Saturday, October 11, 2008
Palin violated ethics rules in 'troopergate' case, Alaska legislative panel says
Palin violated ethics rules in 'troopergate' case, Alaska legislative
panel says
10/10/2008 8:32:25 PM
U.K. Treasury and banks set to announce massive capital-raising plan Monday - WSJ
U.K. Treasury and banks set to announce massive capital-raising plan
Monday - WSJ
10/11/2008 4:42:39 PM
Friday, October 10, 2008
Markets Friday, 10/10/2008
| Dow : 8451.19 down 128.00
| S & P : 899.22 down 10.70
| NASDAQ: 1649.51 up 4.39
| Bond (10Y): 3.88%, 100.97
MARKETS:
Vertigo on Wall Street
Volatile Dow plunges as much as 697 points, rises as much as 322, as
panicky investors try to find their footing.
U.S. stock indexes looking at weekly losses of 20% and more
U.S. stock indexes looking at weekly losses of 20% and more
U.S. stocks tally losses for an eighth consecutive day but step back
from an opening plunge that saw the Dow Jones Industrial Average below
8,000 for the first time in more than five years.
Futures Movers: Oil ends below $78 at a more than 1-year low, down 17%
on week
Crude-oil futures tumble to close at a more than one-year low under $78
a barrel, ending the week with a 17% loss as global stock markets reeled
and the energy complex came under renewed pressure by fears about
flagging demand.
Morgan Stanley shares hit again after Moody's warning
BOSTON
Shares of Morgan Stanley fell again Friday as the firm battled unceasing
and unsettled questions about its viability.
Correct: Pressure grows on G7 as global crisis deepens
Heightened fears of a global economic meltdown put greater pressure on
the world's top politicians and policy makers to craft sweeping and
unprecedented actions aimed at thawing frozen credit markets.
Obama strikes dagger into GOP defense doctrine?
It's not the kind of language one expects to hear from a Democrat.
Barack Obama's tough talk about 'taking out' Osama bid Laden may dispell
some of the public perception that the Republicans are always the
hawkish ones.
Dow can't hold on to gains and ends lower. Valiant fight back from nearly 700 point drop fades late in a wild session.
Dow can't hold on to gains and ends lower. Valiant fight back from
nearly 700 point drop fades late in a wild session.
Oil prices tumble nearly $9 to settle at $77.70 a barrel on pervasive fears of a global economic slowdown.
Oil prices tumble nearly $9 to settle at $77.70 a barrel on pervasive
fears of a global economic slowdown.
Dow crosses into positive territory, erasing losses and adding about 50 points.
Dow crosses into positive territory, erasing losses and adding about 50
points.
Dow plummets over 300 points after recovering from an earlier 700-point decline in the first minutes of trading.
Dow plummets over 300 points after recovering from an earlier 700-point
decline in the first minutes of trading.
Breaking News
Stocks tumble at open -- Dow sinks more than 500 points in first 5
minutes of trading.
Dow turns positive less than an hour into the session after tumbling nearly 700 points shortly after the market opened.
Dow turns positive less than an hour into the session after tumbling
nearly 700 points shortly after the market opened.
Dow sinks more than 500 points within the first five minutes of trading as investor fear grips the markets.
Dow sinks more than 500 points within the first five minutes of trading
as investor fear grips the markets.
Thursday, October 09, 2008
Japanese stocks drop 7% in early trading
Japanese stocks drop 7% in early trading
10/9/2008 8:26:56 PM
Hong Kong's Hang Seng drops 7.9% in early trading
Hong Kong's Hang Seng drops 7.9% in early trading
10/9/2008 10:06:11 PM
Markets Briefing Newsletter for Thursday, 10/9/2008
| Dow : 8579.19 down 675.97
| S & P : 909.92 down 75.02
| NASDAQ: 1645.12 down 95.21
| Bond (10Y): 3.76%, 101.88
MARKETS:
Dow tumbles 7%
Dow falls below 8,700 for first time since 2003 on the 1-year
anniversary of all-time high.
