NYSE Dow Jones finished today at:

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The Dow Jones industrial average ended the week down 84.78, or 0.63 percent, at 13,365.87. The Standard & Poor's 500 index finished down 5.97, or 0.40 percent, at 1,478.49. The Nasdaq composite index ended down 17.53, or 0.65 percent, at 2,674.46.

The NYSE DOW closed HIGHER by +6.26 points +0.05% on friday December 28 :

Sym Last........ ........Change..........
Dow 13,365.87 +6.26 +0.05%
Nasdaq 2,674.46 -2.33 -0.09%
S&P 500 1,478.49 +2.12 +0.14%
30-yr Bond 4.5140% -0.1000

NYSE Volume 2,429,101,000
Nasdaq Volume 1,351,493,620

Overseas
Japan's Nikkei stock average fell 1.65 percent. Britain's FTSE 100 fell 0.32 percent and France's CAC-40 ended essentially flat.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,476.90 -20.90 -0.32%
DAX 8,067.32 +28.72 +0.36%
CAC 40 5,627.25 -0.23 -0.00%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 15,307.78 -256.91 -1.65%
Hang Seng 27,370.60 -472.33 -1.70%
Straits Times 3,445.82 -31.38 -0.90%

http://biz.yahoo.com/ap/071228/wall_street.html
Stocks End Mixed After Housing Data
Friday December 28, 6:05 pm ET
By Tim Paradis, AP Business Writer
Stocks Finish Narrowly Mixed After Sharp Drop in New Home Sales Stirs Concerns About Consumers

NEW YORK (AP) -- Wall Street finished an erratic week narrowly mixed Friday after a government report of a steep decline in new home sales stirred concerns that weakness in housing will continue to dog the economy. The major indexes lost ground for the week.

The Commerce Department report that new home sales fell 9 percent from October to a seasonally adjusted annual rate of 647,000 triggered renewed nervousness that consumers could become uneasy and tamp down their spending.

Stocks, which fell more than 1 percent Thursday following unwelcome economic readings and the assassination of Pakistani opposition leader Benazir Bhutto, fluctuated through the day Friday. The Chicago purchasing managers' index had for a time offered some support to investor sentiment Friday after it showed a stronger-than-expected increase for December manufacturing activity in the Midwest.

But Wall Street appeared unable to hold onto its enthusiasm for too long -- repeating a pattern that has become commonplace since the summer. Investors are eager for any economic data that can help illuminate whether weakness in the housing and financial sectors is undercutting the overall economy, possibly leading to a recession.

Quincy Krosby, chief investment strategist at The Hartford, contends the news from growth in Midwest manufacturing to the weak housing report could have an outsize effect on stocks because of the session's light volume.

"What you have is a very thinly traded market so any news, whether it's good news or bad news, can skew the market actually quite dramatically one way or the other," she said.

The Dow Jones industrial average rose 6.26, or 0.05 percent, to 13,365.87, after bobbing higher and lower throughout the session.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 2.12, or 0.14 percent, to 1,478.49, and the Nasdaq composite index fell 2.33, or 0.09 percent, to 2,674.46.

For the week, the Dow lost 0.63 percent, the S&P 500 slid 0.65 percent and the Nasdaq fell 0.55 percent.

Despite months of volatile trading that has seen stocks surge and then backslide, the indexes are going into the final trading session of 2007 with decent gains: The Dow is up 902.72, or 7.24 percent, while the S&P 500 is up 60.19, or 4.24 percent and the Nasdaq is up 259.17, or 10.73 percent.

This week saw the kind of choppy trading that is now typical in the stock market. Wall Street was lifted Monday by news of a $6.2 billion in Merrill Lynch & Co., a welcome development given the financial sector's continuing problems from the mortgage and credit crisis. But by Thursday, those gains were gone, wiped out as world political events reminded investors of the problems that still exist beyond the economic uncertainties in the U.S.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange. Consolidated volume came to 2.31 billion shares, up from 2.27 billion shares Thursday.

Bond prices rose sharply as investors looked for the assurances of U.S.-backed investments. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.12 percent from 4.19 percent late Thursday. The dollar was lower against most other major currencies, while gold prices rose.

Light, sweet crude fell 62 cents to settle at $96 per barrel on the New York Mercantile Exchange. Rising prices in recent days have renewed talk of breaching the psychological benchmark of $100. Oil hit a peak of $99.29 on Nov. 21.

Friday's economic readings painted a mixed picture, lending little help to stocks, which have been unable to carry out an end-of-the-year rally due to concerns that the economy will start contracting.

The pace of sales of new homes in November proved much weaker than economists had been expecting. Wall Street had predicted sales would drop about 1.8 percent to a pace of 715,000.

In a more optimistic sign for the economy, the purchasing managers index, considered a precursor of the national Institute for Supply Management report being released Wednesday, rose to 56.6 from 52.9 in November. Economists, on average, had been expecting a showing of 52.0, according to Dow Jones Newswires.

But the Chicago PMI's December employment index fell to 49.0 from 54.4 in the prior month. Wall Street regards solid employment as the crucial underpinning of the economy's well-being because it feeds consumer spending, which accounts for more than two-thirds of U.S. economic activity.

Krosby said the turmoil in Pakistan following the assassination of the country's former prime minister Benazir Bhutto could make investors leery of holding big positions heading into a holiday weekend.

While the markets are open Monday, many investors are likely to stay home ahead of New Year's Day.

"I don't think that anyone at this stage wants to stake out a new position," she said.

In corporate news, a New York state regulator said Warren Buffett's Berkshire Hathaway will receive a license to open a bond insurance business in the state. Berkshire Hathaway said Friday it agreed to buy NRG N.V., the reinsurance unit of ING Group said for about $435.7 million in cash.

Genesco Inc. jumped $5.44, or 16.5 percent, to $38.50 after a judge ruled The Finish Line Inc. cannot back out of its $1.5 billion purchase of Genesco. Finish Line fell 75 cents, or 24.6 percent, to $2.30.

The Russell 2000 index of smaller companies fell 1.75, or 0.23 percent, to 771.76.

Overseas, Japan's Nikkei stock average fell 1.65 percent. Britain's FTSE 100 fell 0.32 percent and France's CAC-40 ended essentially flat.

The Dow Jones industrial average ended the week down 84.78, or 0.63 percent, at 13,365.87. The Standard & Poor's 500 index finished down 5.97, or 0.40 percent, at 1,478.49. The Nasdaq composite index ended down 17.53, or 0.65 percent, at 2,674.46.

The Russell 2000 index finished the week down 13.84, or 1.76 percent, at 771.76.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,911.63, down 67.64 points, or 0.45 percent, for the week. A year ago, the index was at 14,324.84.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"


The NYSE DOW closed LOWER by -101.05 points -0.76% on Monday December 31 :

Sym Last........ ........Change..........
Dow 13,264.82 -101.05 -0.76%
Nasdaq 2,652.28 -22.18 -0.83%
S&P 500 1,468.36 -10.13 -0.69%
10 Yr Bond(%) 4.0350% -0.0610

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,456.90 -20.00 -0.31%
DAX 8,067.32 +28.72 +0.36%
CAC 40 5,614.08 -13.17 -0.23%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 15,307.78 -256.91 -1.65%
Hang Seng 27,812.65 +442.05 +1.62%
Straits Times 3,482.30 +36.48 +1.06%

http://biz.yahoo.com/ap/071231/wall_street.html
Stocks Fall on Last Day of '07
Monday December 31, 5:42 pm ET
By Madlen Read, AP Business Writer
Wall Street Wraps Up 2007 in a Somber Mood, but Dow Has Annual Gain of More Than 6 Percent

NEW YORK (AP) -- Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would bring more of the uncertainty and turbulence of 2007.

The Dow Jones industrials fell 101 points, the latest in a string of triple-digit moves that became commonplace in the just-ended year amid a continuum of bad news about housing, faltering mortgages and shrinking credit. Thanks to a big first-half advance, they managed to finish 2007 with a respectable increase of 6.43 percent -- not as large as the 16.29 percent jump in 2006, but a better performance than the modest loss in 2005.

The Dow's annual gain came even after it posted its worst fourth-quarter drop in 20 years, amid billion-dollar losses at the world's biggest financial firms and falling spending by consumers whose budgets have been crimped by record-high oil prices and declining home prices.

"Considering all that's going on, the market really acted pretty well," said Todd Leone, managing director of equity trading at Cowen & Co.

It's tough to say what the primary market driver of 2008 will be, but the stock market faces a slew of threats: more adjustable-rate mortgage resets, a still-tight credit market and the possibility of accelerating inflation. But Leone said the fourth-quarter earnings season in January should shed some light on how U.S. companies are surviving the recent slowdown and credit crunch.

There was more downbeat news on housing Monday. The National Association of Realtors said November existing home sales rose 0.4 percent to an annual rate of 5 million -- the first rise in nine months. However, sales are 20 percent below where they were a year ago, and the median existing home price has dropped 3.3 percent over the past 12 months.

Falling home prices have made it hard for struggling homeowners to refinance their mortgages, and the slump in construction activity has hurt homebuilders and other housing-related industries.

Still, there were some slivers of optimism Monday. The U.K.'s Observer newspaper reported Sunday that Merrill Lynch & Co. was in talks over the weekend to line up capital from investors in China and the Middle East in exchange for portions of the Wall Street firm.

Merrill, like many other financial houses, has seen its portfolio lose billions of dollar in value due to misplaced bets on mortgages. And as Citigroup Inc., UBS AG, Morgan Stanley and Bear Stearns Cos. have done, it has turned to investors in Asia for much-needed capital -- Merrill has already gotten $4.4 billion this month from a Singapore fund, which bought a 9.9 percent stake in the U.S. brokerage.

The Dow fell 101.05, or 0.76 percent, to 13,264.82. The blue-chip index remains below its Oct. 9 record high of 14,164.53, at which point it was up more than 13 percent year-to-date.

The Standard & Poor's 500 index and the technology-dominated Nasdaq composite index also declined Monday, but both posted annual gains for the fifth straight year.

The S&P 500 index fell 10.13, or 0.69 percent, to 1,468.36, to end 2007 with a gain of 3.53 percent. It had reached a record close of 1,565.15 on Oct. 9.

The Nasdaq fell 22.18, or 0.83 percent, to 2,652.28, to finish the year with a 9.81 percent gain. Despite the market's volatility, this was the best performance for the Nasdaq, still well below its tech boom highs, since 2003.

Government bonds rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slid to 4.03 percent from 4.12 percent late Friday, and is down nearly 17 percent for the year.

Declining issues narrowly outnumbered advancers on the New York Stock Exchange. Consolidated volume came to a light 2.38 billion shares, up slightly from 2.31 billion Friday.

