Saturday, October 04, 2008
Breaking News: OJ Simpson Found Guilty of Armed Robbery
Thirteen years to the day after being acquitted of killing his wife and
her friend in Los Angeles, O.J. Simpson was found guilty of robbing two
sports-memorabilia dealers at gunpoint in a Las Vegas hotel room.
Friday, October 03, 2008
Markets Friday, 10/3/2008
| Dow : 10325.38 down 157.47
| S & P : 1099.23 down 15.05
| NASDAQ: 1947.39 down 29.33
| Bond (10Y): 3.60%, 103.22
MARKETS:
Stocks slump despite bank bailout
Dow suffers worst weekly performance in 7 years as investors remain
fearful about the economy.
U.S. stock indexes trim gains after House passes bill
U.S. stock indexes trim gains after House passes bill
U.S. stocks ease back on their rally after the House of Representatives
approves a revised $700 billion bailout plan.
Small Business Report: Latest credit freeze not hitting small firms hard
-- yet
Amid a tightening credit crunch, banks' refusal to lend to each other is
hampering the operations of companies in an array of industries, but the
degree to which the recent credit crisis is crimping small U.S. firms is
a matter of some debate.
Citi slams Wachovia-Wells deal, says it had exclusive rights
Citigroup lashes out against Wachovia-Wells deal, saying it has
exclusive rights.
AIG puts many businesses up for sale as it seeks to repay Fed
American International Group plans to refocus on its core property and
casualty insurance businesses and is looking into the sale of other
units as it seeks to repay a massive loan from the Federal Reserve.
Economic Report: Payrolls fall by 159,000 in September, worst in 5
years
U.S. employment fell by 159,000 in September, the worst job losses since
March 2003, the Labor Department reported Friday.
Stocks rebound with House vote ahead; Dow up 200 points
Stocks rebound with House vote ahead; Dow up 200 points
U.S. stocks rally, bouncing back after two days of losses, with
financial shares fronting the gains as a new buyout deal for Wachovia
Corp. lifts spirits, as does optimism about the coming House vote on the
historic bank rescue plan.
House set for second rescue package vote
House lawmakers are to vote for a second time on a high-stakes proposal
to prop up strapped financial markets as uncertainty lingers about the
bill's passage and President Bush seeks to shore up support for the
measure.
Citi slams Wachovia-Wells deal, says it had exclusive rights
Citigroup lashes out against Wachovia-Wells deal, saying it has
exclusive rights. See full story.
AIG moves to sell off non-core assets as it seeks to repay Fed
American International Group plans to refocus on its core property and
casualty insurance businesses and is looking into the sale of other
units as it seeks to repay a massive loan from the Federal Reserve.
Economic Report: Payrolls fall by 159,000 in September, worst in 5
years
U.S. employment fell by 159,000 in September, the worst job losses since
March 2003, the Labor Department reported Friday.
Breaking News: House passes financial bailout bill
WASHINGTON (AP) - The House has passed historic legislation to bail out
the
troubled financial industry.
Dow turns lower, erasing 300-point rally, after passage of $700 billion bailout plan.
Dow turns lower, erasing 300-point rally, after passage of $700 billion
bailout plan.
White House says that President Bush has signed the historic $700 billion bailout bill into law.
White House says that President Bush has signed the historic $700
billion bailout bill into law.
Citi demands Wells Fargo terminate deal with Wachovia, claims it is 'clear breach of exclusivity agreement.'
Citi demands Wells Fargo terminate deal with Wachovia, claims it is
'clear breach of exclusivity agreement.'
AIG: keeping core property, casualty insurance business and seeking buyers for other units. Wells Fargo, Wachovia to merge.
AIG: keeping core property, casualty insurance business and seeking
buyers for other units. Wells Fargo, Wachovia to merge.
Breaking News: Business News
Breaking News Content Goes here.Wells Fargo says it is acquiring
Wachovia in an all-stock transaction worth about $15.1 billion, as
Wachovia ends talks with rival suitor Citigroup.
