stock market

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Dow Surges 220 to Pre-Lehman Levels
 Dow Surges 220 
 to Pre-Lehman Levels 
MARKETWATCH
Nov 4, 2010 3:18 PM CDT

Dow Surges 220 to Pre-Lehman Levels

Investors cheer Fed's $600B plan

(Newser) - The Dow Jones surged 220 points to close at 11,435—a few points beyond the levels it hit before the collapse of Lehman Brothers kicked off the international financial crisis in 2008. Investors were spurred to action by the Fed's $600 billion quantitative easing plan, which they are betting...

The Real Reason Wall Street Is Voting Republican

The market loves a divided government

(Newser) - Wall Street is giddy over the prospect of a Republican congressional takeover—and not because of the GOP’s pro-business rhetoric. The real reason is that the stock market loves a divided government, writes Costas Panagopoulos of the Christian Science Monitor . Historically, the Dow has climbed an average 11.1%...

GDP Grows 2% in 3Q
 GDP Grows 2% in Q3 
Oct 29, 2010 8:54 AM CDT

GDP Grows 2% in Q3

Growth fits economists' predictions

(Newser) - The economy grew slightly faster over the summer as Americans spent a little more freely: The GDP grew at a 2% rate during the third quarter, in line with what economists had forecast. It marks a slight improvement over last quarter, when the GDP grew at a 1.7% rate....

Congressional Staffers Play Market Using Inside Info

Many place bets on industries their bosses regulate

(Newser) - When Chris Miller doubled his investment in a renewable energy firm in 2008, he might have had an inkling that legislation was coming that would benefit the firm. After all, he’s Harry Reid’s top energy policy adviser. Confronted yesterday, a Reid spokesman said Miller had shown “poor...

Dow Cracks 11K for First Time Since May

Investors think Fed will move to prop up economy

(Newser) - Stocks are rising after another weak report on unemployment added to expectations that the Federal Reserve will step in to prop up the US economy. The Dow Jones industrial average climbed above 11,000 this morning for the first time since early May. At midday, the Dow was up 53,...

It's a Good Time to Get Back in Stock Market
It's a Good Time to Get
Back in Stock Market
Steven Pearlstein
Sep 24, 2010 4:15 PM CDT

It's a Good Time to Get Back in Stock Market

Steven Pearlstein: Get in while lots of people are still out

(Newser) - Bullish advice today from Washington Post economic columnist Steven Pearlstein: Get back in the stock market, specifically in "shares of large, solid dividend-paying companies." His "gut" tells him the market's pretty much done bottoming out. Why be optimistic? Because "so many other people are so pessimistic....

Small Investors Flee Wall St. in Hordes

Investors are not sold on financial recovery, it seems

(Newser) - Americans love the stock market—that is, they used to love the stock market. But shaken by the financial crisis, investors withdrew $33.12 billion dollars from domestic stock market mutual funds in the first seven months of this year, finds the New York Times . Instead, they're putting their money...

Tesla IPO Roars Out of the Gate

Private sector gives electric cars a vote of confidence

(Newser) - The Dow may have plunged yesterday, but over on the Nasdaq, things were great for new kid Tesla Motors. In its first day of trading, Tesla's price shot up almost 41% from its $17 offer price, closing at $23.89, after at one point hitting $25, MarketWatch reports. The company's...

Lenny Dykstra Sold Access to Jim Cramer

Market 'genius' also took illegal bribe to tout penny stock

(Newser) - Lenny Dykstra, the fraudster Jim Cramer unwittingly turned into a stock-picking star, accepted an illegal bribe to pimp a penny stock on his TheStreet.com newsletter, Randall Lane of the Daily Beast reports. Dykstra secretly accepted $250,000 worth of Automated Vending Technologies shares in exchange for a plug in...

Investors Bet Big On BP Default
 Wall St. Bets Big on BP Default 
odds shoot up to 39%
Jun 16, 2010 7:28 AM CDT

Wall St. Bets Big on BP Default

Credit-default swaps predict 39% chance of failure

(Newser) - Wall Street oddsmakers think BP has a 39% chance of defaulting on its credit in the next five years, based on the skyrocketing price of the company’s credit default swaps. A month ago, investors had priced in just a 7% risk of default. “There’s still so much...

