stock market

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IBM Forecast Rallies Asian, European Markets

Big Blue's outlook erases some gloom

(Newser) - After five straight trading days of losses, investors may have regained a touch of confidence as markets in Asia and Europe bounced back from their beatings today, reports Bloomberg. The rebound, fueled in part by IBM’s reaffirmation of its profit forecast, comes after the worst five-day selloff since 1987....

Iceland Shuts Stock Market, Nationalizes No. 1 Bank

Overexposed Nordic nation sinks deeper into financial crisis

(Newser) - Iceland shut down its stock exchange today due to "unusual market conditions" and will keep it closed until Monday, the AP reports. The move came just hours after the Icelandic government nationalized Kaupthing, the nation's largest bank and the third to come into public ownership. An IMF delegation...

Crisis Drains $2T From Retirement Savings

Tumbling values may mean more workers have to stay on jobs longer, retire later

(Newser) - The financial crisis has drained $2 trillion from Americans' retirement savings over the  past 15 months, reports the Washington Post, a 20% drop in the value of pensions and 401(k) plans that may force many to retire later and could spread to the general economy as workers tighten belts further....

Stocks Rocky After Rate Cuts
 Stocks Rocky After Rate Cuts 
updated
Oct 8, 2008 9:25 AM CDT

Stocks Rocky After Rate Cuts

Investors cheer/jeer/cheer the rate cut

(Newser) - Stocks had a volatile morning, dropping as much as 230 points after the bell before swinging upwards once more, the Wall Street Journal reports. The Dow was up about 39 points at midmorning, while the Nasdaq and S&P gained 0.7% and 0.8% respectively, as investors digested a...

It Hasn't Been This Bad Since 1937

Stocks stuck in a 'downward spiral of fear;' no end in sight

(Newser) - With investors unconvinced the government’s $700 billion bailout or the Fed’s new plan to buy commercial paper will thaw frozen credit markets, markets remained trapped in “a downward spiral of fear,” reports BusinessWeek. The Dow’s 29% loss this year is its worst since 1937’s...

World Markets Tumble
 World Markets Tumble 

UPDATE
Oct 8, 2008 2:40 AM CDT

World Markets Tumble

Biggest drop in over 20 years, Brit bailout fails to stop FTSE dive

(Newser) - Fears of a global recession sent markets plummeting around the world today, Bloomberg reports. Japan's Nikkei index nosedived 9.4%—its biggest fall since the stock market crash of 1987. Indonesia and Russia halted trading after their benchmark index dove 10%. Of 100 companies listed in Britain's FTSE 99 fell...

Cramer: I Was Being Responsible!

Mad guru maintains that money is safer out of Wall Street

(Newser) - Jim Cramer returned to NBC's Today Show to dismiss viewer attacks that he yelled "fire in a crowded building" by advising they pull out of Wall Street any money they need in the short term. "What happens if there is one raging?" he retorted. The "innate optimist,...

Stocks Sink as Bernanke Hints at Rate Cut
Stocks Sink as Bernanke Hints at Rate Cut
MARKETS
Oct 7, 2008 1:28 PM CDT

Stocks Sink as Bernanke Hints at Rate Cut

After early optimistic surge, Dow falls 300 points

(Newser) - Federal Reserve Chairman Ben Bernanke warned today that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed chief's gloomy assessment appeared to hint of an interest rate cut on or before the Fed’s next meeting later this month....

Stocks Creep Higher at Open
 Stocks Creep Higher at Open 
MARKETS
Oct 7, 2008 9:02 AM CDT

Stocks Creep Higher at Open

Commercial paper plan breeds cautious optimism

(Newser) - Stocks rose at the opening bell today, buoyed by the Fed’s dramatic promise to intervene in the commercial paper market. The Dow rose 79 points at the open, as the Nasdaq and S&P rose 1.1% and 0.8% respectively, the Wall Street Journal reports. Investors also believe...

Sell Those Stocks! Banks Are Better: Cramer
Sell Those Stocks! Banks
Are Better: Cramer
opinion
Oct 6, 2008 8:30 PM CDT

Sell Those Stocks! Banks Are Better: Cramer

(Newser) - The stock market is no place to keep a dollar these days, warned hollering financial guru Jim Cramer today on Mad Money. Another depression is possible and energy woes are likely, he said, so the smart investor will free up money needed in the next 5 years by selling stock....