Breaking News: Payrolls shrink by 159,000 in September
WASHINGTON - The Labor Department says employers slashed payrolls by
159,000 in September, the most in more than five years. It was a
worrisome sign that the economy is hurtling toward a deep recession.
Economy shed jobs for the 9th straight month in September - down a massive 159,000. Unemployment holds at 6.1%.
Economy shed jobs for the 9th straight month in September - down a
massive 159,000.
Unemployment holds at 6.1%.
Stocks rise at open as investors focus on House bailout vote after government issues dismal monthly employment report.
Stocks rise at open as investors focus on House bailout vote after
government issues dismal monthly employment report.
Thursday, October 02, 2008
Markets Thursday, 10/2/2008
| Dow : 10482.85 down 348.22
| S & P : 1114.28 down 46.78
| NASDAQ: 1976.72 down 92.68
| Bond (10Y): 3.62%, 103.03
MARKETS:
Bailout fears sink stocks
Dow falls 348 as investors worry that the House won't approve the $700B
plan.
U.S. stocks fall steeply as economic fear trumps rescue vote hope
U.S. stocks fall steeply as economic fear trumps rescue vote hope
Stocks tumble, with concerns about the economy offsetting hopes that the
$700 billion financial-bailout plan will pass Congress after being
approved by the Senate.
Commodities Corner: Oil's back to square one, and back to reality
The oil market's been hit with a dose of reality in the form of genuine
fear over demand destruction -- and prices show it.
Palin, Biden walk fine lines in tonight's debate
When Joe Biden and Sarah Palin take the stage in St. Louis tonight, look
for the two vice-presidential hopefuls to walk their own tightropes when
moderator Gwen Ifill grills them.
Bailout bill faces next test in House on Friday
The $700 billion rescue plan for the financial markets approved by the
Senate Wednesday night faces its next test in the House on Friday, as
some lawmakers and the White House were cautiously optimistic on
Thursday about its passage.
SEC backs down on short-selling disclosure rule, extends ban
Extending a controversial move aimed at attempting to calm a rattled
stock market, the Securities and Exchange Commission says its selective
short-selling ban will now run until 11:59 p.m. EDT on Oct. 17. But a
controversial provision to require public disclosure of short positions
gets pulled by the regulatory body.
stocks fall steeply as economic fear trumps rescue vote
U.S. stocks fall steeply as economic fear trumps rescue vote
Stocks tumble, with concerns about the economy offsetting hopes that the
$700 billion financial-bailout plan will pass Congress after being
approved by the Senate.
SEC backs down on short-selling disclosure rule, extends ban
Extending a controversial move aimed at attempting to calm a rattled
stock market, the Securities and Exchange Commission says its selective
short-selling ban will now run until 11:59 p.m. EDT on Oct. 17.
Senate approves $700 billion financial rescue plan
The Senate approved a revised $700 billion U.S. plan to stabilize the
financial industry and kick-start credit on Wednesday night, just two
days after the House defied President Bush and leaders of both political
parties to reject the original package.
Trichet opens door to ECB rate cut, economists say
There was no October surprise from the European Central Bank Thursday as
its Governing Council voted to leave its key lending rate unchanged at
4.25% despite a rapidly deteriorating economic outlook and rising
turmoil in the European banking sector.
UBS expects to post small profit, cuts mortgage exposure
UBS expects to return to profit in the third quarter after substantially
reducing its exposure to U.S. commercial and residential mortgages.
Dow falls 300 points as tough economic data weighs on hopes that Congress will pass bailout bill.
Dow falls 300 points as tough economic data weighs on hopes that
Congress will pass bailout bill.
U.S. factory orders suffer steepest decline in two years
U.S. factory orders suffer steepest decline in two years
10/2/2008 10:01:53 AM
A foreclosure prevention group says it helped 189,000 troubled borrowers stay in their homes in August - fewer than previous month.
A foreclosure prevention group says it helped 189,000 troubled borrowers
stay in their homes in August - fewer than previous month.
Claims for initial unemployment benefits show surprise surge to 497,000 last week - highest in 7 years, Dow Jones reports.