U.S. stocks tank into the close; Dow marks 3rd-largest point loss
U.S. stocks tank into the close; Dow marks 3rd-largest point loss
U.S. stocks on Thursday sprint to fresh five-year lows, with the major
indexes slammed for a seventh straight session as financial shares and
General Motors Corp. tank and global credit woes spur panic-stricken
investors to flee equities.
Therese Poletti's Tech Tales: Tech investors should be preparing for
more bad news
SAN FRANCISCO
Next week, the earnings barrage for the technology sector begins, with
third quarter reports from big giants such as Apple Inc., Google Inc.
and Intel Corp.
Three bank stocks on big discount worth buying
Erin Davis, who follows the banking industry for Morningstar Inc., says
that "none of the economies can continue to operate without banks, and
if you think all banks are going out of business, you might not want to
be in stocks at all."
Icelandic government takes control of country's top lender
Icelandic authorities say they have taken control of Kaupthing Bank, the
country's biggest lender, as the financial crisis in the region
continues to deepen.
GM falls to 1950 levels; European sales stung
SAN FRANCISCO
General Motors Corp. shares, already reeling from the widening credit
crisis that has crippled Wall Street, fell as much as 33% on Thursday,
dropping to levels last seen in the springtime of 1950.
MARKETWATCH COMMENTARY
Irwin Kellner: The credit markets will recover, but it will take
patience
PORT WASHINGTON, N.Y.
Monday's stock market sell off largely reflected concern that the rescue
package passed by the Congress and signed into law late last week will
not unclog the financial markets anytime soon.
Breaking News: Dow plunges more than 600 points
NEW YORK (AP) - Stocks plunged in the final minutes of trading Thursday,
sending the Dow Jones industrials down more than 600 points to their
lowest level in five years. The Dow fell more than 660 points, or 7.2%,
to about 8,586 in late dealings. The blue chips hadn't fallen below the
9,000 level since Aug. 6, 2003. The Standard & Poor's 500 index fell
74.73, or 7.6%, to 910.12 in late dealings.
Dow ends 6% lower, falling about 600 points, as the Dow tumbles in frenzied trading during the final half hour of the session.
Dow ends 6% lower, falling about 676 points, as the Dow tumbles in
frenzied trading during the final half hour of the session.
U.S. stock indexes erase gains to tally losses for seventh day
U.S. stock indexes erase gains to tally losses for seventh day
U.S. stocks turn lower for a seventh consecutive day as financial shares
weigh, dimming earlier enthusiasm that came after International Business
Machines Corp. topped profit estimates.
Economic Report: U.S. initial jobless claims fall back in latest week
Fewer Americans filed initial unemployment claims in the latest week,
the Labor Department reported Thursday, even as the four-week average of
initial claims rose amid the current economic slowdown.
U.S. may take ownership stake in banks: NYT
In another attempt to loosen credit markets and restore confidence in
the financial system, the Treasury Department is considering a plan to
take ownership stakes in many U.S. banks, both healthy and troubled,
according to a media report.
U.K. house price drop 12% year-on-year, lender says
British house prices continue to fall in September, with the average
price down 1.3% from August and 12.4% below the level seen a year ago,
mortgage lender Halifax reports Thursday in its monthly survey.
IBM gets a lift on strong earnings report
IBM gives the tech sector a bit of breathing room by posting a 20% gain
in third-quarter profit and reaffirming its earnings forecast for the
year.
Claims for initial unemployment benefits declined to 478,000 last week - slightly worse than expected, Dow Jones reports...
Claims for initial unemployment benefits declined to 478,000 last week -
slightly worse than expected, Dow Jones reports.
U.S. stocks open higher Thursday: Dow industrials up 130 points, Nasdaq 2%
U.S. stocks open higher Thursday: Dow industrials up 130 points, Nasdaq
2%
10/9/2008 9:35:31 AM
Wednesday, October 08, 2008
IBM says net income up 20%, reaffirms full-year outlook
IBM says net income up 20%, reaffirms full-year outlook
10/8/2008 6:08:39 PM
Market Briefing Newsletter for Wednesday, 10/8/2008
| Dow : 9258.10 down 189.01
| S & P : 984.94 down 11.29
| NASDAQ: 1740.33 down 14.55
| Bond (10Y): 3.63%, 102.97
MARKETS:
Fed can't save stocks
Wall Street ends a volatile session with losses as investors welcome
emergency rate cut but remain wary.