2007 was a remarkable year on Wall Street. The market began the year continuing the rally that propelled the Dow above 12,000 for the first time in October. Then, in late February, came a reminder that stocks were capable of turning tail and plunging -- a skid on China's stock market and an ominous economic outlook from former Federal Reserve Chairman Alan Greenspan sent the Dow down 416 points in one day.

That panic didn't last long. In April, the Dow barreled above 13,000 for the first time and then glided past 14,000 in mid-July. But in late July, however, the market realized that the ongoing slump in housing, and a rise in mortgage foreclosures due to resetting adjustable-rate loans, was taking a toll across the credit markets.

Though the housing market started teetering as early as 2005, few people anticipated how much the downturn could affect the global financial system. Mortgages given to borrowers deemed "subprime" comprised only about an eighth of the $10 trillion U.S. mortgage market -- why would that rattle the world markets?

The problem was, these pieces of debt were chopped up, repackaged and woven into larger fixed-income instruments, on which banks and other investors made billion-dollar bets -- bets that were extremely profitable during the housing boom, but calamitous when borrowers couldn't keep up with their mortgage payments. When one slice of the instrument defaulted, it pulled the whole thing down with it.

Investors bailed out of anything tied to mortgages, and soon Wall Street discovered that financial institutions in the United States and overseas were holding billions of dollars in assets that were losing value by the day. The biggest names on the Street -- Merrill Lynch, Citigroup Inc., Bear Stearns Cos. -- announced billions of dollars in writedowns. Merrill and Citi lost their CEOs, and several financial firms sought out billion-dollar investments to clean up their balance sheets.

In the midst of this turmoil, the credit markets all but seized up, and all these interconnected events pummeled stocks. The Dow suffered triple-digit drops, recoveries and then drops again as Wall Street stumbled through months of volatility reminiscent of the terrible days after the 2001 terror attacks.

In August and September the Federal Reserve began to act, with interest rate cuts and injections of liquidity. It helped for a while, and in October, stocks were rallying again taking the Dow to another set of record highs -- only to succumb again to fears about the unknown extent of the credit mess.
Wall Street enters 2008 with that same concern, not to mention oil's surge this year of about 60 percent to nearly $100 a barrel, and the U.S. dollar's tumble to record lows against the euro. On Monday, the dollar rose against most other major currencies, gold prices fell, and crude oil prices slipped 2 cents to settle at $95.98 a barrel on the New York Mercantile Exchange.

"We've seen the return of volatility. I think that will be around for a while, and will govern trading for the new year," said Scott Fullman, director of investment strategy for I. A. Englander & Co. "Stock selection and strategy will play a very important part in the success of anybody who is trading going into the new year. This is not a time where you throw a dart at the board."

In 2007, the technology, energy, industrials and healthcare sectors did well, while the financial industry and small-caps -- usually fledgling companies that rely heavily on loans to grow their business -- lagged.

The biggest gainer among the 30 Dow components was Honeywell Inc., with an annual rise of 36 percent, and the biggest loser was Citigroup, with a loss of 47 percent.

The Russell 2000 index of smaller companies fell 5.73, or 0.74 percent, to 766.03 Monday. The small-cap index finished the year down 2.75 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -220.86 -1.67% on Wednesday January 2 :

Sym Last........ ........Change..........
Dow 13,043.96 -220.86 -1.67%
Nasdaq 2,609.63 -42.65 -1.61%
S&P 500 1,447.16 -21.20 -1.44%
10 Yr Bond(%) 3.9010% -0.1340

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,416.70 -40.20 -0.62%
DAX 7,949.11 -118.21 -1.47%
CAC 40 5,550.36 -63.72 -1.14%

Asia
Symbol..... Last...... .....Change.......
closed

http://biz.yahoo.com/ap/080102/wall_street.html
Stocks Drop on Weak Manufacturing Report
Wednesday January 2, 4:27 pm ET
By Tim Paradis, AP Business Writer
Stocks Pull Back After Weak Manufacturing Reading, Rising Oil Prices Stir Unease

NEW YORK (AP) -- Wall Street skidded lower Wednesday after a weaker-than-expected reading on the manufacturing sector and a spike in oil prices to $100 a barrel triggered concerns of a further slowdown in the overall economy.

The major indexes each lost more than 1 percent, with the Dow Jones industrials giving up more than 200 points. It was the blue chip index's biggest point decline for the first day of trading in a new year.

The Institute for Supply Management's report that its manufacturing index fell to 47.7 percent for December from 50.8 percent in November raised concerns that the economy could be slowing at a quicker pace than some investors had estimated. The reading below 50 signals economic contraction, whereas readings over 50 indicate expansion.

Analysts polled by Thomson/IFR had anticipated that manufacturing would expand modestly in December.

Light, sweet crude rose $3.64 to $99.62 per barrel on the New York Mercantile Exchange after earlier hitting $100 for the first time. The rise follows violence in the oil-producing nation of Nigeria, concerns about weather-related production halts in Mexico and speculation that inventory figures will show drops in levels of U.S. supplies.

The economic reading and rising oil prices were unwelcome for investors wading into the first trading session of 2008 and indicated the concerns that weighed on stocks in the second half of 2007 will for now persist.

"It certainly is a soft number and the declines in production and new orders are eye-catching," said Alan Levenson, chief economist at T. Rowe Price Associates Inc. "Overall, the ISM has generally been a decent guide for the economy. This is a sharp decline in one month."

Stocks failed to gain momentum after an initial bounce after minutes from the Federal Reserve's last meeting. Central bankers, who voted to raise interest rates a quarter percentage point, called the economic outlook "unusually uncertain." While that strengthened the case for lower rates, it also confirmed some of the market's worst fears about the economy.

According to preliminary calculations, the Dow Jones industrial average fell 220.86, or 1.67 percent, to 13,043.96. The blue chips briefly fell below 13,000 for the first time since November.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index slid 21.20, or 1.44 percent, to 1,447.16, and the Nasdaq composite index fell 42.65, or 1.61 percent, to 2,609.63.

Bond prices surged after the ISM report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.89 percent from 4.03 percent late Monday. The dollar was mixed against other major currencies, while gold prices reached a 28-year high.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.23 billion shares.

The weak manufacturing reading came as Wall Street entered 2008 still uneasy over the economy, specifically the state of the housing market and tightness in the credit markets brought on by fears of faltering mortgage debt. In addition, the health of the consumer is again in focus as investor are awaiting the government's December employment report, due Friday.

Investors weren't swayed by the release of the Fed's minutes from its Dec. 11 meeting. Central bankers cut rates amid worries about housing, credit and financial markets -- and kept all their options open for their next move, according to the minutes.

"We didn't really learn anything new," said Ryan Larson, senior equity trader with Voyageur Asset Management. "The Fed continues to be stuck between a rock and a hard place in terms of fighting inflation and managing U.S. growth."

The arrival of the new year was accompanied by a return of more of Wall Street's regular players. The recent weeks surrounding the holidays have seen light trading volume, making it hard to draw any meaningful reading on the market's mood. Moves higher or lower tend to be exaggerated amid light sessions.

In corporate news, National City Corp. fell 87 cents, or 5.3 percent, to $15.59 after halving its dividend and shutting down its wholesale mortgage business. The move, which eliminates 900 jobs, comes amid continued weakness in the housing and credit markets.

Chip stocks fell after Bank of America issued a bearish assessment for the sector. Intel Corp. fell $1.31, or 4.9 percent, to $25.35, while Advanced Micro Devices fell 36 cents, or 4.8 percent, to $7.14.

Amazon.com Inc. gained $3.61, or 3.9 percent, to $96.25 after Citi Investment Research raised its rating on the online retailer.

The Russell 2000 index of smaller companies fell 12.48, or 1.63 percent, to 753.55.

Overseas, Germany's DAX index fell 1.47 percent and France's CAC-40 lost 1.14 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +12.76 points +0.10% on Thursday January 4:

Sym Last........ ........Change..........
Dow 13,056.72 +12.76 +0.10%
Nasdaq 2,602.68 -6.95 -0.27%
S&P 500 1,447.16 0.00 0.00%
30-yr Bond 4.3690% +0.0170

NYSE Volume 3,423,483,750
Nasdaq Volume 1,982,130,000

Overseas
Britain's FTSE 100 closed up 0.98 percent, Germany's DAX index fell 0.51 percent, and France's CAC-40 slipped 0.08 percent.

Markets in Japan were closed for a bank holiday. Hong Kong's Hang Seng index fell 2.44 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,479.40 +62.70 +0.98%
DAX 7,908.41 -40.70 -0.51%
CAC 40 5,546.08 -4.28 -0.08%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 closed
Hang Seng 26,887.28 -673.24 -2.44%
Straits Times 3,397.06 -64.16 -1.85%

http://biz.yahoo.com/ap/080103/wall_street.html
Stocks Close Mixed Ahead of Jobs Report
Thursday January 3, 5:21 pm ET
By Tim Paradis, AP Business Writer
Stocks Mixed After Economic Reports; Market Awaits Friday Labor Reading

NEW YORK (AP) -- Wall Street closed narrowly mixed Thursday as investors traded cautiously ahead of the Labor Department's Friday reading on December employment. Inflation jitters remained high as oil prices set a new trading record above $100.

Investors who sent stocks skidding Wednesday amid economic concerns and rising oil prices initially took some solace in findings released Thursday by payroll company Automatic Data Processing. The ADP report said the economy added 40,000 private sector jobs last month, above the 30,000 forecast of economists polled by Dow Jones Newswires.

Also Thursday, the Labor Department said the number of newly laid off workers seeking unemployment benefits fell last week. But investors were mindful that these weekly readings can be volatile, and the latest reflected unusual factors related to the Christmas holiday. Wall Street has for weeks been holding out for Friday's December jobs snapshot. The Labor Department report should indicate whether the solid job market that existed last year can continue into 2008 and help sustain consumer spending.

Meanwhile, oil set a fresh trading record of $100.09 a barrel on the New York Mercantile Exchange after government figures showed a larger-than-expected decline in crude oil inventories. Analysts said more expensive oil is stirring some concerns about rising prices in general and whether the Federal Reserve would still have room to lower interest rates.

"We are worried about inflation," said Nicholas Raich, director of equity research at National City Private Client Group in Cleveland. "That's probably the biggest risk in 2008."

The Dow Jones industrial average rose 12.76, or 0.10 percent, to 13,056.72, after moving higher and lower over the course of the session.

Broader stock indicators were mixed. The Standard & Poor's 500 index was unchanged at 1,447.17, and the Nasdaq composite index slipped 6.95, or 0.27 percent, to 2,602.68.

"There was nothing that was really that helpful in the economic reports today. The jobless claims were a little bit better, but they're still in a sideways pattern ... and the four-week average keeps moving up," said Linda Duessel, market strategist at Federated Investors in Pittsburgh.