Claims for initial unemployment benefits show surprise surge to 497,000
last week - highest in 7 years, Dow Jones reports.
Stocks open lower after government reports sharp drop in jobless claims and as investors await more bailout action.
Stocks open lower after government reports sharp drop in jobless claims
and as investors await more bailout action.
Asian stocks turn lower after passage of U.S. bailout package
Asian stocks turn lower after passage of U.S. bailout package
10/1/2008 10:18:03 PM
Wednesday, October 01, 2008
=?UTF-8-STRICT?Q?Senate_votes_74_to_25_to_pass_$700_billion_bailou?= =?UTF-8-STRICT?Q?t_and_tax-cut_plan._House_=E2=80=93_after_rejecting_simi?= =?UTF-8-STRICT?Q?lar_bill__-_to_vote_on_Friday.?=
Senate votes 74 to 25 to pass $700 billion bailout and tax-cut plan.
House – after rejecting similar bill - to vote on Friday.
Markets Wednesday, 10/1/2008
| Dow : 10831.07 down 19.59
| S & P : 1161.06 down 3.68
| NASDAQ: 2069.40 down 22.48
| Bond (10Y): 3.75%, 102.09
MARKETS:
Stocks end lower before vote
Investors await $700 billion bank rescue vote in the Senate.
GE to sell $12 billion in stock; Buffett to take stake
GE to sell $12 billion in stock; Buffett to take stake
General Electric Co., its financial business stung by a growing credit
crisis worldwide, says it is launching a stock offering to raise $12
billion in cash and conducting a private deal with billionaire investor
Warren Buffett.
Market Snapshot: U.S. stocks end down slightly amid bailout uncertainty
Stocks are mostly lower even as they come off earlier lows, with markets
entering the first session of the fourth quarter still on edge over
whether Congress will pass the controversial $700 billion
financial-sector bailout package.
Rescue plan appears headed for passage in Senate
Lawmakers express optimism about the passage of a rescue plan for the
financial markets ahead of a scheduled vote in the Senate, just two days
after the plan went down in flames in the House of Representatives and
with stock markets on edge.
Obama opens lead in three key swing states
The economic crisis and a well-received debate performance have given
presidential candidate Barack Obama a sizable lead in the three critical
swing states of Pennsylvania, Ohio and Florida, according to a new
poll.
Wal-Mart cuts toy prices to boost early Christmas shopping
NEW YORK
Wal-Mart Stores Inc. said it will cut prices on some of the most popular
toys and speed up the opening of Christmas shops in its stores
nationwide as it tries to lure budget-conscious shoppers and jump start
its biggest selling season,.
Stocks end modestly lower; market awaits Senate vote on bailout
Stocks end modestly lower; market awaits Senate vote on bailout
10/1/2008 4:02:02 PM
Oil prices fell $2.11 to settle at $98.53 a barrel as traders refocus on economic worries and falling demand.
Oil prices fell $2.11 to settle at $98.53 a barrel as traders refocus on
economic worries and falling demand.
The Senate rescue bill would extend popular tax breaks for individuals and businesses.
The Senate rescue bill would extend popular tax breaks for individuals
and businesses.
Ford sales tumble 34% in September, worse than expected.
Ford sales tumble 34% in September, worse than expected.
GM says September sales drop 16%.
GM says September sales drop 16%.
GE selling $3 bln in preferred stock to Berkshire, $12 bln in common stock to public
GE selling $3 bln in preferred stock to Berkshire, $12 bln in common
stock to public
10/1/2008 1:49:38 PM
Toyota says September sales down 32.3%
Toyota says September sales down 32.3%
Oil prices fell $2.11 to settle at $98.53 a barrel as traders refocus on economic worries and falling demand.
Oil prices fell $2.11 to settle at $98.53 a barrel as traders refocus on
economic worries and falling demand.
Oil prices tumble after government reports big jump in crude inventories and larger-than-expected drawdown of gasoline supplies.
Oil prices tumble after government reports big jump in crude inventories
and larger-than-expected drawdown of gasoline supplies.
