Bush Saves Automakers, Stocks Mixed, Retailers Suffer
In an unprecedented gesture, outgoing President George Bush approved a $17.4 billion dollar bailout plan for the injured U.S. auto industry. This positive news was counteracted by retail sales being hurt by a Christmas shopping season snow storm and the slow economy. Stocks closed mixed on quadruple witching today with the DJIA dipping -25.88 to 8579.11, the Nasdaq adding +11.95 to 1564.32 and the broad based S&P 500 stepping ahead +2.60 to 887.88.
Research In Motion
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Provident Bankshares
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MAP Pharmaceuticals
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General Motors
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Oil added $2.35 to $33.87, gold dropped $23.20 to $837.40 and the fear index VIX dipped 5.07% to 44.94.
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