Light, sweet crude, easing back from its record with the normal ebb and flow of trading, fell 44 cents to settle at $99.18 a barrel on Nymex.

Bond prices rose as stocks retreated from earlier highs. The yield on the benchmark 10-year Treasury note, which trades opposite its price, dipped to 3.89 percent from 3.91 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

The market was waiting for Friday's jobs report because of the link between employment and consumer spending. A slowdown in spending among consumers fearful of losing their jobs, or not being able to find new ones, would be regarded as a heavy blow to the economy. The continuing rise in commodities prices, including a likely uptick in gasoline prices following spikes in oil, makes some investors nervous about the ability of consumers to keep spending apace.

Stocks drew some support from a Commerce Department report that orders to U.S. factories rose in November by the largest amount in four months. However, an important reading of business investment fell for a second straight month.

Concerns about the health of the overall economy weighed on stocks Wednesday and sent each of the major indexes down by more than 1 percent. The Dow Jones industrials lost more than 220 points.

In corporate news on Thursday, State Street Corp. rose $6.49, or 8.2 percent, to $85.37 after saying William W. Hunt resigned as president and chief executive of State Street Global Advisors. The move comes as the provider of mutual fund and pension-processing services prepares to book a $279 million fourth-quarter charge related to expected lawsuits over the weak performance of certain fixed-income strategies managed by the investment division.

Monsanto Co. rose $9.45, or 8.5 percent, to $120.92 after saying its first-quarter profit nearly tripled amid a strong performance by its Latin American business. The seed company raised its earnings forecast for the year.

Ford Motor Co. slipped 15 cents, or 2.3 percent, to $6.45 after saying that India's Tata Motors Ltd. was the top bidder for its Jaguar and Land Rover units. Ford said it has begun negotiations with Tata aimed at hammering out a sale agreement for the British car brands. The company said separately that its December U.S. sales fell amid lower demand for both cars and light trucks.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.32 billion shares.

The Russell 2000 index of smaller companies fell 8.54, or 1.13 percent, to 745.01.

In trading abroad, Britain's FTSE 100 closed up 0.98 percent, Germany's DAX index fell 0.51 percent, and France's CAC-40 slipped 0.08 percent. Markets in Japan were closed for a bank holiday. Hong Kong's Hang Seng index fell 2.44 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The NYSE DOW closed LOWER by -256.54 points -1.96% on Friday January 5:

Sym Last........ ........Change..........
Dow 12,800.18 -256.54 -1.96%
Nasdaq 2,504.65 -98.03 -3.77%
S&P 500 1,411.63 -35.53 -2.46%
30-yr Bond 4.3590% -0.0100

NYSE Volume 4,105,599,250
Nasdaq Volume 2,465,448,750

Overseas
Japan's Nikkei stock average fell sharply, finishing down 4.03 percent to its lowest level since July 2006 after being closed since the previous Friday for holidays. The pullback followed uncertainty on Wall Street about the U.S. economy and rising oil prices.

Britain's FTSE 100 fell 2.02 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 fell 1.79 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,348.50 -130.90 -2.02%
DAX 7,808.69 -99.72 -1.26%
CAC 40 5,446.79 -99.29 -1.79%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 14,691.41 -616.37 -4.03%
Hang Seng 27,519.69 +632.41 +2.35%
Straits Times 3,437.79 +40.73 +1.20%

http://biz.yahoo.com/ap/080104/wall_street.html
Stocks Sink on Jobs Data; Tech Plummets
Friday January 4, 4:23 pm ET
By Tim Paradis, AP Business Writer
Stocks Finish Lower After Slower-Than-Expected Jobs Growth, Rising Unemployment

NEW YORK (AP) -- Wall Street fell sharply again Friday after the government's much-anticipated employment report showed weaker-than-expected job growth and a rise in the unemployment rate. The Nasdaq composite index, also pummeled by a downgrade of Intel Corp., skidded more than 3.5 percent, while the Dow Jones industrials fell more than 1.5 percent.

The Labor Department's report that employers raised payrolls by only 18,000 and that the nation's unemployment rate rose to its highest level since November 2005 unnerved investors, who worried that a weakening job market will hurt consumer spending and tip the economy toward recession.

A better-than-expected reading on the nation's service economy briefly pulled stocks off their lows but wasn't enough to shake investors' concerns.

Investors had been awaiting the jobs report for weeks as they tried to determine whether the economy would continue to benefit from robust consumer spending even as sectors like home construction, mortgage writing and manufacturing slow. Wall Street is concerned that areas of weakness could puncture growth if consumers can't depend on a solid job market.

Manufacturers, construction companies and financial services companies all cut jobs during the month amid an anemic housing market. Retailers also made reductions.

The December report showed employers added the fewest jobs to their payrolls since August 2003. Economists had predicted a jobs growth figure of about 70,000 and an unemployment rate of 4.8 percent. Instead, unemployment climbed to 5 percent in December from 4.7 percent in November. While 5 percent unemployment is still considered good by historical standards, the increase from November clearly made some investors nervous.

"It's a scary number, no question about it. No matter how good you wanted to feel about the economy averting a recession, there is far less conviction than even two or three days ago," said Joe Balestrino, senior portfolio manager at Federated Investors.

According to preliminary calculations, the technology-focused Nasdaq fell for the sixth straight session and showed its steepest percentage decline since a market pullback on Feb. 27 last year. The Nasdaq declined 98.03, or 3.77 percent, to 2,504.65, in part after the downgrade of Intel, but also because its smaller-capitalization components are seen as more vulnerable in an economic slowdown.

The Dow fell 256.54, or 1.96 percent, to 12,800.18, while the Standard & Poor's 500 index declined 35.53, or 2.46 percent, to 1,411.63.

It was the steepest point drop for the Dow and the S&P 500 since Dec. 11.

The Russell 2000 index of smaller companies fell 23.44, or 3.14 percent, to 721.57 and hit a fresh 52-week low.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.65 billion shares, compared with 1.32 billion traded Thursday.

Bond prices rose as investors sought the safety of government-backed debt after the employment reading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.87 percent from 3.89 percent late Thursday.

A Federal Reserve announcement Friday that it is ramping up the amount of cash available to banks through a new auction process did little to calm the markets. After two auctions of $20 billion each, the Fed has now scheduled auctions Jan. 14 and Jan. 28 at $30 billion each.

The dollar was mixed against other major currencies. Gold prices, which have risen to nearly 30-year highs in recent days, declined.

Light, sweet crude fell $1.27 to settle at $97.91 a barrel on the New York Mercantile Exchange. Oil touched $100 per barrel this week for the first time, stirring concerns about inflation.

The employment figures overshadowed a report from the Institute for Supply Management, a business group, which said its December index of non-manufacturing activity showed the nation's service sector grew in December. However, the pace was slightly slower than in November and the index fell to 53.9 in December from 54.1 the prior month. Analysts had expected a deeper decline.

It's been a difficult start to 2008 on Wall Street. After selling off in the final session of last year on Monday, investors spent the first three sessions of the new year absorbing a weaker-than-expected reading on the manufacturing sector, oil that reached $100 a barrel and Friday's dismal employment numbers.

"It's hard to point to any piece of data in recent weeks that makes you feel comfortable," said Balestrino, noting that many bullish investors had hoped a strong jobs picture would lift Wall Street's mood.

"This the one piece that was holding up pretty well and now it's showing some weakness as well," he said. "In our business it's not the absolute number, it's the direction of the number and especially the direction versus the expectations."

In corporate news, a JPMorgan analyst lowered his rating on Intel to "neutral" from "overweight," citing a drop in chip orders from computer manufacturers during the fourth quarter and high inventories. Intel, one of the 30 stocks that comprise the Dow industrials, fell $2, or 8.1 percent, to $22.67.

Overseas, Japan's Nikkei stock average fell sharply, finishing down 4.03 percent to its lowest level since July 2006 after being closed since the previous Friday for holidays. The pullback followed uncertainty on Wall Street about the U.S. economy and rising oil prices.

Britain's FTSE 100 fell 2.02 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 fell 1.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[The Mint Man]

Hey ASFers,
BigDog has gone away for a few weeks and has asked me to post up the yahoo articles for him... so here goes

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,827.49 +27.31 +0.21%
Nasdaq 2,499.46 -5.19 -0.21%
S&P 500 1,416.18 +4.55 +0.32%
10 Yr Bond(%) 3.8390% -0.0150

Overseas
Overseas, Japan's Nikkei stock average closed down 1.30 percent. Britain's FTSE 100 fell 0.20 percent, Germany's DAX index added 0.11 percent, and France's CAC-40 was up 0.11 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,335.70 -12.80 -0.20%
DAX 7,817.17 +8.48 +0.11%
CAC 40 5,452.83 +6.04 +0.11%

Asia
Sym... Last........ ........Change..........
Nikkei 225 14,500.55 0.00 0.00%
Hang Seng 27,179.49 -340.20 -1.24%
Straits Times 3,353.06 0.00 0.00%

http://biz.yahoo.com/ap/080107/wall_street.html
Stocks End Mixed in Shaky Trading
Monday January 7, 4:32 pm ET
By Joe Bel Bruno, AP Business Writer

Stocks Mixed With 4Q Earnings Looming, As Investors Hope Fed Will Cut Rates to Fight Recession​

NEW YORK (AP) -- Wall Street ended an erratic session mixed Monday as investors grew more confident that the Federal Reserve will lower interest rates again to ward off recession and as they also wrestled with worries about the upcoming earnings season.

The market contended as well with a resurgence of tensions between the U.S. and Iran.

Investors have grown more optimistic about a rate cut at the Fed's Jan. 29-30 meeting after last week's disappointing reports on jobs and manufacturing pointed to a slowing in the economy last month. And, they might get some clues about the central bank's stance when its chairman, Ben Bernanke, delivers a speech on Thursday.

That optimism kept stocks from falling far during a session that saw the major indexes reverse course several time. But Wall Street remained uneasy as it awaited fourth-quarter earnings season, which unofficially starts Wednesday, when aluminum producer Alcoa Inc. posts results. Analysts said investors will be paying particular attention to financial services stocks that have been hit hard by the ongoing credit crisis.

"It's a directionless market with very little for investors to sink their teeth into," said Jack A. Ablin, chief investment officer at Harris Private Bank, of Monday's trading. He noted that the Standard & Poor's 500 stocks still appear overvalued right now ahead of a fourth-quarter earnings season that most investors are pessimistic about.

"The puzzle pieces are not aligning for the stock market right now," Ablin said.

A warning from the White House to Iran also kept volatility high, following an incident involving that country's forces and three U.S. Navy ships in the Strait of Hormuz on Sunday.

According to preliminary calculations, the Dow Jones industrial average rose 27.31, or 0.21 percent, to 12,827.49, after moving in and out of positive territory throughout the session.

