See this at: briefing.com| Added on 05/09/09

The April decline in payrolls of 539,000 was a smaller decline than the published economist median expectation of 600,000, but still represents bad economic news.

The April decline in payrolls of 539,000 was a smaller decline than the published economist median expectation of 600,000, but still represents bad economic news. See less

Highlights: Part of the smaller decline is explained by a 72,000 jump in government payrolls, which hardly helps the wealth-producing private sector. There, widespread losses occurred, including a drop of 149,000 in manufacturing and 110,000 in construction. It is hard to derive a positive spin from...

See this at: bloomberg.com| Added on 04/25/09

U.S. stocks fell, ending a six-week winning streak for the Standard & Poor’s 500 Index, as concern grew that credit losses at banks are worsening and drugmakers slid following disappointing earnings at Merck & Co. The benchmark index for U.S. stocks... See more

U.S. stocks fell, ending a six-week winning streak for the Standard & Poor’s 500 Index, as concern grew that credit losses at banks are worsening and drugmakers slid following disappointing earnings at Merck & Co. The benchmark index for U.S. stocks climbed 1.7 percent yesterday on better-than-estimated earnings from Ford Motor Co., American Express Co. and Microsoft Corp. Bank of America Corp., the biggest U.S. bank by assets, sank 14 percent this week as bad loans increased, while Morgan Stanley tumbled 12 percent after its first-quarter loss was wider than analysts estimated. Merck sank 8.9 percent on its 57 percent drop in earnings. See less

Highlights: “The financials are setting a big tone for the market,” said Marc Harris, co-head of global research at RBC Capital Markets in New York. “We still have huge problems ahead.” The S&P 500 slid 0.4 percent to 866.23. The Dow Jones Industrial Average retreated 55.04 points, or 0.7 percent, to...

See this at: bloomberg.com| Added on 04/19/09

U.S. stocks rose, sending the Standard & Poor’s 500 Index to its steepest six-week gain since 1938, as profits at Goldman Sachs Group Inc. and JPMorgan Chase & Co. ignited a rally in bank shares. Bank of America Corp., the largest U.S. lender, and... See more

U.S. stocks rose, sending the Standard & Poor’s 500 Index to its steepest six-week gain since 1938, as profits at Goldman Sachs Group Inc. and JPMorgan Chase & Co. ignited a rally in bank shares. Bank of America Corp., the largest U.S. lender, and JPMorgan, the second-biggest, helped lead the advance. American Express Co., the largest U.S. credit-card company by purchases, climbed 16 percent after saying growth in bad loans slowed. Express Scripts Inc., the third-biggest manager of U.S. drug benefits, jumped 22 percent following its agreement to buy WellPoint Inc.’s pharmacy-benefit management unit. See less

Highlights: The S&P 500 has surged 29 percent since reaching a 12-year low on March 9, posting its first six-week gain since May 2007. That’s the steepest advance since 1938, according to data compiled by Bloomberg. More than $12 trillion in government spending to fix the financial system and revive...

See this at: marketwatch.com| Added on 03/10/09

Stocks finally broke out of their doldrums Tuesday as hopes that banks were finding their feet took the Dow Jones Industrial Average up more than 375 points for its biggest gain since November.

Stocks finally broke out of their doldrums Tuesday as hopes that banks were finding their feet took the Dow Jones Industrial Average up more than 375 points for its biggest gain since November. See less

See this at: marketwatch.com| Added on 03/10/09

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See this at: finance.yahoo.com| Added on 02/24/09

What costs more -- a spark plug or a share of General Motors? A Sunday New York Times or a share of the newspaper company? A General Electric toaster or a share of GE?

What costs more -- a spark plug or a share of General Motors? A Sunday New York Times or a share of the newspaper company? A General Electric toaster or a share of GE? See less

See this at: cnbc.com| Added on 02/19/09

The Dow Jones Industrial Average fell below its November 20 closing low today and hitting a level it has not seen since October 2002. At the same time the Dow Jones Transportation Average also hit its lowest level since 2003.

