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The Dow fell in volatile trade on Thursday with Merck being one of the biggest drags on the blue chip index, as investors worried that the budget proposal could strangle profits.
It was another down day on Wall Street as health-care stocks tanked amid worries that President Obama's budget will clamp industry profits.
The action Thursday is again in Washington. There are several key economic reports early in the day, but traders will also focus on the progress of the economic stimulus package and look for any new details on Treasury Secretary Timothy Geithner's financial bailout plan.
In this Web Extra, the traders reveal how they're playing earnings from Aetna, Coca-Cola, and Marriott as well as retail sales and more.
Not all the president’s men are worth owning, Cramer says. Check out his company-by-company review of Barack Obama’s economic support team.
As the auto rescue package becomes a reality for GM and Chrysler, the markets end the week mostly in positive territory, led by small caps with the Russell 2,000 up 4% for the week, even as the auto rally fizzled late Friday. Volatility waned, with the VIX falling 17.23% this week, to close at 44.93 Friday.
Cramer makes the call on viewers' favorite stocks.
Stocks on Wednesday can't help but feel some of the spillover of Tuesday's euphoric upswing, as the Fed winds down its two-day meeting with an anticipated rate cut.
Although the health care industry is not immune to a sluggish economy, the sector presents some attractive opportunities, said Carl McDonald, a senior analyst at Oppenheimer & Co.
Health care stocks have been the stealth performers, and they will likely continue to outperform because of steady earnings, a favorable macro environment and cheap valuations, says Merrill Lynch's Brian Belski.
Health insurer Cigna posted better-than-expected quarterly profit Friday, helped by its Great West acquisition and operating expense controls, but cut the outlook for its main health-care segment.
Oil inventory data could be as much a factor for stocks as energy markets Wednesday, if the seesaw trade between the two markets continues.
Stocks enjoyed an upbeat session after a not-horrible jobs report but both the Dow and Nasdaq ended the holiday-shortened week in bear-market territory.
Stocks opened higher Thursday as the market breathed a collective sigh of relief that the June job loss wasn't worse than expected.
Aetna shares dropped 5 percent and Health Net tumbled 10 percent after a Goldman Sachs analyst slapped "sell" ratings on the two health insurers' stocks Thursday.
June payrolls came in in line with expectations, though there were revisions downward in prior months. No surprise, the ECB raised rates a quarter point to 4.25 percent; Sweden also raised rates. The dollar rose. What's up in Japan? The Nikkei has fallen 11 days in a row, the longest losing streak since 1953.
Following are the week’s biggest winners and losers. Find out why shares of Goldman Sachs and Wyeth popped while Coca-Cola and Denny’s dropped.
Stocks bobbed up and down Thursday, struggling to hold onto gains, as investors weighed oil's retreat against a dismal manufacturing reading and a fresh wave of concern about banks. Oil slipped nearly $5, settling at $131.93 a barrel.
It was a mixed day, which started poorly with a big earnings warning from HMO Coventry, as well as Burlington Northern and Smucker's, which noted higher soybean oil and wheat costs were hurting their bottom line.
Stocks wavered Thursday after a dismal manufacturing reading and a slew of analyst downgrades.