Twelve Year Low, Recession Fears, Technology Down
U.S. stocks hit a 12 year low today, retreating to levels not seen since October 1997, amid recession fears and a technology sell off.
Free Market Obama, Stocks Off Lows, Gold Breaks $1000.00
President Obama stepped in to reassure the marketplace that he strongly believes in the free market. This resulted in stocks bouncing off their lows, however, still closing down on the day. Gold broke the magic $1000.00/oz threshold intraday.
Inflation Jumps, Stocks Approach Low, Hewlett-Packard Disappoints
U.S. stocks approached their November lows triggered by a disappointing profit forecast from Hewlett-Packard and a dramatic jump in wholesale inflation. The DJIA dropped 89.68 points, just 16 points above the lows.
Stocks Flat, Housing Record Low, Fed Cuts Growth
U.S. stock markets on Wednesday ended the day mostly flat on the back of record low housing starts, the Fed cutting economic growth projections, and Obama’s $75 billion dollar homeowner rescue plan.
American Express Drops, Stimulus Signed, Stocks Sink
Stocks rebelled against the signing of the stimulus package sinking to near the November lows. The DJIA sunk 297.81 points. Oil dropped steeply below $40 a barrel.
Retail Positive, Stocks Recover, Mortgages Subsidized
The stock market was down steeply prior to roaring to life after a surprising 1% increase in Retail Sales and word of a potential Obama generated mortgage subsidy package to help troubled home owners.
Stimulus Settled, Oil Collapses, Stocks Rebound
U.S. stocks closed higher today after an agreement was reached on the much ballyhooed stimulus plan. Price of crude oil fell below $40.00/barrel. The DJIA added 50.65 points.
Stocks Steep Sell, Grumpy Geithner, Senate Approves
Stocks suffered a steep sell off today despite the Senate’s approval of an $838 billion dollar stimulus package. The major indexes ended in the red with the DJIA dropping below the 8000 support level.
Anxious Mixed Market, Insurers Rally, Coke Fizzle
The stock market anxiously awaiting Treasury Secretary’s Geithner’s announcement Tuesday, closed mixed on the day. Insurance companies rallied on news that their sector may benefit from the stimulus plan.
Stocks Skyrocket, Unemployment Jumps, Bank of America Says No
The worst unemployment numbers since 1974 did nothing to stop stocks from skyrocketing today. Bank of America CEO Kenneth Lewis said no to nationalization pushing the stock higher and adding to the positive feelings in the market.
Surging Stocks, Financial Lead, Fannie Mae Lowers
Financial shares led the day’s rally due to talk of a change in accounting requirements allowing banks not to recognize billions in damaging write downs. Fannie Mae announced that it is lowering credit score requirements for mortgages which further spurred the rise.
Obama Caps Salaries, Stocks Dip, Banks Worried
The stock market closed down despite trading in positive territory for some of the day. Worries of Obama’s stimulus plan potentially not working rocked the financial banking sector. The DJIA fell 121.70 points.