The Dow Jones Industrial Average fell below its November 20 closing low today and hitting a level it has not seen since October 2002. At the same time the Dow Jones Transportation Average also hit its lowest level since 2003. See less

Highlights: The significance of this concurrence, will put more downward pressure on the markets in the days ahead. Dow Theory, which is one of the oldest technical market timing systems, dictates that this coincidence is a selling trigger. While the technicians that follow the theory do not always...

See this at: bloomberg.com| Added on 02/19/09

U.S. stocks dropped, sending the Dow Jones Industrial Average to a six-year low, as Hewlett-Packard Co. cut its profit forecast and concern about rising credit-card defaults dragged financial shares to the lowest level since 1995.

U.S. stocks dropped, sending the Dow Jones Industrial Average to a six-year low, as Hewlett-Packard Co. cut its profit forecast and concern about rising credit-card defaults dragged financial shares to the lowest level since 1995. See less

Highlights: Hewlett-Packard, the world’s largest personal-computer maker, fell 7.9 percent and technology companies were the biggest drag on the Standard & Poor’s 500 Index. Bank of America Corp. and Citigroup Inc. fell 14 percent each to lead the Dow’s retreat. Prudential Financial Inc. slid 16...

See this at: marketwatch.com| Added on 02/19/09

The U.S. stock market's fall on Thursday initially had investors steering clear of three-month intraday lows tested earlier in the week, with the bear-market bottom called by some in November holding -- yet the Dow Jones Industrial Average finished... See more

The U.S. stock market's fall on Thursday initially had investors steering clear of three-month intraday lows tested earlier in the week, with the bear-market bottom called by some in November holding -- yet the Dow Jones Industrial Average finished at a more than six-year low. The Dow Jones Industrial Average ($INDU:7,465.95, -89.68, -1.2%) sunk 89.68 points, or 1.2%, to end at 7,465.95, with the blue-chip index ending at its lowest level since Oct. 9, 2002. Video: What Bank Nationalization Really Means "I'm not a big support-resistance person, but 7,500 seems to be on everybody's mind; it's a perception problem," said Jack Ablin, chief investment officer, Harris Private Bank. A close below 7,500 would "worry a lot of armchair investors," Ablin said, ahead of the final bell. The blue-chip index on Tuesday fell nearly 300 points to close at 7552.6, just 0.31 points shy of matching a 51/2-year low hit on Nov. 20, 2008. Financials fronted Thursday's declines, with Hartford Financial... See less

Highlights: While the Dow and S&P broke their mid-January lows earlier in the week, the Nasdaq offered an encouraging sign by holding above its comparable level, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. "Investor resolve is clearly getting tested, although I would say that this is...

See this at: cnbc.com| Added on 02/19/09

As we are getting close to the November 2008 lows, here are some key dates for for each of the major indices, both on a closing and intraday basis.

As we are getting close to the November 2008 lows, here are some key dates for for each of the major indices, both on a closing and intraday basis. See less

Highlights: # Last time the Dow closed below 7,552.29 was on 03/12/2003. It closed at 7,552.07. # Last time the Dow crossed below its intraday low of 7,449.38 on 11/21/08 was 03/12/2003. It hit an intraday low of 7,416.64

See this at: online.barrons.com| Added on 02/17/09

WASHINGTON CONTINUES TO DICTATE THE MOOD on Wall Street, but the deference is taking its toll. Congress passed a $787 billion plan Friday that includes a half-trillion in government spending and nearly $280 billion in tax cuts, while President Obama... See more

WASHINGTON CONTINUES TO DICTATE THE MOOD on Wall Street, but the deference is taking its toll. Congress passed a $787 billion plan Friday that includes a half-trillion in government spending and nearly $280 billion in tax cuts, while President Obama promises a proposal to curb home foreclosures. See less

Highlights: Last week's percentage decline was the biggest since the mid-November selloff just before this latest bounce, but whether stocks will snap back once again is a big question. For now, the market remains susceptible to policy-inspired rallies, followed by buyers' remorse when government...

See this at: usatoday.com| Added on 02/10/09

Calling the plan from Treasury Secretary Timothy Geithner short on details, traders and investors slammed the Dow Jones industrials down 382 points, or 4.6%, to 7889, its biggest loss since December.

