Wagoner Shamed, Automakers Slammed, Volatility Spikes
Stocks dropped steeply today after President Obama rejected a plea from the struggling automakers for Federal aid. The market closed off the lows but the Volatility Index VIX spiked higher as investors sought insurance against further declines.
Stocks Slip, Banks Down, Earning Fears
Stocks slipped today on profit taking and slightly negative words from bank executives. In addition, fear of lagging earnings further weighed on the market with the traditional first quarter earning season starting April 7th.
New Home Sales Jump, Stocks Up, IBM Layoffs
A true roller coaster ride in the stock market ended with shares higher on the day. New Homes Sales posted a 4.7% increase over the record lows last month.
Stocks Slip, International Super Currency, Gold Falls
Stocks fell today failing to extend yesterdays rally. China called for a new international “super currency” due to fears of a collapsing U.S. Dollar.
Home Sales Skyrocket, Monster Stock Rally, Obama Confident
Stocks launched into a monster rally today after Treasury Secretary Timothy Geithner revealed his trillion dollar plan to remove toxic assets from bank balance sheets. This news sent financials higher with the broader market following on housing sales increasing the most in 6 years.
Goldman Exposed, Rally Retreats, FDIC Trouble
The two week stock rally ended on a sour note as shares declined Friday. Despite the gloomy negative close, stocks still posted their first 2 week gain since early 2008.
Suspicious Stocks, Finance Falls, Gaining Gold
The weekly rally hit resistance on Thursday with stocks showing suspicion over the government bail out plan actually working in the real world. Financial shares led the drop as pessimism grew regarding the world’s economic situation.
Stocks Exuberant, Fed Shocks Market, Car Sales Up
The Federal Reserve shocked the market by keeping interest rates unchanged. Stocks, after trading down for most of the day, exploded up on the news with a nearly 300 point swing in the DJIA.
Housing Surprises, Stocks Surge, Bernanke Positive
Optimistic news swept stocks today with better than expected housing starts and positive speculation that Ben Bernanke will up the ante becoming more aggressive with the economy.
AIG Bonus Bust, Rally Fizzles, Barclays Declares Strong Start
Today witnessed a roller coaster like ride in the stock market. Upon hitting near term highs midday, the rally fizzled on news of Obama being outraged at AIG executive bonus pay.
Rally Rolls On, Health Care Leads, Finance Up
The stock rally rolled on Friday, ending the week with the biggest gain since November, 2008. Health care stocks lead the way while financials closed out the week with a stunning 32% increase for shares in the S&P 500.
Monster Rally, Madoff Prison, GE Credit Surprise
Stocks surged today adding to a 3 day winning streak. The ultimate financial con artist, Bernie Madoff, was escorted to prison after pleading guilty. Standard & Poors surprised traders by not downgrading General Electric’s credit rating.