Broader stock indicators ended mixed. The Standard & Poor's 500 index rose 4.55, or 0.32 percent, to 1,416.18, and the tech-focused Nasdaq composite index fell 5.19, or 0.21 percent, to 2,499.46.

It was seventh straight session of losses for the Nasdaq, which greatly outperformed the Dow and the S&P in 2007.

Last week, in just the first three trading days of 2008, the Dow lost 3.50 percent, the S&P 500 index fell 3.86 percent, and the Nasdaq dropped 5.57 percent.

Bond prices continued to rise Monday after a rally during the past week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.84 percent from 3.87 percent late Friday.

"I have the feeling the market wants to hear some good news, and that one of these days we're going to get it and see a tremendous move higher," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. "We pretty much know the Fed is going to lower rates again, but the real catalyst might come from some of these earnings reports."

A speech on the housing market by Treasury Secretary Henry Paulson Monday offered little in a way of consolation for the market. Paulson said a correction in the housing market is "inevitable and necessary," and that while the Bush administration is working to solve the mortgage crisis, "there is no single or simple solution that will undo the excesses of the last few years."

The potential of conflict with Iran, one of the world's largest oil producers, triggered some concerns that crude prices would build on last week's record $100 a barrel. But instead, oil fell on the belief a cooling global economy will decrease demand for energy.

A barrel of light sweet crude tumbled $2.82 at $95.09 on the New York Mercantile Exchange. The dollar rose against most major currencies, while gold declined.

In corporate news, Time Warner Inc. fell 11 cents to $15.80 after the entertainment company announced it plans to release high-definition movies on Blu-ray rather than Toshiba Corp.'s HD DVD formal. Blu-ray is owned by Sony Corp.

Napster Inc. fell 2 cents to $1.97 after the online music service announced plans to offer downloads as unprotected MP3 files. Previously, users were not able to play Napster downloads on music players.

Technology stocks could fluctuate further as more news comes out of the Consumer Electronics Show, being held in Las Vegas this week.

Krispy Kreme Doughnuts Inc. Chief Executive Daryl Brewster resigned for personal reasons, amid a sputtering turnaround effort for the Winston-Salem, N.C.-based company. Shares rose 32 cents, or 11.3 percent, to $3.15.

There was also management reshuffling at Sallie Mae, which rose $1.16, or 7 percent, to $17.83 after plunging Friday. SLM Corp. named veteran banking industry executive Anthony P. Terracciano chairman, while Albert L. Lord, who was chairman for three weeks, was appointed vice chairman and will remain CEO.

The Russell 2000 index of smaller companies advanced 2.36, or 0.33 percent, to 723.96.

Advancing issues outpaced decliners by 9 to 7 on the New York Stock Exchange, where volume came to 1.71 billion shares.

Overseas, Japan's Nikkei stock average closed down 1.30 percent. Britain's FTSE 100 fell 0.20 percent, Germany's DAX index added 0.11 percent, and France's CAC-40 was up 0.11 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Hope this meets the standards

Cheers

 

[bigdog]

Hey ASFers,
BigDog has gone away for a few weeks and has asked me to post up the yahoo articles for him... so here goes

Cheers

The Mint Man, many thanks and well done
--- I would appreciate if you could update until February 1.

Bigdog (four hours behind in Thailand)

 

[The Mint Man]

The Mint Man, many thanks and well done
--- I would appreciate if you could update until February 1.
Bigdog (four hours behind in Thailand)

No problem bigdog, however I just realised that on fridays I will not be able to post it up in the morning as I start work very early on fridays.... so not sure what to do there.
By the way you picked a good week for me to start doing this all bad news ATM
Possibly we can follow all other markets but the US as they didn't have such a bad day
Anyways....

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,589.07 -238.42 -1.86%
Nasdaq 2,440.51 -58.95 -2.36%
S&P 500 1,390.19 -25.99 -1.84%
10 Yr Bond(%) 3.8400% +0.0010

Overseas
Overseas, Japan's Nikkei stock average rose 0.19 percent, and Hong Kong's Hang Seng index fell 0.25 percent. Britain's FTSE 100 rose 0.33 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.79 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,356.50 +20.80 +0.33%
DAX 7,849.99 +32.82 +0.42%
CAC 40 5,495.67 +42.84 +0.79%


Asia
Sym... Last........ ........Change..........
Please refer to above, 'Overseas', as Yahoo's Market Summary was showing nil for all.

http://biz.yahoo.com/ap/080108/wall_street.html
Housing Woes, AT&T News Sink Stocks
Tuesday January 8, 4:50 pm ET
By Madlen Read, AP Business Writer

Stocks Slide on Worries About Countrywide, AT&T, Pending Home Sales Drop​

NEW YORK (AP) -- Wall Street skidded lower in another erratic session Tuesday as investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial Corp., but also create problems for other companies like AT&T Inc. The Dow Jones industrials fell nearly 240 points.

Investors tried to take the market higher at many points during the day, but eventually succumbed to another stream of bad news. All three indexes are down substantially so far this year, having been pummeled since Jan. 1 on worse-than-anticipated readings on the economy.

That could mean that fourth-quarter earnings reports, which start pouring in later this week, may not meet already lowered expectations.

In the morning, the National Association of Realtors said its index tracking pending U.S. home sales fell 2.6 percent in November, a larger decline than the market expected. Jitters about Countrywide and KB Home, which posted a disappointing fourth quarter loss, kept Wall Street on edge throughout the day, and comments by President Bush reiterating the problems facing the economy likely added to the market's uneasiness.

Many traders have been betting recently that Countrywide might need to file for bankruptcy. Countrywide denied that rumor Tuesday, but its stock still plunged 28 percent. Lehman Brothers said in a note that Countrywide's earnings power has declined severely, and The New York Times reported the company fabricated documents related to the bankruptcy case of a Pennsylvania homeowner.

Late in the day, the chief executive of AT&T, speaking at a conference, said the phone company was seeing some slowdown in its consumer businesses, though not in wireless. That was the last straw for the market, and sent stocks and the major indexes tumbling.

The day's abortive advance was due in part to rising hopes that the Federal Reserve, seeing the same bleak economic numbers as Wall Street, will continue its campaign of rate cuts to prevent a recession. The Fed meets Jan. 29-30.

"Anything that talks of contagion spreading to the general economy ... will definitely spook the market," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co., referring to the softness AT&T is seeing. "The Fed still has more work to do. They're clearly cutting rates into economic weakness, which to many means that they're somewhat behind the curve. And that's a concern for investors."

According to preliminary calculations, the Dow Jones industrial average fell 238.42, or 1.86 percent, to 12,589.07, after ratcheting up and down through the day.

Broader stock indicators also sank. The Standard & Poor's 500 index dropped 25.99, or 1.84 percent, to 1,390.19, and the Nasdaq composite index, reflecting uneasiness about tech stocks after AT&T's news, declined 58.95, or 2.36 percent, to 2,440.51.

Bond prices showed little movement. The yield on the benchmark 10-year Treasury note, which moves opposite its price, stood at 3.84 percent, flat with late Monday.

Recession fears have been thwarting stock rally attempts so far this year, said Richard Sparks, senior equities analyst at Schaeffer's Investment Research. "It's difficult to balance the ability to cut rates to stave off a recession with the stated goal that the Fed has to not spur inflation. There's a question out there -- can the Fed do enough?"

Last week's Labor Department report showing a rise in unemployment to 5 percent and meager jobs growth suggested to Wall Street that it had been too confident last year in the economy's to shake off a sinking housing market.

Philadelphia Fed President Charles Plosser said in a speech the central bank remains open to further rate reductions, but that inflation remains a concern.

Gold prices surpassed their 1980 levels and reached a record above $880 an ounce Tuesday on the New York Mercantile Exchange, while crude prices resumed their climb, rising $1.24 to $96.33 a barrel.

The dollar fell against most rival currencies, except the yen.

Alcoa Inc. on Wednesday officially kicks off the fourth-quarter earnings season, which investors are pessimistic about.

"The picture doesn't look good right now and the fear is that what we saw through the economic data points last week will be carried through to corporate earnings," said Ryan Larson, senior equity trader with Voyageur Asset Management.

Countrywide fell $5.47, or 28 percent, to $5.47.

KB Home fell $1.70, or 9.2 percent, to $16.78.

AT&T fell $1.87, or 4.6 percent, to $39.16.

Declining issues outnumbered advancers by nearly 2 to 1 on the New York Stock Exchange, where volume came to 1.84 billion shares.

The Russell 2000 index of smaller companies fell 19.09, or 2.64 percent, to 704.86.

Overseas, Japan's Nikkei stock average rose 0.19 percent, and Hong Kong's Hang Seng index fell 0.25 percent. Britain's FTSE 100 rose 0.33 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[barnz2k]

By the way you picked a good week for me to start doing this all bad news ATM
Possibly we can follow all other markets but the US as they didn't have such a bad day
Anyways....

Does this mean when Big Dog comes back he will be posting GOOD news??

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,735.31 +146.24 +1.16%
Nasdaq 2,474.55 +34.04 +1.39%
S&P 500 1,409.13 +18.94 +1.36%
10 Yr Bond(%) 3.7910% -0.0490

Overseas
Overseas, Japan's Nikkei stock average closed up 0.49 percent. Britain's FTSE 100 fell 1.32 percent, Germany's DAX index dropped 0.86 percent, and France's CAC-40 fell 1.10 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,272.70 -83.80 -1.32%
DAX 7,782.71 -67.28 -0.86%

Asia
Sym... Last........ ........Change..........
Hang Seng 27,615.85 +502.95 +1.86%

http://biz.yahoo.com/ap/080109/wall_street.html
Stocks Close Higher After Late Rally
Wednesday January 9, 4:40 pm ET
By Tim Paradis, AP Business Writer

Stocks Rebound in Fractious Session As Investors Seek Bargains; Economic Concerns Remain​

NEW YORK (AP) -- Wall Street finished a back-and-forth session sharply higher Wednesday as investors sought bargains while also contending with concerns about the strength of the economy and upcoming corporate results.

The Nasdaq composite index showed its first gain in nine sessions and the Dow Jones industrial average gained more 200 points in the final 90 minutes of the session to finish nearly 150 points higher.

The gains at the end of a fractious session came ahead of a fourth-quarter report from Alcoa Inc., which marked the unofficial start of earnings season.

Wednesday's session was as choppy as Tuesday's, when stocks tumbled amid concerns about the economy. Unease about the economy has caused intense market volatility since the start of the year, with stocks rising on hopes for more interest rate cuts, and plunging as investors doubt that will be enough. The market is also worried about how fallout from the mortgage and credit crisis has affected corporate earnings.

A prediction of a recession in 2008 by Wall Street's biggest investment bank at times appeared to weigh on investors. Goldman Sachs said it expects fallout from the housing slump and recent tightness in the credit markets will spread to the broader economy this year.