Calling the plan from Treasury Secretary Timothy Geithner short on details, traders and investors slammed the Dow Jones industrials down 382 points, or 4.6%, to 7889, its biggest loss since December. See less

Highlights: The drubbing took the Dow just 337 points from its bear market low set in November. Meanwhile, a flight to safety pushed U.S. government debt prices up and yields down. The benchmark 10-year note yield fell to 2.82% from 2.99% Monday. Despite hopes the plan would lay out fresh ideas to get...

See this at: marketwatch.com| Added on 02/10/09

In its latest effort to stabilize the broken financial system, the U.S. government will use mostly private money to create a fund of at least $500 billion to recapitalize banks and another fund of $1 trillion to support consumer and business lending,... See more

In its latest effort to stabilize the broken financial system, the U.S. government will use mostly private money to create a fund of at least $500 billion to recapitalize banks and another fund of $1 trillion to support consumer and business lending, Treasury Secretary Tim Geithner announces. See less

See this at: bloomberg.com| Added on 02/10/09

U.S. stocks fell, sending the Standard & Poor’s 500 Index to its biggest drop since Barack Obama’s inauguration, while Treasuries rallied on skepticism that the government’s bank rescue will work. The dollar and gold rose.

U.S. stocks fell, sending the Standard & Poor’s 500 Index to its biggest drop since Barack Obama’s inauguration, while Treasuries rallied on skepticism that the government’s bank rescue will work. The dollar and gold rose. See less

Highlights: Bank of America Corp. and Citigroup Inc. slipped more than 15 percent after Treasury Secretary Timothy Geithner said he’s still “exploring a range of different structures” to bail out lenders. Principal Financial Group Inc. plunged 30 percent on concern the life insurer needs more capital....

See this at: finance.yahoo.com| Added on 02/10/09

The new bank rescue plan landed with a thud on Wall Street. Worried that the revamped financial bailout was far too short on details, especially on how to clean up the books of the banks, investors drove the Dow Jones industrials tumbling more than... See more

The new bank rescue plan landed with a thud on Wall Street. Worried that the revamped financial bailout was far too short on details, especially on how to clean up the books of the banks, investors drove the Dow Jones industrials tumbling more than 380 points. Treasury Secretary Timothy Geithner announced a plan that could send as much as $2 trillion coursing through the banking system and the broader economy and stressed the government would act to stop "catastrophic failure" of financial institutions. But investors fretted that the government was nowhere near untangling the crisis that has paralyzed the financial system and hammered the economy. Wall Street suffered its worst day since Dec. 1. See less

Highlights: "The good news is they are going to spend a trillion dollars," said James Cox, managing partner at Harris Financial Group. "The bad news is they don't know how." The administration called it the Financial Stability Plan, abandoning the old TARP, or Troubled Asset Relief Program. And while...

See this at: bloomberg.com| Added on 02/02/09

U.S. stocks slid, capping the market’s worst January, as more companies reported disappointing earnings and the economy shrank at the fastest pace in 26 years. Procter & Gamble Co. lost 6.4 percent as quarterly sales trailed estimates and the company... See more

U.S. stocks slid, capping the market’s worst January, as more companies reported disappointing earnings and the economy shrank at the fastest pace in 26 years. Procter & Gamble Co. lost 6.4 percent as quarterly sales trailed estimates and the company reduced its annual forecast, while Alcoa Inc. fell 7.7 percent after JPMorgan Chase & Co. increased its 2009 loss estimate for the largest U.S. aluminum producer. Fifth Third Bancorp and Regions Financial Corp. tumbled at least 16 percent on a Sanford C. Bernstein & Co. report that the regional banks are in a “precarious position” and may need to raise more capital. “Procter had disappointing numbers,” said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, New Jersey, which oversees about $2 billion. “The guidance was weak. We’re seeing that from a lot of companies, because there’s a lack of confidence from CEOs to make any prediction about their business model. They’re not seeing any improvement.” The S&P 500... See less

Highlights: The Dow dropped 8.8 percent this month to mark the worst January in its 113-year history. The 30-company benchmark lost 34 percent last year.