Treasury chief Paulson says more economic pain looms - urges 'patience' and says U.S. will use all tools necessary to support banks.
Treasury chief Paulson says more economic pain looms - urges 'patience'
and says U.S. will use all tools necessary to support banks.
Oil prices fall $1.11 to settle at $88.95 a barrel as investors focus on falling demand and a slowing global economy.
Oil prices fall $1.11 to settle at $88.95 a barrel as investors focus on
falling demand and a slowing global economy.
Treasury chief Paulson says more economic pain looms - urges 'patience' and says U.S. will use all tools necessary to support banks.
Treasury chief Paulson says more economic pain looms - urges 'patience'
and says U.S. will use all tools necessary to support banks.
Dow ends over 189.01 lower after hurdling above and falling below breakeven as investors digest a global rate cut. Nasdaq, S&P fall too.
Dow ends over 200 lower after hurdling above and falling below breakeven
as investors digest a global rate cut. Nasdaq, S&P fall too.
Dow industrials up 100 points
Dow industrials up 100 points
10/8/2008 1:56:23 PM
Stocks tumble at open - Dow sinks 200 points - as enthusiasm over rate cuts gives way to anxiety over underlying economic problems.
Stocks tumble at open - Dow sinks 200 points - as enthusiasm over rate
cuts gives way to anxiety over underlying economic problems.
Dow drops 200 points, after bounceback earlier in day, despite emergency rate cuts by Fed and other central banks.
Dow drops 200 points, after bounceback earlier in day, despite emergency
rate cuts by Fed and other central banks.
U.S. stocks down after coordinated rate cuts around the globe
U.S. stocks down after coordinated rate cuts around the globe
U.S. stock indexes were mixed after the Federal Reserve axed interest
rates in a synchronized move with other central banks in another effort
to stem the panic freezing of the credit markets.
The Fed: Fed, major central banks slash rates in coordinated easing
The U.S. Federal Reserve, the Bank of England, the European Central Bank
and other major central banks all move to slash key interest rates,
aiming to to head off global financial turmoil that has world economic
growth at risk.
The Fed: More rate cuts in train
Economists are convinced that there will be more rate cuts in coming
weeks, as global central banks seek to get the financial market
functioning.
Candidates clash over economy in second debate
Sens. Barack Obama and John McCain clashed over the financial crisis,
health care, energy and taxes in an economy-dominated debate on Tuesday
night, offering competing visions to 80 undecided voters and a national
television audience in a town-hall setting in Tennessee.
Retailers' September sales miss forebodes a tough holiday
Foreshadowing what may be a grim holiday selling period, initial results
from U.S. retailers show disappointing September sales, as a global
financial crisis made shoppers even more reluctant to spend.
Tuesday, October 07, 2008
Markets Tuesday, 10/7/2008
| Dow : 9447.11 down 508.39
| S & P : 996.23 down 60.66
| NASDAQ: 1754.88 down 108.08
| Bond (10Y): 3.50%, 104.09
MARKETS:
A 5-year low
U.S. stocks clobbered for 2nd straight day, with Dow losing 500 points,
as investor gloom persists.
U.S. stocks fall sharply for fifth day; S&P 500 at five-year low
U.S. stocks fall sharply for fifth day; S&P 500 at five-year low
U.S. stocks decline for a fifth session straight, extending a sharp
sell-off that has the major indexes trading at or near four-year lows,
as investors find little relief in the Federal Reserve's latest steps to
ease frozen credit markets.
Second debate on tap as financial fears mount
Sens. John McCain and Barack Obama head into their second presidential
debate on Tuesday night, with the Arizona Republican trailing in polls
behind his Democratic opponent and facing an uphill battle as the
election turns increasingly around the weak economy.
