Stocks End Roller Coaster Session with Gains
Falling markets in Europe and Asia led to an early selloff in the U.S., with disappointing retail sales data and credit worries setting the tone. However, an afternoon rally erased the losses and stocks closed higher.
The Dow rose +35.50, the Nasdaq Composite +19.74, and the S&P 500 +6.71.
Carlyle Capital neared collapse, as a deal to save the struggling bond fund fell through, and the Wall Street Journal reported Bear Stearns is “facing increasingly tough trading conditions.”
Bear Stearns
(
BSC |
Quote |
Chart |
News |
PowerRating) was the biggest decliner in the S&P 500, falling nearly 8%.
Aspect Medical Systems
(
ASPM |
Quote |
Chart |
News |
PowerRating) plunged more than 45% after a report in the New England Journal of Medicine said the company devices were ineffective.
Humana
(
HUM |
Quote |
Chart |
News |
PowerRating) gained more than 10%, after losing nearly 14% yesterday.
Fannie Mae
(
FNM |
Quote |
Chart |
News |
PowerRating) and Freddie Mac
(
FRE |
Quote |
Chart |
News |
PowerRating) jumped 9.2% and 7.6% respectively.
The dollar fell below 100 yen for the first time since 1995, gold hit a record high, rising above $1000, and crude oil remained above $110 per barrel.
| Market Snapshot | ||||||||||||
|
| Economic News |
|
|