Tech Leads Advance, Mall Bankruptcy, AIG Dumps Unit
Stocks closed solidly higher today on positive word from the economic front and expectations of strong earnings in the technology and banking sectors. Rosetta Stone, the language learning software company debuted on the exchange today.
Tax Day Protests, Late Day Stock Surge, Economy Stabilizing
The Federal Beige Book, which indicated that the economy may be stabilizing, triggered a late day rally on Wednesday and pushed shares into positive territory at the close.
Bernanke Optimistic, Goldman Sinks, Retail Down
Despite the Fed Chief’s high spirits and Goldman Sachs blowing away earning estimates, stocks ended the day lower. Weak Retail Sales figures weighed heavily on the department store giant Macy’s, with shares dropping 7.50%.
Banks Advance, Stocks Mixed, Wells Fargo Concerned
Stocks closed mixed today after trading in negative territory for most of the session. Yahoo jumped 7.05% upon positive sentiment regarding a search engine deal with Microsoft.
Bank Crushes Earnings, iShares Sold, Stocks Surge
The market surged on news of Wells Fargo crushing first quarter earnings estimates despite the Trade Gap plunging to 9 year lows. The DJIA broke technical resistance at 7777 earlier and 8000 today.
Big Builder Buy Out, Insurers Insured, BAC Struggles
A late day rally pushed stocks into positive territory on Wednesday. News of big builder, Pulte Homes, buying out competitor Centex for $1.3 billion in stock recharged the home builder sector.
Soros Sinks Stocks, Earnings Cause Concern, Consumer Credit Drops
Negative words from influential, billionaire hedge fund investor, George Soros, added to the earnings nervousness depressing shares for the second day this week.
IBM Deal Shaky, Stocks Down, Earning Nervousness
The market’s nervous nature combined with IBM retreating from a $7 billion dollar buy out deal of Sun Microsystems pushed stocks lower on Monday. Ford Motor climbed the most in the DJIA following cost cutting measures which may eliminate the need for government aid.
Stocks Battle Back, VIX Sinks, Unemployment Soars
Unemployment figures indicated the highest number since 1983, however the major indexes paid no mind to this troubling figure. Stocks ended higher on the final trading day of the week.
Trillion Dollar Pledge, Mark To Market Manipulation, Stocks Soar
Stocks rallied aggressively as global leaders at the G-20 meetings pledged $1 trillion dollars to prop up ailing economies.
Geithner Encouraged, Stocks Advance, Data Improved
A nicely positive day for stocks on the heels of encouraging words from Treasury Secretary Timothy Geithner and improved core economic data. Existing home sales and factory orders signaled that the worst is over triggering a strong rally in the major indexes.
Stocks Surge, Microsoft Upgraded, Home Prices Plunge
Good news on the European financial front combined with a solid upgrade in technology giant, Microsoft sent stocks surging higher today. Microsoft advanced 6.01%, leading the tech sector higher after a Davenport upgrade to buy.