Countrywide Financial Corp. may have added to the seesaw trading, saying Wednesday that the delinquency and foreclosure rate of home loans in its portfolio surged in December. The stock in the nation's largest mortgage lender had fallen sharply Tuesday amid bankruptcy rumors that the company said were baseless. Countrywide fell 35 cents, or 6.4 percent, to $5.12.

Wednesday brought little in the way of economic news and investors instead awaited a speech by Federal Reserve Chairman Ben Bernanke set for Thursday that could give clues about the central bank's stance on the weakening economy.

The up-and-down days on Wall Street are likely to continue as investors grapple with their concerns about the economy, according to Thomas Nyheim, vice president and portfolio manager at Christiana Bank & Trust Co.

"Things are definitely slowing. The problem is, the more and more economists and strategists come out and say things are slowing, you could get a real downturn," he said. He said the market's pullback, however, has left stock prices at more appropriate levels.

According to preliminary calculations, the Dow rose 146.24, or 1.16 percent, to 12,735.31.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 18.94, or 1.36 percent, to 1,409.13, and the Nasdaq composite index, which had been down more than 1 percent during the session, finished up 34.04, or 1.39 percent, at 2,474.55.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 2.06 billion shares compared with 1.84 billion shares traded Tuesday.

The rebound Wednesday wasn't large enough to pull the Dow from the realm of a correction, which is a 10 percent drop from a recent high. The blue chip index is still off 10.1 percent from its Oct. 9 high. The S&P 500 is now down 9.97 percent from its high.

Bond prices rose Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.84 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 72 cents to $95.61 a barrel on the New York Mercantile Exchange after a government report showed domestic inventories declined last week.

Alcoa reported after the closing bell that its fourth-quarter profit rose to $632 million, or 75 cents per share, from $359 million, or 41 cents a share, a year earlier. Wall Street had been hoping the results would help indicate how well the economy was holding up. Alcoa, one of the 30 stocks that comprise the Dow industrials, finished up 25 cents to $31.25 and rose to $31.94 in after-hours trading.

Troubled discount brokerage E-Trade Financial Corp., which Tuesday saw shares dip to an all-time low on growing mortgage segment losses, said it sold about $3 billion of mortgage-backed securities and municipal bonds on top of the November sale of its $3 billion asset-backed portfolio. E-Trade rose 15 cents, or 6.7 percent, to $2.40.

Chemical maker DuPont Co. rose $2.03, or 4.8 percent, to $44.78 after raising its fiscal 2007 profit forecast, citing better-than-expected fourth-quarter sales. The company, which makes a wide range of products including automotive coatings and genetically modified seeds, also lifted its forecast for 2008.

James Cayne stepped down as chief executive of Bear Stearns Cos. He was replaced by Bear Stearns President Alan Schwartz, a 57-year-old investment banker respected for his dealmaking savvy. Bear Stearns rose $3.65, or 5.1 percent, to $74.82.

The Russell 2000 index of smaller companies rose 7.26, or 1.03 percent, to 712.12.

Overseas, Japan's Nikkei stock average closed up 0.49 percent. Britain's FTSE 100 fell 1.32 percent, Germany's DAX index dropped 0.86 percent, and France's CAC-40 fell 1.10 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Cheers

 

[The Mint Man]

Does this mean when Big Dog comes back he will be posting GOOD news??

At last..... I actually felt sort of good about posting this up:bowdown:

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER by +117.78 points +0.92% on Thursday 10:

Sym Last........ ........Change..........
Dow 12,853.09 +117.78 +0.92%
Nasdaq 2,488.52 +13.97 +0.56%
S&P 500 1,420.33 +11.20 +0.79%
30-yr Bond 4.4440% +0.1230

NYSE Volume 5,132,240,500
Nasdaq Volume 2,640,403,500

Overseas
Japan's Nikkei stock average fell 1.45 percent.

Britain's FTSE 100 fell 0.80 percent, Germany's DAX index dropped 0.89 percent, and France's CAC-40 declined 0.64 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,222.70 -50.00 -0.80%
DAX 7,713.09 -69.62 -0.89%
CAC-40 5,400.43 -34.99 -0.64%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 14,388.11 -211.05 -1.45%
Hang Seng 27,230.86 -384.99 -1.39%
Straits Times 3,344.53

Australia
ASX All Ords 6,147.30 -12.20 -0.20%

http://biz.yahoo.com/ap/080110/wall_street.html
Stocks Rise on Potential Countrywide Buy
Thursday January 10, 5:20 pm ET
By Madlen Read, AP Business Writer
Stocks Rise on Report That Bank of America Is in Advanced Talks to Buy Countrywide

NEW YORK (AP) -- A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a report that Bank of America Corp. is close to buying struggling mortgage lender Countrywide Financial Corp.

After seesawing earlier in the day, the Dow Jones industrials finished up nearly 120 points on the afternoon report from The Wall Street Journal. The stock market has been buffeted by concerns about fallout from the mortgage and credit crisis. Countrywide's problems with delinquent and defaulting loans have sent stocks falling even in recent days.

"For the last month, rumors are that Countrywide was going into bankruptcy," said Ryan Larson, senior trader at Voyageur Asset Management. "Any deal with Bank of America is good news, and the market is looking for even a hint of good news these days."

Credit concerns were one reason the market waffled in earlier trading, with investors trying to reconcile comments on the economy from Federal Reserve Chairman Ben Bernanke and Kansas City Fed President Thomas Hoenig.

Stocks jumped after Bernanke said the Fed was ready to lower interest rates again to ward off a recession: "We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks," Bernanke said.

But they bobbled up and down before turning narrowly mixed after Hoenig said later that inflation remains a concern and the stock market is "not the center of our attention." The comments kept alive fears that the Fed may not respond to investor concerns even as it monitors the weakening economy.

Jim Herrick, manager of equity trading at Baird & Co., said many investors have been betting for some time that the Fed will lower rates by a half-point at their next meeting, so Bernanke's comments are hardly surprising. "There's still subprime issues. We still have concerns about earnings, and the mortgage market."

Furthermore, Wall Street is worried that it will take a lot more than rate cuts to restore economic momentum.

The Dow Jones industrial average rose 117.78, or 0.92 percent, to 12,853.09.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 11.20, or 0.79 percent, to 1,420.33, while the technology-heavy Nasdaq composite index rose 13.97, or 0.56 percent, to 2,488.52.

Bond prices fell as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.88 percent, up from 3.83 percent late Wednesday.

The stock market has rebounded over the past two days in volatile trading, having fallen sharply since the beginning of the year on worries about a recession. Some observers say the rush of corporate news expected in the coming weeks could overshadow discussions about the Fed, whose rate-setting committee isn't scheduled to meet again until Jan. 29-30.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said that while Fed comments move the market in the short-term, "for the next couple of weeks, though, take a hard look at earnings."

The weakest sector over last few quarters has been the financial sector, which is why the possible buy of Countrywide by Bank of America -- which invested $2 billion in the lender back in August -- came as a relief, suggesting to investors that some banks are strong enough to come to the aid of others.

Countrywide surged $2.63, or 51.3 percent, to $7.75, and Bank of America rose 56 cents to $39.30.

The industry has a lot more recovery ahead of it, though.

Capital One Financial Corp. said Thursday it is taking a $1.9 billion provision for loan losses in the fourth quarter, including about $1.3 billion in charge-offs. The announcement confirmed fears of some analysts that the erosion of the subprime mortgage market has hurt other credit classes. Capital One fell 43 cents to $42.92.

The Russell 2000 index of smaller companies rose 8.09, or 1.14 percent, to 720.21.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 2.06 billion shares.

The dollar fell against other major currencies. Gold rose to another record on the New York Mercantile Exchange, while crude oil fell $1.96 to $93.71 a barrel.

Overseas, Japan's Nikkei stock average fell 1.45 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index dropped 0.89 percent, and France's CAC-40 declined 0.64 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -246.79 points -1.92% on Friday 11:

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

Sym Last........ ........Change..........
Dow 12,606.30 -246.79 -1.92%
Nasdaq 2,439.94 -48.58 -1.95%
S&P 500 1,401.02 -19.31 -1.36%
30-yr Bond 4.3940% -0.0500

NYSE Volume 4,497,822,000
Nasdaq Volume 2,403,707,250

Overseas
Japan's Nikkei stock average closed down 1.93 percent.

Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,202.00 -20.70 -0.33%
DAX 7,717.95 +4.86 +0.06%
CAC 40 5,371.41 -29.02 -0.54%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 14,110.79 -277.32 -1.93%
Hang Seng 26,867.01 -363.85 -1.34%
Straits Times 3,344.53 +3,344.53 0.00%

Australia
Symbol.. Last...... ...Change.......
ASX 100 4,835.30 -77.60 -1.58%
ASX All Ords 6,054.40 -92.90 -1.51%

http://biz.yahoo.com/ap/080111/wall_street.html
Stocks Slammed by Bad Credit Fears
Friday January 11, 6:08 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall Sharply Amid Worries Over Investment Bank Writedowns, Anxiety About Earnings

NEW YORK (AP) -- Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under the weight of a slowing economy. The major indexes each lost more than 1 percent, including the Dow Jones industrials, which finished down nearly 250 points.

The arrival of quarterly earnings reports has investors worried about how banks and brokerages have fared after suffering losses in the collapse of the subprime mortgage market. Traders appeared to grow more pessimistic ahead of reports due next week from the nation's biggest financial institutions. Merrill Lynch & Co., Citigroup Inc. and JPMorgan Chase & Co. are slated to weigh in next week.

Adding to investors' unease, Merrill Lynch might take a $15 billion hit from its exposure to soured subprime mortgage investments, according to The New York Times. The nation's largest brokerage is also said to be seeking another capital infusion to help shore up its balance sheet.

Investors also grew nervous after American Express Corp. warned that slower spending and more delinquencies on credit card payments will hamper profit throughout 2008. A profit warning from Tiffany & Co. added to Wall Street's unease about the fortitude of the consumer.

"When Amex comes out and says that some of their well-to-do cardholders are having problems making payments that's just not good news," said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

Friday's session revealed the extent of misgivings about Wall Street's efforts to sew up its troubles. Bank of America Corp. agreed Friday to buy Countrywide Financial Corp. for $4 billion, a deal that rescues the country's largest mortgage lender but pays less than the company's market value.

The agreement comes after word of the move Thursday and just months after BofA invested $2 billion in Countrywide. Some investors apparently hoped Countrywide would fetch a premium, though some observers said a tie-up was a better alternative than bankruptcy, rumors of which dogged the company during the week.

Michael Church, portfolio manager at Church Capital Management, said news from the financials is weighing on Wall Street, although he said investors shouldn't be surprised by the extent of the troubles.

