JP Morgan Optimistic, Rally Continues, UBS Losses $18 Billion
U.S. stocks added to yesterday’s sharp advance on optimistic words from JP Morgan’s CEO that he foresees a small recovery in the works.
Citigroup Profitable, Stocks Explode Up, Bernanke Optimistic
Great news from Citigroup combined with Ben Bernanke appearing positive as he laid out his plan for regulatory oversight triggered a massive rally on Tuesday.
Huge Pharma Deal, Stocks Sink, Bank of America Success
Despite a day full of good news, stocks continued the downward trend, shrugging off the air of optimism. Merck and Schering Plough announced a pharmaceutical deal amounting to over $41 billion dollars. Bank of America led the DJIA in gains.
Stocks Battle Back, Technology Hurt, Unemployment Spikes
A great closing for the bulls despite continued bad news on the economic front with unemployment spiking up to 8.1%, the highest level since 1984.
Uncertainty Reigns Supreme, Stocks Sink, China Says No
Uncertainty reigned supreme in the stock market today. Citigroup dropped below $1.00 intraday for the first time since 1986. The critical Non Farm Payroll figure will be released tomorrow. The expected number is grim further weighing on stocks.
Stocks Surge, Oil Jumps, Fed Negative
U.S. stocks surged today on renewed hope of a mortgage bailout plan helping consumers maintain ownership. Oil and other commodities jumped up on news that China may institute measures to boost economic growth.
Auto Sales Slammed, Stocks Vacillate, Bernanke Nervous
Stocks fought back hard from the sharp selling on Monday only to have the last effort knocked back down from the break even point. The DJIA ended the day down 37 points.
Market Breakdown, Monster AIG Loss, Surging Volatility
The DJIA broke down below the 7000 support level today for the first time in 11 years. AIG surged the most in the S&P 500, intraday, despite booking monster losses due to a $30 billion dollar cash injection promise from the Feds.
Citigroup Down Big, Stocks Struggle, Economy Shrinks
Stocks struggled today closing lower on the session. The economy shrunk to levels not seen since 1982 as the GDP suffered a 6.2% contraction on an annual basis. The DJIA gave back 119.15 points.
Obama Taxes Wealthy, Dell’s Earnings Plummet, Health Care Declines
Stocks closed lower today after President Obama stated he would seek to increase taxes on the wealthiest Americans. Dell reported a 48% earnings loss in the fourth quarter after the close, capping the negative market sentiment.
Stocks Roller Coaster, Banks Stress Test, Gold Down
Stocks dropped back into negative territory across the indexes in the final 30 minutes of trade as pessimism triggered by negative economic news slipped back into the marketplace. The DJIA ended the day down 80.05 points.
Bernanke Thrills Stocks, Recession Sees End, VIX Falls Hard
U.S. stocks rebounded from yesterday’s sell-off, triggered by Bernanke’s optimistic words that the recession may end this year. Oil followed stocks higher, pushing past the $40.00/barrel mark intraday.