The Dow rallied for a second day on Friday on hopes Washington's stimulus package and a bank rescue plan will bolster the ailing economy.
One week does not make a trend, but the price action would seem to suggest that the parts of the market are ready to signal that a bottom is somewhere on the horizon.
More companies announced layoffs this week as the employment picture continued to dim. News Corp. became the latest victim of the weakening economy, announcing it is planning on cutting jobs after reporting a quarterly loss on Thursday.
More companies announced layoffs this week as the employment picture continued to dim. GlaxoSmithKline and Tiffany & Co. on Thursday became the latest victims of the weakening economy, each cutting an undisclosed number of jobs.
Economists predict another steep decline in payrolls for January, with the jobless rate expected to reach 7.5%.
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Stocks rallied on Thursday on hopes that the government's plan to shore up the financial system could quickly spark lending.
Stocks eked out a gain after a rough morning as banks got a boost from market chatter that the government may suspend a controversial accounting rule blamed for much of the contagion in the financial industry.
The Dow fell on Wednesday after a glum profit forecast from Kraft signaled consumers are skimping even on the basics.
Cisco Systems reported a profit and revenue that beat Wall Street forecasts, but the company said it expects year-over-year sales to fall in the current quarter.
There may be a method to Cisco's madness when it comes to earnings announcements, and not running with the pack. The company reports after the bell tonight, and comes two weeks after the flood of tech earnings began.
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Investors are eager to hear quarterly results from Cisco, Wednesday after the bell. Will the tech titan validate the recent strength in sector?
The Dow and S&P 500 fell on Monday as uncertainty about the Obama administration's plan to stem bank losses dragged down financial shares.
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Stocks declined as uncertainty about the government's so-called "bad bank" plan rattled the market.
On a week dominated by earnings, the economic stimulus plan and discussions over a government-run "bad bank," the major US markets were flat to negative on the week. The Dow and S&P 500 marked their worst January on record, each dropping over 8% for the month.
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