"The financials are going to continue to be a problem," he said.

The Dow fell 246.79, or 1.92 percent, to 12,606.30. The Dow had been down more than 300 points in the last hour.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.31, or 1.36 percent, to 1,401.02, and the Nasdaq composite index fell 48.58, or 1.95 percent, to 2,439.94.

Stocks have skidded lower in the new year, with the Dow often falling by triple digits in a single session amid anxiety about a possible recession as well as the still-unfolding fallout from the mortgage crisis.

The Dow is down 4.96 percent for the year, the S&P is off 4.59 percent, and the Nasdaq has lost 8.01 percent.

"I think we're going to see this volatility at least through the end of the earnings season," Thomas said.

Bond prices rose as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent late Friday from 3.88 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose to a fresh record.

Oil prices were pressured by gains for the dollar against the euro and pound. Crude oil is a dollar-denominated commodity and tends to decline in value when the dollar rises. This is because it takes less money to buy the same amount. A barrel of light, sweet crude for February settled down $1.02 at $92.69 on the New York Mercantile Exchange.

Washington Mutual Inc. jumped 53 cents, or 3.7 percent, to $14.69 after CNBC reported JPMorgan is in talks to acquire the nation's largest savings and loan. JPMorgan fell 47 cents to $40.86.

Bank of America fell 80 cents, or 2 percent, to $38.50, while Countrywide fell $1.42, or 18 percent, to $6.33.

American Express fell $4.92, or 10.1 percent, to $44 and was the biggest decliner among the 30 stocks that comprise the Dow industrials. McDonald's Corp., also part of the Dow, fell $3.85, or 6.6 percent, to $54.32 after a Friedman Billings Ramsay analyst expressed doubt about the company's future earnings.

Traders showed little reaction to a Commerce Department report that higher energy prices drove the nation's trade deficit in November to its highest level in more than a year. The government said the gap shot up 9.3 percent to $63.1 billion, the widest since September 2006 and up from $57.8 billion in October. Economists surveyed by Thomson/IFR Markets forecast a trade gap of $58.6 billion.

Separately, there was good news on inflation in December, when import prices were unchanged, the Labor Department said.

Federal Reserve Governor Frederic Mishkin said the Fed will act decisively to counter risks to the economy and added that swift rate cuts can hasten the economy's return to normal. But Mishkin also said the financial markets are overly focused on the central bank's actions.

Boston Fed President Eric Rosengren said housing price declines could accelerate this year if the economy is not strong. Mishkin and Rosengren followed Fed Chairman Ben Bernanke, who on Thursday made clear in a speech that the central bank is poised to cut interest rates later this month.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.03 billion traded Thursday.

The Russell 2000 index of smaller companies fell 15.56, or 2.16 percent, to 704.65.

Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

The Russell 2000 index finished the week down 16.95, or 2.35 percent, at 704.65.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,042.54, down 168.30 points, or 1.18 percent, for the week. A year ago, the index was at 14,350.24.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,606.30 -246.79 -1.92%
Nasdaq 2,439.94 -48.58 -1.95%
S&P 500 1,401.02 -19.31 -1.36%
10 Yr Bond(%) 3.81% -0.08


Week ending
The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

Overseas
Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,202.00 -20.70 -0.33%
DAX 7,717.95 +4.86 +0.06%

Asia
Sym... Last........ ........Change..........
Nikkei 225 14,110.79 -277.32 -1.93%
Hang Seng 26,867.01 -363.85 -1.34%

Stocks Slammed by Bad Credit Fears
Friday January 11, 6:08 pm ET
By Tim Paradis, AP Business Writer

Stocks Fall Sharply Amid Worries Over Investment Bank Writedowns, Anxiety About Earnings​

NEW YORK (AP) -- Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under the weight of a slowing economy. The major indexes each lost more than 1 percent, including the Dow Jones industrials, which finished down nearly 250 points.

The arrival of quarterly earnings reports has investors worried about how banks and brokerages have fared after suffering losses in the collapse of the subprime mortgage market. Traders appeared to grow more pessimistic ahead of reports due next week from the nation's biggest financial institutions. Merrill Lynch & Co., Citigroup Inc. and JPMorgan Chase & Co. are slated to weigh in next week.

Adding to investors' unease, Merrill Lynch might take a $15 billion hit from its exposure to soured subprime mortgage investments, according to The New York Times. The nation's largest brokerage is also said to be seeking another capital infusion to help shore up its balance sheet.

Investors also grew nervous after American Express Corp. warned that slower spending and more delinquencies on credit card payments will hamper profit throughout 2008. A profit warning from Tiffany & Co. added to Wall Street's unease about the fortitude of the consumer.

"When Amex comes out and says that some of their well-to-do cardholders are having problems making payments that's just not good news," said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

Friday's session revealed the extent of misgivings about Wall Street's efforts to sew up its troubles. Bank of America Corp. agreed Friday to buy Countrywide Financial Corp. for $4 billion, a deal that rescues the country's largest mortgage lender but pays less than the company's market value.

The agreement comes after word of the move Thursday and just months after BofA invested $2 billion in Countrywide. Some investors apparently hoped Countrywide would fetch a premium, though some observers said a tie-up was a better alternative than bankruptcy, rumors of which dogged the company during the week.

Michael Church, portfolio manager at Church Capital Management, said news from the financials is weighing on Wall Street, although he said investors shouldn't be surprised by the extent of the troubles.

"The financials are going to continue to be a problem," he said.

The Dow fell 246.79, or 1.92 percent, to 12,606.30. The Dow had been down more than 300 points in the last hour.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.31, or 1.36 percent, to 1,401.02, and the Nasdaq composite index fell 48.58, or 1.95 percent, to 2,439.94.

Stocks have skidded lower in the new year, with the Dow often falling by triple digits in a single session amid anxiety about a possible recession as well as the still-unfolding fallout from the mortgage crisis.

The Dow is down 4.96 percent for the year, the S&P is off 4.59 percent, and the Nasdaq has lost 8.01 percent.

"I think we're going to see this volatility at least through the end of the earnings season," Thomas said.

Bond prices rose as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent late Friday from 3.88 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose to a fresh record.

Oil prices were pressured by gains for the dollar against the euro and pound. Crude oil is a dollar-denominated commodity and tends to decline in value when the dollar rises. This is because it takes less money to buy the same amount. A barrel of light, sweet crude for February settled down $1.02 at $92.69 on the New York Mercantile Exchange.

Washington Mutual Inc. jumped 53 cents, or 3.7 percent, to $14.69 after CNBC reported JPMorgan is in talks to acquire the nation's largest savings and loan. JPMorgan fell 47 cents to $40.86.

Bank of America fell 80 cents, or 2 percent, to $38.50, while Countrywide fell $1.42, or 18 percent, to $6.33.

American Express fell $4.92, or 10.1 percent, to $44 and was the biggest decliner among the 30 stocks that comprise the Dow industrials. McDonald's Corp., also part of the Dow, fell $3.85, or 6.6 percent, to $54.32 after a Friedman Billings Ramsay analyst expressed doubt about the company's future earnings.

Traders showed little reaction to a Commerce Department report that higher energy prices drove the nation's trade deficit in November to its highest level in more than a year. The government said the gap shot up 9.3 percent to $63.1 billion, the widest since September 2006 and up from $57.8 billion in October. Economists surveyed by Thomson/IFR Markets forecast a trade gap of $58.6 billion.

Separately, there was good news on inflation in December, when import prices were unchanged, the Labor Department said.

Federal Reserve Governor Frederic Mishkin said the Fed will act decisively to counter risks to the economy and added that swift rate cuts can hasten the economy's return to normal. But Mishkin also said the financial markets are overly focused on the central bank's actions.

Boston Fed President Eric Rosengren said housing price declines could accelerate this year if the economy is not strong. Mishkin and Rosengren followed Fed Chairman Ben Bernanke, who on Thursday made clear in a speech that the central bank is poised to cut interest rates later this month.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.03 billion traded Thursday.

The Russell 2000 index of smaller companies fell 15.56, or 2.16 percent, to 704.65.

Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

The Russell 2000 index finished the week down 16.95, or 2.35 percent, at 704.65.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,042.54, down 168.30 points, or 1.18 percent, for the week. A year ago, the index was at 14,350.24.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,778.15 +171.85 +1.36%
Nasdaq 2,478.30 +38.36 +1.57%
S&P 500 1,416.25 +15.23 +1.09%
10 Yr Bond(%) 3.79% -0.02

Overseas
Overseas, the Tokyo stock market was closed for a holiday Monday. In Europe London's FTSE 100 rose 0.22 percent, Germany's DAX advanced 0.18 percent and Paris' CAC 40 gained 0.60 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,215.70 +13.70 +0.22%
DAX 7,732.02 +14.07 +0.18%

Asia
Sym... Last........ ........Change..........
Hang Seng 26,468.13 -398.88 -1.48%

Stocks Rally on Robust IBM Results
Monday January 14, 4:22 pm ET
By Leslie Wines, AP Business Writer

Wall Street Advances Sharply After IBM Earnings Forecast Lifts Hopes for Earnings Season​

NEW YORK (AP) -- Wall Street advanced sharply Monday, with solid preliminary results from IBM encouraging investors to go back into the stock market after last week's rout.
International Business Machines Corp., one of the 30 Dow Jones industrials, released preliminary earnings estimates for the fourth quarter that were 24 percent above year-earlier levels. The results also beat the forecast of analysts surveyed by Thomson Financial.

After falling nearly 250 points on Friday, the Dow rose more than 170 points Monday.

"The market was pretty oversold," said Richard E. Cripps, chief market strategist for Stifel Nicolaus. "We were due to bounce back, and the IBM news didn't hurt."

IBM's news, coming before as earnings season is about the get under way in earnest, did raise some hopes that fourth-quarter results might not be as bad as feared.

Investors also moved back into financial services stocks ahead of Citigroup Inc. earnings on Tuesday and Merrill Lynch & Co.'s report on Thursday. It is expected both companies will announce further capital injections to stanch bigger-than-feared mortgage-related losses.

According to preliminary calculations, the Dow gained 171.85, or 1.36 percent, to 12,778.15. IBM was the biggest gainer in the Dow, rising $5.26, or 5.4 percent, to $102.93.

Broader stock indicators also rose. The Standard & Poor's 500 index added 15.23, or 1.09 percent, to 1,416.25 and the Nasdaq composite index shot up 38.36, or 1.57 percent, to 2,478.30.

Treasurys were trending slightly higher after fluctuating. The yield on the benchmark 10-year Treasury note was 3.79 percent, down from 3.81 percent late Friday. Prices and yields trade in opposite directions.

With no major economic data on the calendar, investors focused on corporate and commodities news. Gold futures hit a record, briefly venturing above $913 an ounce as the dollar tumbled against other major currencies. The euro reached a new high above $1.49.