BP Can't Explain Diving Stock
 BP Can't Explain Diving Stock  
Jun 10, 2010 10:49 AM CDT

BP Can't Explain Diving Stock

Company 'is not aware of any reason' for price drop

(Newser) - It’s probably not terribly surprising that BP’s stock hit a 13-year low this morning—unless, apparently, you’re BP. The company put out a statement last night saying that it was “not aware of any reason which justifies this share price movement.” Well, the Wall Street ...

Apple's Worth More Than Microsoft&mdash;to Gamblers
Apple's Worth More Than Microsoft—to Gamblers
Henry Blodget
May 27, 2010 12:16 PM CDT

Apple's Worth More Than Microsoft—to Gamblers

It's got a lot of growing to do

(Newser) - In case you haven't heard, Apple has passed Microsoft in market value. But is it really worth more? Sure, if you're feeling lucky, writes Henry Blodget for Business Insider . Microsoft's free cash flow is roughly double Apple's, so right now they're way out of whack, but Apple is growing much...

Dow Plunges on Fears Over Europe, Korea

May close below 10,000

(Newser) - The Dow opened below 10,000 today—a mark it hasn't closed below since February—as investors panicked over the conflict between North and South Korea and instability in European banks. The Dow fell 238 points, while the S&P and Nasdaq dropped 23 and 53 points respectively, according to...

BP: 60%-70% Chance 'Top Kill' Will Work

Oozing oil, not confidence

(Newser) - BP 's " containment dome " plan failed big time, and the oil giant is less than confident as it readies its latest and greatest plan for tomorrow: The "top-kill" maneuver, which Reuters reports the company thinks has a 60%-70% chance of succeeding. Tomorrow BP plans to inject...

Stock Exchanges to Get 'Circuit Breakers'

SEC rules hope to prevent crazy plunges

(Newser) - US stock exchanges would briefly halt trading of some stocks that have big prices swings under new trading rules aimed at avoiding market plunges and proposed today by federal regulators. The rules would take effect in mid-June under a 6-month pilot program agreed to by major US exchanges and the...

SEC: Don't Blame Fat Fingers for Market Freefall

Feds don't know reason, but don't think it was a typo

(Newser) - Those hoping for a simple answer to what caused last week's stock market collapse—a typo caused by a so-called "fat finger" trading error, for instance, or maybe a malicious hacker—will be disappointed with the testimony of federal regulators today on Capitol Hill. While they simply don't know...

SEC Now Thinks Mishmash System Sparked Mayhem

Exchange differences exacerbated plunge

(Newser) - As markets open today, the cause of last week's trading chaos remains unclear, but investigators believe mismatches in rules between the NYSE and newer electronic exchanges, combined with fast, complex computer trading systems, triggered the panic. The sudden drop of a futures contract on the Chicago Mercantile Exchange appears to...

Greece Mess Means Big Trouble for Euro
 Greece Mess Means 
 Big Trouble for Euro 
Paul Krugman
May 7, 2010 8:35 AM CDT

Greece Mess Means Big Trouble for Euro

Athens will probably have to leave the currrency

(Newser) - Greece is not the "next Lehman," writes Paul Krugman. It's not "big enough or interconnected enough" to cause that scale of global mess, or even yesterday's nightmare on Wall Street. But don't be too reassured. "Greece’s problems are deeper than Europe’s leaders are willing...

Typo, Glitches, Panic Blamed for Stock Market Mayhem

'Fat finger trade' likely triggered trader panic

(Newser) - What's known in the business as a "fat finger" trade may have been responsible for yesterday's stock market chaos, analysts say. Multiple sources believe a trader at a major firm—possibly Citigroup—hit a "B" instead of an "M" while trading Procter & Gamble shares, selling a...

SEC Probing Possible Stock Chaos Shenanigans

Time to crack down on algorithm trading, lawmakers say

(Newser) - The SEC is on the trail of securities traders who might have "accidentally or maliciously" triggered yesterday's stock market see-sawing, insiders tell Bloomberg , or exploited it to profit illegally. The SEC and the Commodities Futures Trading Commission said after markets closed yesterday that they plan a joint probe into...

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