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U.S. stocks turned mixed Friday after one report showed consumer sentiment held steady this month and another showed personal spending fell for the first time in two years.
A friend of a friend, who happens to be a senior executive at a New York based media conglom, was lamenting this recently as he braced for another big RIF (reduction in force) at his company
Rick Wagoner meet Charlie Brown. GM's Chairman and CEO now knows how the cartoon character felt getting a box of rocks for Halloween. It looks like Washington/Bush Administration is saying "no thanks" to providing the money needed to make a GM/Chrysler merger happen
Nissan Motor and Suzuki Motor capped a turbulent week for automakers everywhere with their own profit warnings on Friday, as executives predicted a rough ride for the foreseeable future.
U.S. stocks had another wild swing in the final 15 minutes of trading that pumped up the Dow from a gain of about 50 points to nearly 200 points as traders largely shrugged off this morning's GDP report that showed the economy is shrinking.
The governors of six states have sent a letter to federal officials asking that they take "immediate action" to help the troubled domestic automakers.
As we move closer to seeing the Treasury Department approving $5-10 billion in federal loans to back a merger of GM and Chrysler, I've been hit with a wave of comments from readers, viewers, and others that basically amounts to this: We should let GM go bankrupt because they aren't worth saving.
The Dow fell in the last minutes of trading despite a Federal Reserve rate cut and signs that government efforts to shore up credit markets are starting to work.
If you blinked in the final minutes of trading today, you probably got the story wrong. The final hour of trading has become known for its wild swings, but outdid itself this time: After being up about 250 points at 3:54 p.m., those gains evaporated and the Dow Jones Industrial Average ended down 74.16, or 0.8 percent, at 8990.96.
As the Federal Reserve slashed a key interest rate by 50 basis points on Wednesday, Pimco's Bill Gross said he expects rates to hold or decline to 1 percent.
There are also a few mechanical events that may be making a difference. Some mutual funds, for example, end their fiscal year on October 31, and there is some speculation that funds will be taking losses to offset any capital gains.
The Dow Jones Industrial Average rallied 889.35 points marking its second biggest point-move ever. Today's 10.88% jump in the Dow qualifies as the seventh largest percent gain in its history.
Wall Street went on a bargain-hunting bonanza, with a frenzy of activity in the final hour of trading, sending shares up 10 percent.
Investors went on a late-day buying spree, scooping up shares of beaten down stocks and sending the major indexes soaring 7-8 percent.
Volatility reigned again on Wall Street Tuesday as jittery investors had a hard time committing to the morning's early rally -- or to the subsequent paring of gains.
The meeting is normally held in tony Boca Raton, Florida, where golf outings are traditionally as big a part of the conference as the speeches. This year it is being held at the Marriott in midtown New York on a cold, drizzly morning.
Washington doesn't have much of a choice but to give GM the money. If it doesn't, there is a very real possibility Chrysler and GM slide toward bankruptcy.
Stocks opened higher Tuesday after Monday's late selloff as international markets bounced back amid expectations of a U.S. rate cut.
Today the number two Japanese auto market, Honda Motor Co, warned of lower-than-expected annual profits as a deepening financial crisis has hammered demand for cars and sent the yen soaring according to Reuters.
Stock index futures pointed to a substantial gain at the open Tuesday, following Monday's late selloff, as international markets rebounded and investors pondered the effect of an upcoming expected interest-rate cut.