Other commodities were higher, too. Crude oil rose $1.51 to settle at $94.20 a barrel on the New York Mercantile Exchange.

Peter Dunay, investment strategist at Leeb Capital Management, believes the run in commodities prices will continue as Wall Street eyes what the Federal Reserve will do at its Jan. 29-30 meeting. Chairman Ben Bernanke has convinced investors the central bank will cut rates, and the expectation of cheaper money also bolstered sentiment Monday

"We're expecting inflation to be a problem, and believe the commodity demand is going to continue," Dunay said. "We think the Fed is going to throw as much money as they can to keep us out of recession, or keep the recession mild, so commodities will be higher."

Stocks sold off sharply last week after a chorus of Wall Street economists predicted the U.S. is about to slide into a recession. The Dow lost 1.51 percent during the week, the S&P 500 dropped 0.75 percent and the Nasdaq gave up 2.58 percent. However, a recession cannot be declared until there are two quarters in a row of economic shrinkage as measured by gross domestic product data, and that has not occurred yet.

In corporate news, General Motors Corp. Chief Financial Officer Fritz Henderson said that although the GMAC finance wing's auto loan delinquencies were up slightly in the third quarter from year-before levels, the problems for auto loans were not nearly as severe as the credit troubles in the real estate sector. GM sold control of GMAC in 2006 but still owns a large minority stake. GM rose 19 cents to $23.69.

Sears Holdings Corp. warned that its upcoming fourth-quarter report could show a decline as high as 51 percent from year-earlier levels, adding to concerns that economic weakness is slowing the retail sector. The company Monday forecast a result of $2.59 to $3.48 a share, which would be down from $5.33 a year before and a Thomson Financial forecast of $4.43 a share. Sears fell $4.79, or 5 percent, to $91.38.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.27 billion shares.

The Russell 2000 index of smaller companies rose 7.83, or 1.11 percent, to 712.48.

Overseas, the Tokyo stock market was closed for a holiday Monday. In Europe London's FTSE 100 rose 0.22 percent, Germany's DAX advanced 0.18 percent and Paris' CAC 40 gained 0.60 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



Glad to bring some more good news guys, Dow up, POO up, POG up (infact hit record of $910), other commodities up makes me happy

Cheers

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,501.11 -277.04 -2.17%
Nasdaq 2,417.59 -60.71 -2.45%
S&P 500 1,380.95 -35.30 -2.49%
10 Yr Bond(%) 3.7010% -0.0920

Overseas
Overseas, Japan's Nikkei stock average fell 0.98 percent. Britain's FTSE 100 closed down 3.06 percent, Germany's DAX index fell 2.14 percent, and France's CAC-40 lost 2.83 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 6,025.60 -190.10 -3.06%
DAX 7,566.38 -165.64 -2.14%

Asia
Sym... Last........ ........Change..........
Hang Seng 25,837.78 -630.35 -2.38%

http://biz.yahoo.com/ap/080115/wall_street.html
Stocks Fall Sharply on Economic Worries
Tuesday January 15, 4:26 pm ET
By Leslie Wines, AP Business Writer

Wall Street Plunges As Weak Economic, Earnings Figures Stir More Concerns About Recession​

NEW YORK (AP) -- A growing conviction that the U.S. is headed toward recession sent Wall Street plunging Tuesday, with weak retail sales figures and a disappointing quarterly report from Citigroup Inc. exacerbating investors' pessimistic mood. The Dow Jones industrials fell nearly 280 points.

Investors backed away from stocks amid growing concerns that consumer spending will wane this year and contribute to an economic downturn. The latest evidence that consumers are retrenching came from the Commerce Department, which said retail sales fell in December and which also revised its November figures lower. Spending by consumers, which accounts for more than two-thirds of U.S. economic activity, has been key to staving off economic slowdowns in recent years.

There is also a growing fear that the Federal Reserve hasn't done enough to keep the economy going -- especially as investors continue to see the fallout from the summer's subprime mortgage crisis. Citigroup, the nation's biggest bank, announced on Tuesday a hefty $18.1 billion write-down for bad mortgage assets and slashed its dividend.

Brian Gendreau, investment strategist for ING Investment Management, said the market is now seeing "a decisive shift" toward a recession.

"The sectors that are outperforming are defensive plays, like consumer staples," he said. "People don't buy them unless you're worried about sustained weakness."

Investors have sold stocks lower so far this year on increasing worries about the economy. According to preliminary calculations, the Dow fell 277.04, or 2.17 percent, to 12,501.11.

Broader stock indicators also lost ground. The Standard & Poor's 500 index dropped 35.30, or 2.49 percent, to 1,380.95, and the Nasadaq composite index lost 60.71, or 2.45 percent, closing at 2,417.59.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 1.53 billion shares.

Bond price rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent, close to its lowest point since March 2004 and down from 3.77 percent late Monday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell $2.30 to settle at $91.90 per barrel on the New York Mercantile Exchange.

Tuesday's trading, which more than wiped out Monday's triple-digit gain in the Dow, showed the depths of the market's pessimism amid increasing signs that the economy is weakening. Many investors, heeding warnings of some economists, fear the country is headed toward recession, and a stream of disappointing economic data like Tuesday's retail sales data is reinforcing those fears.

In just the 10 trading days of 2008, the Dow has fallen 5.76 percent, while the S&P 500 is down 5.95 percent and the Nasdaq has lost 8.85 percent.

"When consumers are beaten over the head about how bad things are, pretty soon they believe it and that affects their spending habits," said Scott Wren, equity strategist for A.G. Edwards & Sons. "And when there's a lot of uncertainty out there, the Fed needs to be a little more aggressive -- I think they need to cut more than just at this next meeting."

Still, hopes for a rate cut weren't enough to calm Wall Street.

He said the worrisome fall in retail sales, which also pressures the dollar, builds a case that the cut will be at least 0.50 percentage point. It also increases the likelihood of further cuts after the central bank's Jan. 29-30 meeting.

Adding to investors' concerns, the New York Federal Reserve's Empire State survey of regional manufacturing showed a drop to 9.03 this month from 9.80 in December.

But there was some relief about inflation. Producer prices fell 0.1 percent, according to the Labor Department. The result was smaller than the 0.2 percent drop expected by economists, but all declines in price pressure are generally good news. Excluding food and energy, producer prices gained 0.2 percent, matching expectations.

Financial services stocks were among the biggest influences on investors during Tuesday's session. Citigroup's drastic efforts to shore up its balance sheet had been widely expected, but it still was a forceful reminder of the serious problems that bad lending practices have created for financial services firms.

Citigroup, which lost $9.83 billion in the fourth quarter, also announced a massive $12.5 billion capital injection. Hope that struggling financial firms will bolster their finances also was stirred by news that Merrill Lynch & Co. Inc. agreed that three foreign investment funds will invest $6.6 billion in the Wall Street firm.

Citi fell $2.21, or 7.6 percent, to $26.85. Merrill -- which reports results on Thursday -- fell $2.96, or 5.3 percent, to $53.01.

The Russell 2000 index of smaller companies fell 15.05, or 2.11 percent, to 697.43.

Overseas, Japan's Nikkei stock average fell 0.98 percent. Britain's FTSE 100 closed down 3.06 percent, Germany's DAX index fell 2.14 percent, and France's CAC-40 lost 2.83 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,466.16 -34.95 -0.28%
Nasdaq 2,394.59 -23.00 -0.95%
S&P 500 1,373.20 -7.75 -0.56%
10 Yr Bond(%) 3.7120% +0.0110

Overseas
In overseas trade, Japan's Nikkei gave up 3.35 percent. London's FTSE 100 finished down 1.37 percent, Frankfurt's DAX fell 1.25 percent and Paris' CAC fell 0.48 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 5,942.90 -82.70 -1.37%
DAX 7,471.57 -94.81 -1.25%
CAC 40 5,225.39 -25.43 -0.48%


Asia
Sym... Last........ ........Change..........
Hang Seng 24,450.85 -1,386.93 -5.37%

http://biz.yahoo.com/ap/080116/wall_street.html
Economic Concerns Weigh on Stocks
Wednesday January 16, 4:27 pm ET
By Tim Paradis, AP Business Writer

Wall Street Finishes Lower After Intel Earnings; Fed Report Shows Modest Economic Growth​

NEW YORK (AP) -- Wall Street staggered through another volatile session Wednesday, finally closing mostly lower after a Federal Reserve report showed some economic growth at the end of 2007 and after Intel Corp.'s disappointing profit report.

Stocks gave up a modest rally in the final 20 minutes of trading, continuing the fluctuations seen throughout the session as investors combed corporate profit reports and economic news that supported varying views about the soundness of the economy.

Stocks initially gained after the Fed report -- its Beige Book survey of regional economies -- suggested economic activity increased modestly from mid-November through December, though at a slower pace than in a previous survey.

The report seemed to quell some concerns about prospects for the economy that took on fresh urgency after Intel Corp. issued disappointing earnings after the closing bell Tuesday.

The Fed's report bolstered enthusiasm among bullish investors who pointed to better-than-expected results from JPMorgan Chase & Co. and Wells Fargo & Co. The banks' reports appeared to remind Wall Street that while the fallout of souring loans was widespread, it wasn't necessarily evenly felt. And buyout news in the tech sector also gave a boost to sentiment.

"I think the market is trying to find some kind of a correction point," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto. "The talk on Wall Street has been about recession. Maybe the Beige Book has underscored that the U.S. is in a slowdown but that it doesn't look like precipitous one."

According to preliminary calculations, the Dow Jones industrial average fell 34.95, or 0.28 percent, to 12,466.16.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 7.75, or 0.56 percent, to 1,373.20, and the Nasdaq composite index fell 23.00, or 0.95 percent, to 2,394.59.

Investors remained edgy Wednesday, particularly after a drop Tuesday that took the Dow down nearly 280 points. Predictions by some economists that a recession is at hand have rattled Wall Street in recent weeks.

Intel was by far the biggest decliner among the 30 stocks that make up the Dow and also weighed on the tech-dominated Nasdaq. The chip maker fell 70 cents, or 12.4 percent, to $19.88.

Advancing issues narrowly outpaced decliners 2 on the New York Stock Exchange, where volume came to 2.11 billion shares compared with 1.53 billion traded Tuesday.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.73 percent from 3.68 percent late Tuesday. The dollar fell against most other major currencies -- hitting a 2 1/2-year low against the yen -- but rose against the euro. Gold prices, which have hit record levels in recent sessions, eased.

Light, sweet crude settled down $1.06 at $90.84 per barrel on the New York Mercantile Exchange after the government reported that domestic oil supplies rose unexpectedly last week. During the session oil fell below $90 for the first time since Dec. 19.