On Sports Exchange, 'Trade' Takes on New Meaning

Create a 'Sportfolio' and buy and sell shares in your favorite athletes

(Newser) - Trading baseball cards with your friends is so 20th century. A new website allows sports fans to trade shares in athletes and even teams, effectively wagering real money on the performance of pro and college athletes, reports Reuters. "I see the marketplace being enormous," says an early investor...

Dow Down 700, Hits 4-Year Low
 Dow Down 700, Hits 4-Year Low 
UPDATED
Oct 6, 2008 1:58 PM CDT

Dow Down 700, Hits 4-Year Low

'This is just about fear right now'

(Newser) - Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200...

Stocks Rise on Opening Bell
 Stocks Rise on Opening Bell 
MARKETS
Oct 3, 2008 8:48 AM CDT

Stocks Rise on Opening Bell

New Wachovia deal boosts optimism

(Newser) - Stocks climbed higher today, buoyed by Wells Fargo’s deal to snatch Wachovia from Citigroup. The Dow is up more than 100 points in early trading, while the Nasdaq and S&P rose 1.7% and 1.5%, respectively. Seemingly ignored was a worse-than-expected employment report, which showed the sharpest...

Stocks Fall Despite Senate Vote
 Stocks Fall Despite Senate Vote 
MARKETS
Oct 2, 2008 9:00 AM CDT

Stocks Fall Despite Senate Vote

Jobless claims up

(Newser) - Senate approval of the bailout bill wasn’t enough to calm investors this morning, as the Dow posted a modest 51-point decline. Driving the pessimism was a report that new jobless claims have hit a new 7-year low, the Wall Street Journal reports. The S&P and Nasdaq each fell...

Stocks Open Down on Bailout Impatience
 Stocks Open Down on Bailout Impatience
MARKET
Oct 1, 2008 8:55 AM CDT

Stocks Open Down on Bailout Impatience

Volatile session could be forthcoming

(Newser) - Stocks started off on the wrong foot this morning as investors awaited smoke signals from Congress. The Dow dropped 122 points, while the S&P and Nasdaq fell 1.3% and 0.9%, respectively. The session is likely to be a volatile one, with the Senate’s expected bailout vote...

Hedge Funds in Hot Seat After Market Plunge

Plunging stock prices, redemptions coincide to deal industry a one-two punch

(Newser) - At a time when markets need their money more than ever, the $2-trillion hedge fund industry could fall victim to bad timing, as yesterday's plunge coincides with today’s deadline for many investors to withdraw before year’s end, the Wall Street Journal reports. Funds may be forced to sell...

As Stocks Tank, Campbell's Proves Hearty

Soup giant was the only S&P 500 company to see rise

(Newser) - As investors stampeded to sell stocks as confidence plunged yesterday, lonely cans of Campbell's soup stood supreme. By the time the dust cleared, Campbell's was the only one of 500 firms in the Standard & Poor's index whose stocks rose, Reuters reports. The soup's shares jumped 12 cents. Some analysts...

TV News Struggles to Explain Crisis Even as Ratings Surge

Networks see viewer interest in formerly esoteric financial instruments

(Newser) - TV news programs are grappling with explaining the financial crisis to an audience suddenly much more interested in business news, the New York Times reports. With CNBC seeing its highest ratings ever and CNN, Fox and MSNBC seeing bumps in recent weeks, news shows have put teams of business pundits...

Stocks Sink; Bush Pledges Deal
 Stocks Sink; Bush Pledges Deal 
MARKETS
Sep 26, 2008 8:52 AM CDT

Stocks Sink; Bush Pledges Deal

Dow falls over 100 points at open

(Newser) - Socks plummeted today as confidence in the federal bailout program evaporated and investors absorbed the collapse of Washington Mutual. The Dow fell 140 points after the opening bell, while the Nasdaq dropped 2.2% and the S&P fell 1.7%, the Wall Street Journal reports. President Bush gave a...

European Markets Slide as US Rescue Talks Stall

The lack of resolution in Washington sends shudders around the globe

(Newser) - European markets swooned on news of the US bailout troubles and the failure of Washington Mutual, the Wall Street Journal reports. The Dow Jones Stoxx 600 fell 1.5%, Germany’s DAX index slipped 1.4%, and the UK’s FTSE 100 and France’s CAC-40 each shed 1.3%....

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