NYSE // Current

Wall Street Starts Week on Good Note

Stock prices are solidly higher in early trading. The Dow Jones Industrial Average gained more than 400 points in the first few... more

ebindelglass
added this

US Stocks Gyrate after Global Selloff, DOW Dips Below 8000

For almost 10 minutes on Friday, Wall Street seemed in a free-fall. The Dow Jones industrial average fell almost 700 points or... more

fountaingoats
added this

Horror on Stock Market Floors (photos)

Here are a few pictures from the New York Stock Exchange Floor and the ICAP dealing floor in London.

ebindelglass
added this

US says LabCorp ovarian cancer test sales illegal - Reuters

Laboratory Corp of America is violating the law by selling an ovarian cancer screening test without regulatory approval, U.S.... more

khaosworks
added this

Dow Falls Below 10,000

Wall Street is plunging, with the Dow Jones industrials down more than 500 points amid growing fears that the credit crisis is... more

ebindelglass
added this

Fed may cut interest rates again after all

WASHINGTON – With turbulence hitting financial markets as a global credit crisis claims heavyweight victims, suddenly the... more

jenn5
added this

Wall Street Braces Ahead of Tuesday Open

U.S. stocks headed for a mixed open Tuesday, a day after Wall Street's worst day in years, as nervous investors awaited a... more

ebindelglass
added this

Oil prices fall

But is this just a set up? When the market opens on Monday, will it rise by 10 more dollars?

brad62
added this

Stocks tumble as Fannie, Freddie fall sharply

NEW YORK (AP) -- Stocks tumbled Friday as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory. The Dow Jones industrials fell more than 170 points and neared the 11,000 mark for the first time in two years.
ADVERTISEMENT

Investors seemed unimpressed by a statement from Treasury Secretary Henry Paulson, who said the government's focus is ensuring that Fannie Mae and Freddie Mac remain as presently constituted to carry out their mission.

The government-chartered companies at times each lost more than 40 percent on growing speculation that a government bailout is needed. A collapse of the two financiers would cause further shock to the financial system, and trigger more losses to banks and brokerages with significant holdings of mortgage-backed securities.

Global banks and brokerages have scrambled to sell assets and raise capital in an effort to offset nearly $300 billion of write-downs linked to the credit crisis. Citigroup Inc. announced Friday it will sell its German retail banking operation to France's Credit Mutuel for $7.7 billion.

Meanwhile, oil continued its ascent on supply concerns. A barrel of oil vaulted to a record above $147.

The confluence of negative news offset a mostly positive quarterly report from General Electric Co. The conglomerate that owns everything from television network NBC to jet engine plants reported second-quarter profits that met analysts' expectations. However, the outlook across its business lines was mixed.

In midmorning trading, the Dow fell 173.83, or 1.55 percent, to 11,055.19. It last traded below 11,000 on July 25, 2006.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 19.58, or 1.56 percent, to 1,233.81, and the Nasdaq composite index fell 33.03, or 1.46 percent, to 2,224.82.

Light, sweet crude rose $5.08 to $146.73 per barrel on the New York Mercantile Exchange. Behind the rise are concerns about a disruption to tight global supplies amid tensions over Iran's launch of test missiles and the possible renewal of oil-related violence in Nigeria.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 percent from 3.80 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

NEW YORK (AP) -- Stocks tumbled Friday as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and... more