See this at: online.wsj.com| Added on 02/02/09

Stocks wrapped up their worst January on record with a final plunge on Friday. The Dow Jones Industrial Average finished January down 8.84% on the month. Previously, the worst January for the Dow had been that of 1916, when it fell 8.64%. Friday, the... See more

Stocks wrapped up their worst January on record with a final plunge on Friday. The Dow Jones Industrial Average finished January down 8.84% on the month. Previously, the worst January for the Dow had been that of 1916, when it fell 8.64%. Friday, the Dow dropped 148.15 points to 8000.86 after briefly dipping below the 8000 mark. See less

Highlights: The Dow has fallen five straight months and in 12 of the last 15. The S&P 500-stock index lost 2.28% Friday to end at 825.88, for cumulative losses in January of 8.57%. Until Friday, its worst January from 1929 onward occurred in 1970, when it lost 7.65%. Both stock-market indexes are off...

See this at: marketwatch.com| Added on 01/29/09

Stocks suffered a broad-based decline Thursday as dire housing-sales and economic reports weighed on the pivotal financial sector. The financial sector and the broad market had rallied Wednesday on hopes that the rumored plan from the Treasury... See more

Stocks suffered a broad-based decline Thursday as dire housing-sales and economic reports weighed on the pivotal financial sector. The financial sector and the broad market had rallied Wednesday on hopes that the rumored plan from the Treasury Department could succeed where others failed. But the outlook for the banks is inextricably linked with that of the economy because of the hundreds of billions of dollars of mortgage securities and consumer loans on their books. Thursday, the Commerce Department said sales of new single-family homes fell 14.7% in December to a record low. Keep an eye on the financials, said Joe Saluzzi, a co-founder of Themis Trading. See less

Highlights: "People really want this market to turn around," said Jonathan Corpina, senior managing partner at Meridian Equity Partners, a New York brokerage firm. But "in reality, after you look at the headlines and digest the information, we're still in this bad recession," and investors beat a...

See this at: thestreet.com| Added on 01/20/09

1/15/09: Interest rates and commodities are again turning lower, the world's economy is deteriorating, and we appear to be in a synchronized global recession. Investor fear is rising, as measured by the VIX, which is trading above the 50 level for... See more

1/15/09: Interest rates and commodities are again turning lower, the world's economy is deteriorating, and we appear to be in a synchronized global recession. Investor fear is rising, as measured by the VIX, which is trading above the 50 level for the first time in a month. The availability of credit is extremely limited on all levels. See less

Highlights: Many, including myself at times, have suggested that the equity market has begun to discount lower corporate profit expectations, but frankly, there is zero visibility to anyone's 2009-2010 forecasts or of the period's likely trajectory. These S&P 500 profit forecasts amount to a moving...

See this at: marketwatch.com| Added on 01/20/09

It’s a historic day for Washington and, at the end of four to eight years, we will almost certainly look back and conclude it was an equally extraordinary day for Wall Street. After he takes the oath of office Tuesday, President Barack Obama will... See more

It’s a historic day for Washington and, at the end of four to eight years, we will almost certainly look back and conclude it was an equally extraordinary day for Wall Street. After he takes the oath of office Tuesday, President Barack Obama will have the power to completely reshape the nation's markets. Will he make them better? See less

See this at: businessweek.com| Added on 01/20/09

Certainly there will be doubters, but already many asset managers have been snapping up stocks they expect to appreciate as a result of the Obama program. Some, such as those of companies expected to benefit from infrastructure rebuilding, already... See more

Certainly there will be doubters, but already many asset managers have been snapping up stocks they expect to appreciate as a result of the Obama program. Some, such as those of companies expected to benefit from infrastructure rebuilding, already have taken off. See less

Highlights: For instance, since Nov. 20 shares of heavy equipment maker Caterpillar (CAT) have jumped 49%, while tractor maker Deere's (DE) stock has leaped 40%. Steel industry shares also have suddenly boomed: AK Steel (AKS) has jumped 106%, Allegheny Steel (ATI), 88%; Nucor (NUE), 85%; and U.S....