Stocks closed lower Monday, snapping last week's rally, amid a fresh wave of financial worries and inflation concerns. General Motors rose.
The latest shoe to drop came this afternoon when Standard & Poor said it was lowering the ratings of Merrill Lynch, Lehman and Morgan Stanley. Traders, though, say the move was not really a surprise and is trailing the market's view.
Stocks declined amid concerns about inflation following a manufacturing report and a fresh wave of concerns in the financial sector.
It's the last day of the month and no one wants to be a hero. But the Street is struggling to find a narrative -- it's not clear where we are, so instead of broad narratives I am getting a lot of little stories. Here are a few observations...
Dell up 8 percent pre-open on a stronger than expected report. But oil is up, bonds are reversing their recent decline, and other metals like gold and copper are up slightly today, though a modest dollar rally continues.
Stocks closed with solid gains, though well off their highs, amid strength in the financial sector and a big decline in oil prices.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
Dow's CEO, Andrew Liveris, noted that first quarter feedstock and energy costs were up "a staggering 42 percent," putting strains on the company and its relations with customers. For most chemical companies, price increases have failed to keep up with raw material increases.
Overall, 3 stocks advanced for every 2 that declined. OK, it's not a roaring start to the summer, but consider the headlines: 1) May Conference Board Consumer Confidence fell to the lowest since October 1992.
Stocks closed with solid gains, led by technology companies such as Apple, as investors bet that a sharp drop in crude oil prices will help shore up consumer and business spending on tech gear.
We are down three out of four days and the uptrend that began with the March bottom has now been broken. Many financials like Lehman are already sitting at or near their March lows.
Swiss bank UBS launched a deeply discounted rights issue worth 16 billion Swiss francs ($15.55 billion) on Thursday at a third below its latest market price in a bid to lure investors to repair its battered balance sheet.