U.S. stocks trade lower at Wednesday's open; Dow industrials down 125 points
U.S. stocks trade lower at Wednesday's open; Dow industrials down 125
points
10/1/2008 9:38:21 AM
Manufacturing activity plunged in September, signaling ongoing sluggishness in the sector, according to a key gauge.
Manufacturing activity plunged in September, signaling ongoing
sluggishness in the sector, according to a key gauge.
Tuesday, September 30, 2008
Markets Tuesday, 09/30/2008
| Dow : 10850.66 up 485.21
| S & P : 1164.74 up 58.32
| NASDAQ: 2082.33 up 98.60
| Bond (10Y): 3.82%, 101.44
MARKETS:
Dow comes back big
Third-highest point gain ever for blue-chip measure comes on bets that a
bailout plan can get passed.
U.S. stocks rally; Dow posts third-biggest point gain ever
U.S. stocks rally; Dow posts third-biggest point gain ever
U.S. stock indexes make a respectable comeback from the prior session's
historic rout, in the context of cautious optimism that a rescue plan
rejected Monday by the U.S. House of Representatives would be revived.
Currencies: Dollar surges vs. major counterparts on rescue-plan revival
hopes
The U.S. dollar rallies against most major currencies, as mounting woes
in the European banking sector batter the euro, while the greenback is
boosted by hopes that the proposed $700 billion rescue package for the
U.S. financial sector may be passed soon in some form.
Asia Markets: Stocks end mixed amid bailout review hopes
Asian markets pare steep losses Tuesday on hopes that U.S. lawmakers
will reconsider a $700 billion financial-sector bailout they rejected
overnight.
Obama, McCain unveil plans to aid bailout
Sens. Barack Obama and John McCain both are calling for a raising of
federally insured limits on bank-deposit accounts in an effort reassure
voters that their funds are safe.
Ireland takes steps to safeguard banking system
The Irish government on Tuesday says it will guarantee domestic banks'
deposits and debt for two years in an effort to allay fears of an
imminent collapse after shares in the sector lost more than a quarter of
their value in Dublin Monday.
Oil prices settle $4.27 higher to $100.64 a barrel a day after a huge drop in prices following the House rejection of rescue bill.
Oil prices settle $4.27 higher to $100.64 a barrel a day after a huge
drop in prices following the House rejection of rescue bill.
Dow surges 496 points, one of the biggest point gains in history, as investors hope a new rescue bill will be OK'd.
Dow surges 496 points, one of the biggest point gains in history, as
investors hope a new rescue bill will be OK'd.
U.S. stocks bounce back as bargain-hunters step in
U.S. stocks bounce back as bargain-hunters step in
U.S. stocks climbed Tuesday in a partial bounce back from the prior
session's record rout amid cautious optimism that a rescue plan rejected
by the U.S. House of Representatives would be revived.
Currencies: Dollar surges vs. rivals on rescue-plan hopes
The U.S. dollar rallies against most major currencies, as mounting woes
in the European banking sector batter the euro, while the greenback is
boosted by hopes that the proposed $700 billion rescue package for the
U.S. financial sector may be passed soon in some form.
Congress mulls options for rescue plan; Bush urges passage
Saying this is a 'very critical moment for the economy,' President Bush
makes a fresh push for Congress to act quickly on legislation to save
the financial system, one day after the House's surprise rejection of
the $700 billion package.
Asia Markets: Stocks end mixed amid bailout review hopes
Asian markets pare steep losses Tuesday on hopes that U.S. lawmakers
will reconsider a $700 billion financial-sector bailout they rejected
overnight.
U.S. stocks bounce back as bargain-hunters step in
U.S. stocks bounce back as bargain-hunters step in
U.S. stocks climbed Tuesday in a partial bounce back from the prior
session's record rout amid cautious optimism that a rescue plan rejected
by the U.S. House of Representatives would be revived.
Currencies: Dollar surges vs. rivals on rescue-plan hopes
The U.S. dollar rallies against most major currencies, as mounting woes
in the European banking sector batter the euro, while the greenback is
boosted by hopes that the proposed $700 billion rescue package for the
U.S. financial sector may be passed soon in some form.
