Stocks Stage Late Rally to Close Higher
A late rally on Wall Street managed to lift the major averages
firmly into positive territory. Stocks traded sharply lower
earlier in the session, after large overnight declines in Asia and
Europe. Beazer Homes [BZHBZH] shares lost more than 20% as
credit market jitters remain the dominant theme, with problems
reaching far beyond the subprime market.
Rupert Murdoch’s News Corp.
(
NWS |
Quote |
Chart |
News |
PowerRating) finally acquired
Dow Jones
(
DJ |
Quote |
Chart |
News |
PowerRating) for $5.6 billion in cash (full
story).
Daimler Chrysler
(
DCX |
Quote |
Chart |
News |
PowerRating) reported July sales figures
dropped 9%, while Ford
(
F |
Quote |
Chart |
News |
PowerRating) reported a
19.1% decline.
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