Odds rise for coordinated, global rate cuts
Fears that ongoing financial turmoil could wreck the world's banking
system and worsen a global slump fuels speculation that major central
banks are preparing to deliver a rare round of coordinated interest-rate
cuts if conditions don't improve.
The Fed: Fed to buy commercial paper to ease market strain
Opening up another front in the battle to end the credit crunch, the
Federal Reserve plans to begin buying unsecured commercial paper. The
aim is to restart a market that has ground to a virtual halt in recent
weeks over concern about the financial sector.
The Ratings Game: Analysts cool on Bank of America as credit
deteriorates
Wall Street analysts were quick to scale back their earnings
expectations for Bank of America Corp. after it pre-announced
third-quarter results, saying the company will face more credit woes as
the economy continues to weaken.
Dow industrials down more than 1,400 points over past five sessions
Dow industrials down more than 1,400 points over past five sessions
10/7/2008 4:08:16 PM
Dow falls more than 500 points; S&P at five-year low
Dow falls more than 500 points; S&P at five-year low
10/7/2008 4:00:28 PM
Dow falls more than 430 points as investors react to a flurry of dire economic news and abandon early glimmer of hope.
Dow falls more than 430 points as investors react to a flurry of dire
economic news and abandon early glimmer of hope.
U.S. stocks up on Fed's entering commerical paper market
U.S. stocks up on Fed's entering commerical paper market
U.S. stocks on Tuesday wavered higher after a sell-off that has the
major indexes trading at or near four-year lows as panicky investors
offered a tentative cheer for the Federal Reserve's latest move to ease
frozen credit markets.
Odds rise for coordinated, global rate cuts
Fears that ongoing financial turmoil could wreck the world's banking
system and worsen a global slump fuels speculation that major central
banks are preparing to deliver a rare round of coordinated interest-rate
cuts if conditions don't improve.
The Fed: Fed to buy commercial paper to ease market strain
Opening up another front in the battle to end the credit crunch, the
Federal Reserve announces it will buy unsecured commercial paper in an
effort to restart a market that has ground to a virtual halt in recent
weeks over concern about the financial sector.
The Ratings Game: Analysts cool on Bank of America as credit
deteriorates
Wall Street analysts were quick to scale back their earnings
expectations for Bank of America Corp. after it pre-announced
third-quarter results, saying the company will face more credit woes as
the economy continues to weaken.
Financial Stocks: Fed plan to buy commercial paper lifts financial
stocks
U.S. financial stocks rose early Monday, inspired by a Federal Reserve
plan to begin buying commercial paper in an effort to free up short-term
liquidity in the credit markets. Commercial paper is the shortest-term
credit available and generally ranges in maturities from overnight to
several months.
Dow industrials up 160 points; Fed announcement on commercial paper triggers buying
Dow industrials up 160 points; Fed announcement on commercial paper
triggers buying
10/7/2008 9:43:13 AM
Monday, October 06, 2008
Market Briefing Newsletter for Monday, 10/6/2008
| Dow : 9955.50 down 369.88
| S & P : 1056.89 down 42.34
| NASDAQ: 1862.96 down 84.43
| Bond (10Y): 3.45%, 104.47
MARKETS:
Tough day for stocks
But losses are pared in half after Dow drop reaches 800 points on credit
crisis.
Nasdaq plunges to four-year low as tech stocks sell off
Nasdaq plunges to four-year low as tech stocks sell off
Technology stocks plunge as the growing worldwide financial crisis slams
the Nasdaq for losses of more than 8% - pushing the index to its lowest
point in four years.
Fed, Treasury take new steps to aid markets; key official named
The Federal Reserve and the Treasury Department announce new steps to
deal with the continuing turmoil in financial markets, including naming
the official to run the effort to buy so-called "toxic" mortgage
assets.
Fuld blames Lehman's fall on lack of confidence
Facing skeptical and angry members of Congress, Lehman CEO Richard Fuld
blamed the bankruptcy of his firm on a "lack of confidence", saying in
testimony he and other executives did everything they could to protect
the investment bank.