Congress mulls options for rescue plan; Bush urges passage
Saying this is a 'very critical moment for the economy,' President Bush
makes a fresh push for Congress to act quickly on legislation to save
the financial system, one day after the House's surprise rejection of
the $700 billion package.
Asia Markets: Stocks end mixed amid bailout review hopes
Asian markets pare steep losses Tuesday on hopes that U.S. lawmakers
will reconsider a $700 billion financial-sector bailout they rejected
overnight.
Ireland takes steps to safeguard banking system
The Irish government on Tuesday says it will guarantee domestic banks'
deposits and debt for two years in an effort to allay fears of an
imminent collapse after shares in the sector lost more than a quarter of
their value in Dublin Monday.
Dow jumps 300 points, recouping almost half of Monday's losses.
Dow jumps 300 points, recouping almost half of Monday's losses.
Home prices in July plunged a record 16.3% year over year , according to the S&P Case-Shiller 20-city index, AP reports.
Home prices in July plunged a record 16.3% year over year , according to
the S&P Case-Shiller 20-city index, AP reports.
Stocks open higher, with the Dow bouncing back from a record point decline, as investors await the government's next bailout move.
Stocks open higher, with the Dow bouncing back from a record point
decline, as investors await the government's next bailout move.
Monday, September 29, 2008
Stocks in Japan sink 4% at open following selloff in U.S. stock markets.
Stocks in Japan sink 4% at open following selloff in U.S. stock markets.
Hong Kong stocks drop 6% in early trading
Hong Kong stocks drop 6% in early trading
9/29/2008 10:05:27 PM
Markets Monday, 09/29/2008
| Dow : 10365.45 down 777.68
| S & P : 1106.42 down 106.85
| NASDAQ: 1983.73 down 199.61
| Bond (10Y): 3.60%, 103.28
MARKETS:
Stocks crushed
Dow down nearly 778, worst point drop ever, after the House rejects the
$700 billion bank bailout plan.
U.S. stocks slide, Dow plunges 777 points, as bailout bill fails
U.S. stocks slide, Dow plunges 777 points, as bailout bill fails
U.S. stocks sink, with the Dow Jones Industrial Average plunging as much
as 700 points, with legislators in the House of Representatives
rejecting the government's $700 billion rescue plan for the financial
sector.
House rejects U.S. $700 billion rescue package
House lawmakers vote to reject the historic $700 billion financial
rescue plan, a sharp blow to the administration and bipartisan leaders
in Congress who warn that the country is on the brink of an economic
precipice.
Treasury unveils money-market support plan
The Treasury Department releases details about its guarantee program for
money-market funds, expanding on the announcement it first made during a
run on the funds.
Citi to buy Wachovia's bank biz in latest government-backed deal
Wachovia becomes the latest financial-services giant to succumb to the
global credit crunch under a sell-off of operations to Citigroup Inc.
The Ratings Game: Apple shares pounded after downgrades
Apple Inc. shares fall to their lowest levels in 16 months Monday as two
analysts cut their ratings on the Mac maker's stock due to a growing
risk that consumer spending on high-end electronics is slowing down
heading into the end of the year. .
Senate Republican leader John Boehner says the $700 billion financial rescue will not go up for another vote today.
Senate Republican leader John Boehner says the $700 billion financial
rescue will not go up for another vote today.
Oil settles more than $10 lower to $96.37 a barrel after the House rejects historic $700 billion economic bailout plan.
Oil settles more than $10 lower to $96.37 a barrel after the House
rejects historic $700 billion economic bailout plan.
House rejects $700B bailout; Dow falls
WASHINGTON - In a stunning rebuke to President Bush, congressional
leaders and Wall Street, the House rejected a $700 billion financial
bailout package Monday, with a coalition of conservative Republicans and
liberal Democrats refusing to grant the government sweeping powers to
buy up distressed loans. Wall Street reacted immediately to the news,
with the Dow dropping 523 points as of 2:15 p.m. ET.
