Stocks Mixed, Google Lifts Nasdaq, Dow Deal Go
Stocks closed mixed today as optimism concerning the bail out plan was counteracted by a severe drop in General Electric’s and other companies’ profit. The major indexes closed well off their daily lows, thanks to Google’s better than expected results and excitement over the FTC approval of a $15.4 billion Dow Chemical buy out of Rohm Haas. The DJIA closed down -45.24 to 8077.56, the tech heavy Nasdaq gained +11.80 to 1477.29, and the broad based, market barometer S&P 500 eased ahead +4.45 to 831.95.
Citigroup
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PowerRating) – Led the DJIA higher rising 11.58% or 0.36 cents to $3.47/share as the government liability offset plan hope lifted financials across the board.
Mastercard
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PowerRating) – Citigroup’s downgrade to sell of the credit card company pushed shares down 2.64% or $3.40 to $125.46/share.
Southwest Airlines
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Capital One
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PowerRating) – The struggling lender fell 11.94% or $2.62 to $19.32/share after boosting its bad auto loans reserves to $1 billion dollars.
Oil climbed $2.80 to $45.87, gold soared $37.00 to $895.80 and the fear index VIX fell 0.04% to 47.27.
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