Stocks slid into home plate with a late rally that bumped the Dow up nearly 170 points as oil flirted with $100 a barrel and the market was abuzz with speculation that a resolution for Lehman Brothers could happen within days.
Both Lehman and Merrill dropped notably in the last half hour. Lehman traded north of 450 m shares today, a record, down 41 percent. Merrill traded around $20 most of the day, but then slid below $20 in the last half hour as well, down 17 percent on 145 m shares, 3 times normal.
Stocks swung between positive and negative territory as investors grappled for a direction with oil flirting with $100 a barrel and the market abuzz with speculation that a resolution for Lehman Brothers could happen within days.
CNBC’s Matt Nesto said investors might want to look into placing their money in the railroad sector.
Stocks swung between positive and negative territory as investors grappled for a direction with oil bouncing higher after its brush with $100 a barrel and the market abuzz with speculation that a resolution for Lehman Brothers could happen within days.
Stocks tumbled out of the gate Thursday as buzz about Lehman Brothers stirred jitters about the health of the banking sector.
Commodities continue to drop, as they have for 7 of the last 8 trading sessions. With futures weak again here, we are very close to breaking the recent closing low of July 15 of 1,214.
Investors sent The Dow and the overall stock market sharply lower on Thursday amid signs that the economic slowdown is showing no sign of improvement.
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CSX, the U.S. railroad, reported higher second-quarter net profit that met expectation on Tuesday, as strong pricing offset a 3 percent decline in freight volumes.
The NASDAQ has also hit a new two year low. If this continues, we are heading toward a 90 percent downside day, where 90 percent of the volume is on the downside, one of several that have occurred in the past few months.
Is there any way that earnings could help Wall Street shake off the bear market blues next week?
CSX pulled a fast one by moving slowly at its annual meeting. The nation's third largest freight railroad dragging it out for more than four hours on Wednesday. Four hours that included a long-winded presentation about the company's recovery efforts post-Katrina...
U.S. railroad CSX said results of a Wednesday shareholder vote on a slate of five dissident directors will be announced in July as two activist funds claimed they won at least two seats and cried foul over how the company conducted the balloting.
Following are the “Fast & Furious” trades. Find out how to trade earnings from CSX, Bed Bath & Beyond and other market moving events