Economic Report: U.S. could recover in spring, economists' group says
Three weeks ago, economists surveyed by a leading trade association said
the U.S. economy would recover from the current recession in the second
quarter of next year, assuming the credit squeeze in global financial
markets improved gradually. But that was before a new round of credit
worries, bank failures and bailouts.
Dow down 800 points, extending decline on global credit crisis. Update soon.
Dow down 800 points, extending decline on global credit crisis. Update
soon.
Dow plummets 700 points as investor fears about global economy escalate.
Dow plummets 700 points as investor fears about global economy escalate.
Dow plunges 600 points as fears about global economic crisis grow.
Dow plunges 600 points as fears about global economic crisis grow.
Treasury, as part of swift implementation of bailout, issues interim rules on hiring of money managers and conflicts of interest.
Treasury, as part of swift implementation of bailout, issues interim
rules on hiring of money managers and conflicts of interest.
U.S. stocks tumble as global crisis persists
U.S. stocks tumble as global crisis persists
Stocks tumble, sending the Dow industrials below the 10,000 mark for the
first time in nearly four years, as last week's $700 billion bailout
package and government interventions in Europe over the weekend fail to
soothe nervousness in global markets.
Futures Movers: Crude futures fall below $90 on economic worries
Worries over the health of the global economy send crude-oil futures
tumbling, with the benchmark contract breaking below $90 a barrel.
Fed, Treasury announce new steps to aid markets
The Federal Reserve and the Treasury Department announce new steps to
deal with the continuing turmoil in financial markets.
Economic Report: U.S. to recover in spring, economists' group says
The U.S. economy will recover from the current recession in the second
quarter of next year, assuming the credit squeeze in global financial
markets improves gradually, according to a survey o by the National
Association for Business Economics.
Wells Fargo wins court rulings over Citi in Wachovia fight
Wells Fargo says its takeover agreement with Wachovia will go forward,
as an appellate court overturns an earlier decision to block its
acquisition of Wachovia in favor of rival bidder Citigroup, and as a
report says the Federal Reserve may seek to broker a deal.
U.S. stocks tumble as global crisis persists
U.S. stocks tumble as global crisis persists
Stocks tumble, sending the Dow industrials below the 10,000 mark for the
first time in nearly four years, as last week's $700 billion bailout
package and government interventions in Europe over the weekend fail to
soothe nervousness in global markets.
Futures Movers: Crude futures fall below $90 on economic worries
Worries over the health of the global economy send crude-oil futures
tumbling, with the benchmark contract breaking below $90 a barrel.
Fed, Treasury announce new steps to aid markets
The Federal Reserve and the Treasury Department announce new steps to
deal with the continuing turmoil in financial markets.
Economic Report: U.S. to recover in spring, economists' group says
The U.S. economy will recover from the current recession in the second
quarter of next year, assuming the credit squeeze in global financial
markets improves gradually, according to a survey o by the National
Association for Business Economics.
Wells Fargo wins court rulings over Citi in Wachovia fight
Wells Fargo says its takeover agreement with Wachovia will go forward,
as an appellate court overturns an earlier decision to block its
acquisition of Wachovia in favor of rival bidder Citigroup, and as a
report says the Federal Reserve may seek to broker a deal.
Dow industrials down 400 points
Dow industrials down 400 points
10/6/2008 10:28:31 AM
Dow plummets more than 300 points, falling below 10,000 for the first time in nearly 4 years, as anxiety over global slowdown grows.
Dow plummets more than 300 points, falling below 10,000 for the first
time in nearly 4 years, as anxiety over global slowdown grows.
U.S. stock indexes open more than 2% lower in opening minute of trading
U.S. stock indexes open more than 2% lower in opening minute of trading
10/6/2008 9:32:10 AM
Federal Reserve doubles to $300B the amount it will loan to financial institutions in need of short-term capital.
Federal Reserve doubles to $300B the amount it will loan to financial
institutions in need of short-term capital.
eBay slashes workforce by 10% and says third-quarter sales will hit low end of company's expectations. Announces two acquisitions.
eBay slashes workforce by 10% and says third-quarter sales will hit low
end of company's expectations. Announces two acquisitions.
