding nearly $3.
Stocks open mixed as investors await key reports on consumer confidence and new home sales.
Stocks open mixed as investors await key reports on consumer confidence
and new home sales.
Monday, August 25, 2008
Markets Monday, 08/25/2008
| Dow : 11386.25 down 241.81
| S & P : 1266.84 down 25.36
| NASDAQ: 2365.59 down 49.12
| Bond (10Y): 3.78%, 101.75
MARKETS:
Stocks slump on bank woes
Wall Street retreats, with the Dow losing 242 points, on credit market
problems and higher oil prices. Investors discount better-than-expected
existing home sales report.
U.S. stocks end sharply lower in thin trading volume
U.S. stocks end sharply lower in thin trading volume
U.S. stock indexes lose 2%, with the Dow Jones Industrial Average hit
with its biggest point decline in more than a month, as concerns about
the financial sector weigh on sentiment and housing data fail to appease
investors' unease.
Oil ends higher as Atlantic storm revives supply questions
Oil ends closes higher after the formation of a new tropical storm in
the Atlantic raises the possibility of supply disruptions in the Gulf of
Mexico.
Economic Report: U.S. existing-home sales rise but unsold inventory hits
record
Resales of U.S. single-family homes and condominiums increase in July,
but inventories also rise, reaching record levels, National Association
of Realtors data show.
Financial Stocks: Freddie Mac shares rise on solid demand for debt
auction
Shares of mortgage giants Fannie Mae and Freddie Mac were mixed in early
trading Monday as speculation continues to swirl that a government
bailout is inevitable with no housing recovery in sight.
One nation, changing quickly
Sen. Barack Obama has vowed to bring change to Washington. If he's
elected president, he'll have plenty of changes on the demographics
front to deal with himself.
Stocks tumble as credit market fears and higher oil prices scare off investors. Dow loses over 230 points.
Stocks tumble as credit market fears and higher oil prices scare off
investors. Dow loses over 230 points.
Dow drops more than 200 points as credit woes and high oil prices drag on Wall Street.
Dow drops more than 200 points as credit woes and high oil prices drag
on Wall Street.
U.S. stocks slammed as financials undercut sentiment
U.S. stocks slammed as financials undercut sentiment
U.S. stocks drop sharply as oil remains above $114 a barrel and as
concerns about the financial sector continue to weigh on investor
sentiment.
Economic Report: U.S. existing-home sales rise but unsold inventory hits
record
Resales of U.S. single-family homes and condominiums increase in July,
but inventories also rise, reaching record levels, National Association
of Realtors data show.
One nation, changing quickly
Sen. Barack Obama has vowed to bring change to Washington. If he's
elected president, he'll have plenty of changes on the demographics
front to deal with himself
Stocks open lower as investors mull higher oil prices, await report on existing homes sales at 10 am.
Stocks open lower as investors mull higher oil prices, await report on
existing homes sales at 10 am.
Sales of existing homes rose 3.1% in July to an annual rate of 5 million, higher than forecasts, Realtors group said.
Sales of existing homes rose 3.1% in July to an annual rate of 5
million, higher than forecasts, Realtors group said.