U.S. stocks plunge as global credit crisis spreads
U.S. stocks plunge as global credit crisis spreads
U.S. stocks plunge as the global credit crisis spreads, with four
bailouts in Europe and the takeover of Wachovia Corp. in the U.S.
roiling securities, commodities and currencies markets.
Citigroup to acquire Wachovia's operations in U.S.-backed move
Wachovia becomes the latest financial-services giant to succumb to the
global credit crunch under a sell-off of operations to Citigroup Inc.
Futures Movers: Oil futures tumble 6% on demand concerns
Crude-oil futures tumble 6%, pressed by worries that the U.S.
government's bailout plan may not be enough to stem the banking crisis
and that slowing global economic growth will dempen demand for oil.
Fed, central banks keep heat on frozen money markets
The Federal Reserve and other major central banks took unprecedented
steps Monday to pour hundreds of billions of dollars in additional
liquidity into money markets left paralyzed by fears of further bank
failures in the United States and Europe.
Currencies: Euro, British pound plunge on bank woes
The government rescue of Belgian-Dutch financial giant Fortis and the
decision to nationalize another U.K. lender over the weekend combine to
put the euro and sterling under heavy selling pressure, with currency
traders piling into the dollar.
Federal Reserve pumps further liquidity into global money markets
Federal Reserve pumps further liquidity into global money markets
9/29/2008 10:05:43 AM
Dow industrials down 300 points; gold tops $900 on safe-haven buying
Dow industrials down 300 points; gold tops $900 on safe-haven buying
9/29/2008 10:13:21 AM
U.S. consumer spending flat in August -- weaker than forecast
U.S. consumer spending flat in August -- weaker than forecast
9/29/2008 8:34:03 AM
Stocks tumble as House debates bailout, investors worry economic slowdown in Europe will worsen and Citi buys Wachovia assets.
Stocks tumble as House debates bailout, investors worry economic
slowdown in Europe will worsen and Citi buys Wachovia assets.
Federal Reserve, other central banks expand agreements in an effort to increase dollar liquidity amid 'continued strains.'
Federal Reserve, other central banks expand agreements in an effort to
increase dollar liquidity amid 'continued strains.'
Stock selloff accelerates - Dow industrials tumble over 300 points - as House debates U.S. bailout bill.
Stock selloff accelerates - Dow industrials tumble over 300 points - as
House debates U.S. bailout bill.
Sunday, September 28, 2008
Rescue bill allows for insurance plan to guarantee companies' troubled assets - with premiums paid by industry.
Rescue bill allows for insurance plan to guarantee companies' troubled
assets - with premiums paid by industry.
Breaking News
Congress has made public a $700 billion bailout bill draft that includes
conditions added by lawmakers.
Congressional leaders release draft text of economic rescue bill
Congressional leaders release draft text of economic rescue bill
9/28/2008 5:47:56 PM
Congress releases draft of bill that would enact far-reaching government rescue of struggling financial system.
Congress releases draft of bill that would enact far-reaching government
rescue of struggling financial system.
Rescue bill would give Treasury Secretary Paulson immediate authority to spend $250 billion of $700 billion package.
Rescue bill would give Treasury Secretary Paulson immediate authority to
spend $250 billion of $700 billion package.
Rescue bill prohibits "golden parachutes" to executives at participating companies.
Rescue bill prohibits "golden parachutes" to executives at participating
companies.
Rescue bill creates oversight board that includes Fed and SEC Chairs and housing regulators.
Rescue bill creates oversight board that includes Fed and SEC Chairs and
housing regulators.
Rescue bill would give government option to take ownership stakes in participating companies.
Rescue bill would give government option to take ownership stakes in
participating companies.
House Speaker Pelosi says lawmakers have released draft of $700 billion financial industry rescue bill.
financial industry rescue bill.
U.S. bailout accord buoys Asian stocks
U.S. bailout accord buoys Asian stocks
9/28/2008 8:29:03 PM
Breaking News
Congressional lawmakers say a "breakthrough" has been reached on a
proposed economic bailout deal.