Intel's failure to meet forecasts for the fourth quarter, along with first-quarter projections that came in at the low end of analysts' predictions, weighed on technology stocks. Earlier this week, there was market speculation that the technology sector, which sometimes benefits from a weak dollar and overseas strength, might be able to better withstand an economic slowdown in the U.S.

The tech arena did see some cheer Wednesday, thanks to Oracle Corp.'s deal to buy BEA Systems Inc. for about $7.85 billion. Last year BEA rejected a less expensive bid from Oracle, which raised its offer but not to the level sought by BEA.

Kumar contends markets will remain jumpy as Wall Street sorts out its concerns about the economy as well as the troubles with bad debt.

"Volatility will probably remain high into midyear because analyst expectations are coming down quite rapidly and we're in the eye of the storm as far as credit write-downs go for banks," he said.

Beyond the Beige Book, which arrived two weeks before the Fed's next meeting, other economic news added to Wall Street's concerns. The Labor Department also said inflation jumped by the highest amount in 17 years in 2007 amid a spike in energy and food costs. Excluding those areas, so-called core inflation remained relatively stable.

Consumer prices in December rose 0.3 percent, while core inflation showed a 0.2 percent advance. Analysts had expected both figures to rise 0.2 percent, according to Thomson/IFR.

The Fed, in setting monetary policy, is known to pay closer attention to the core rate. In any case, investors appear more worried about the prospect of slower growth than that of higher inflation.

In addition, Fed Chairman Ben Bernanke already has sent strong signals that another rate cut is on the way. The Fed's next monetary policy meeting is Jan. 29-30, though some investors have debated whether the central bank would step in and cut rates before then.

The Fed said Wednesday that output at the nation's factories, mines and utilities was flat in December. Wall Street had expected industrial production to show a 0.2 percent decline. The reading wasn't necessarily downbeat. Had output risen, it could have reassured some investors about the state of the economy but also perhaps stirred concerns about inflation.

JPMorgan offered a first-quarter earnings report that revealed relatively light exposure to the faltering subprime loans as it booked a write-down of $1.3 billion, which was smaller than the massive losses of peers like Citigroup Inc. Citi on Tuesday said it swung to a loss of nearly $10 billion in the fourth quarter after booking a write-down of $18.1 billion for bad bets tied to the mortgage industry.

Despite its relatively strong results, JPMorgan warned of difficult conditions this year and said problems with home equity loans dented profits and underscored mounting pressures in consumer lending. JPMorgan rose $2.26, or 5.8 percent, to $41.43, while Citi, fell 70 cents, or 2.6 percent, to $26.24 after losing 7.6 percent Tuesday. Both JPMorgan and Citi are components of the Dow.

Wells Fargo revealed its first decline in profits in more than six years and also cited rising losses on home equity loans. But the company, one of the nation's largest banks, largely sidestepped the write-downs that many other banks have been forced to make. Wells Fargo rose 88 cents, or 3.3 percent, to $27.37.

BEA Systems Inc. jumped $2.88, or 19 percent, to $18.46 after word of its deal. Oracle rose 61 cents, or 3 percent, to $21.92.

The Russell 2000 index of smaller companies rose 2.48 percent, or 0.36 percent, to 699.91.

In overseas trade, Japan's Nikkei gave up 3.35 percent. London's FTSE 100 finished down 1.37 percent, Frankfurt's DAX fell 1.25 percent and Paris' CAC fell 0.48 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[The Mint Man]

I know I'm still waking up but do these figures seem a bit wrong to you?:

Intel was by far the biggest decliner among the 30 stocks that make up the Dow and also weighed on the tech-dominated Nasdaq. The chip maker fell 70 cents, or 12.4 percent, to $19.88.

 

[Dukey]

I know I'm still waking up but do these figures seem a bit wrong to you?:

Very wrong!! I make 3.4% there.

Maybe Tim Paradis turned up at work a bit hung over.

 

[The Mint Man]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,159.21 -306.95 -2.46%
Nasdaq 2,346.90 -47.69 -1.99%
S&P 500 1,333.25 -39.95 -2.91%
10 Yr Bond(%) 3.6400% -0.0720

Overseas
Overseas, Japan's Nikkei stock average closed up 2.07 percent. Britain's FTSE 100 finished down 0.68 percent, Germany's DAX index fell 0.78 percent, and France's CAC-40 fell 1.31 percent.

Europe
Sym... Last........ ........Change..........
FTSE 100 5,902.40 -40.50 -0.68%
DAX 7,413.53 -58.04 -0.78%
CAC 40 5,157.09 -68.30 -1.31%


Asia
Sym... Last........ ........Change..........
Hang Seng 25,114.98 +664.13 +2.72%

http://biz.yahoo.com/ap/080117/wall_street.html
Economic Woes Maim Stocks; Dow Falls 300
Thursday January 17, 6:11 pm ET
By Tim Paradis, AP Business Writer

Stocks Extend Plunge As Manufacturing Index Falls; Bond Insurers Fall Amid Fears of Losses​

NEW YORK (AP) -- Wall Street extended its 2008 plunge Thursday, sending the Dow Jones industrials down 306 points and to their lowest level since last March after a regional Federal Reserve report showed a sharp and undexpected decline in manufacturing activity. Downgrades of key bond insurance companies added to the market's black mood, with investors fearing an escalation of months of credit market problems.

The Dow lost nearly 2.5 percent, giving the index its worst three-day percentage decline since October 2002. The Standard & Poor's 500, the index closely watched by market professionals, fell nearly 3 percent Thursday. The Dow, S&P 500 and the Nasdaq composite index have now given back all of the gains they achieved in 2007.

Stocks opened higher but quickly gave up their gains after the Philadelphia Federal Reserve said its survey of regional manufacturing activity registered a negative 20.9 from a revised reading of negative 1.6 in December. The latest number came in well short of what Wall Street had been expecting and underscored the seriousness of the economic worries that have gripped both Wall Street and Washington in recent weeks.

Credit concerns also dogged Wall Street after rating agency Moody's Investors Service placed bond insurer Ambac Assurance Corp. on review for a possible downgrade. That possibility alarmed investors because it would place all bonds insured by Ambac on review as well. Wall Street are concerned that bond insurers would be unable to absorb a spike in claims.

Investors' fears of a slowing economy, the consequence of a months-long housing and credit market crisis, dominated trading, as they have since the start of the year.

"The Philadelphia Fed just announced dreadful numbers," said John O'Donoghue, co-head of equities at Cowen & Co. He said if you look back at Philadelphia Fed data for similar numbers, it takes you back to the 2001 to 2002 recession.

"It's not rocket science -- the economy is slowing dramatically, and it's being reflected in economic reports."

The Dow, which had been up more than 50 points early in the session, closed down 306.95, or 2.46 percent, at 12,159.21.

The Dow is now off 8.33 percent for the year; there have been just 12 trading days so far in 2008, but the index's frequent triple-digit losses have now forced it to give back its 2007 gains. The Dow had its lowest close since it ended the March 16, 2007, session at 12,110.41.

The Dow's decline also left it about 150 points above 12,000, a level it hasn't closed below since November 2006.

The broader market indicators also plummeted. The S&P 500 index lost 39.95, or 2.91 percent, closing at 1,333.25, and leaving it was a year-to-date loss of 9.2 percent, while the Nasdaq dropped 47.69, or 1.99 percent, to 2,346.90, giving it a 2008 deficit of 11.51 percent.

Thursday brought the lowest close for the S&P 500 since October 2006 and the worst for the Nasdaq since March of last year.

Declining issues outnumbered advancers by more than 5 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 5.41 billion shares compared with 5.25 billion traded Wednesday.

Bond prices rose as stocks fell and anxious investors sought the safety of government-issued securities. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.63 percent from 3.68 percent late Wednesday. The dollar was mixed against other major currencies.

The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped nearly 17 percent Thursday.

Light, sweet crude fell 71 cents to settle at $90.13 a barrel on the New York Mercantile Exchange after Bernanke's prediction of slower economic growth this year. Slowing growth could dampen demand for oil.

The Philadelphia manufacturing reading caught Wall Street by surprise -- igniting fears that the economy is slowing precipitously and that policymakers might be too late in contemplating aid.

Economists had expected the Philadelphia index would come in at a negative 1.5, according to Dow Jones Newswires. Instead, the negative 20.9 figure was the weakest since October 2001 when the economy was reeling from the shock of the Sept. 11 terror attacks.

Jim Herrick, manager of equity trading at Baird & Co., contends that the Philadelphia Fed reading and other recent negative economic reports indicate the economy is likely in a downturn.

Other economic reports added to investors' glum mood. The Commerce Department said housing starts plunged 14 percent to 1.01 million in December, marking the weakest pace of home building in more than 16 years. In addition, permits to build new homes dropped 8 percent last month to 1.07 million, the lowest level since 1993.

The week's steady flow of news, much of which has dented investor sentiment, has led to a growing chorus of calls for the Fed to cut rates. The Fed's monetary policy committee will meet Jan. 29-30 and is widely expected to lower its Fed funds target from the current 4.25 percent level. Bernanke on Thursday reiterated recent signals that the central bank will reduce rates for a fourth straight time.

Some on Wall Street have called for the Fed to intervene sooner with steep rate cuts.

The economic concerns come in a week in which some of Wall Street's biggest names have posted huge losses following bad bets on mortgage investments. Financial shares fell sharply Thursday after the reports have made clear that there is also increasing weakness in home equity and other consumer banking operations.

Merrill Lynch & Co. on Thursday posted a massive loss that underscored the depth of the economy's credit problems. The world's largest brokerage said it lost $9.91 billion in the fourth quarter, hurt by big write-downs from investments and trades battered by tight credit conditions.

John Thain, the new chief executive at Merrill, said he believes the red ink will constitute the bulk of the company's write-downs from its subprime mortgage exposure. But he would not speculate about what 2008 might hold in store in other areas. Earlier this week, Merrill secured a new round of capital infusions from foreign funds.

Merrill fell $5.64, or 10 percent, to $49.45.

Moody's announcement that it will review Ambac came after the insurer booked a $5.4 billion write-down on its credit derivative portfolio during the fourth quarter.

Ambac plunged $6.73, or 52 percent, to $6.24, while Ambac rival MBIA Inc. fell $4.18, or 31 percent, to $9.22. First Horizon National Corp. fell $2.43, or 13 percent, to $16.48 after Standard & Poor's Ratings Services lowered its rating on the bank's long-term credit.

The Russell 2000 index of smaller companies fell 19.34, or 2.76 percent, to 680.57.

Overseas, Japan's Nikkei stock average closed up 2.07 percent. Britain's FTSE 100 finished down 0.68 percent, Germany's DAX index fell 0.78 percent, and France's CAC-40 fell 1.31 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



I think its time we left the US out of it and look to Asia