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Stocks pulled off modest gains Friday as enthusiasm for some better-than-expected economic reports outshined a warning from S&P of a possible downgrade on Fannie Mae and Freddie Mac.
Stocks remained fairly range-bound this afternoon, but finished slightly to the upside. The Dow’s 119-point range today is its narrowest in just over a month. However, many of the sectors that performed poorly yesterday continued to be disappointing today.
Stocks wobbled Friday as investors weighed a potential S&P downgrade on Fannie Mae and Freddie Mac against some encouraging economic reports, including consumer confidence and durable-goods orders.
Stocks rose Friday after some robust economic data, including a rebound in consumer confidence and an unexpected increase in durable-goods orders.
Stocks ended sharply lower Thursday as the market got a triple whammy: Oil resumed its ascent, major earnings reports sparked a fresh wave of concern about corporate profits and home sales hit a 10-year low. All three major indexes lost at least 2 percent.
The theater? Citigroup and XTO Energy. Cramer explains why.
After years of false starts, a new industry selling motor fuel made from waste is getting a big push in the United States, with the first commercial sales possible within months.
Fannie Mae up 6 percent pre-open as the House overwhelmingly passed the housing bill. It will get new regulators for Fannie and Freddie, and authorizes the federal government to potentially invest billions in the two companies.
The Dow fought its way higher on Wednesday as oil prices fell and positive sentiment swelled on hopes that lawmakers will soon approve a rescue plan for Fannie and Freddie.
General Motors trailed Japanese rival Toyota Motor in global vehicle sales decisively through the second quarter and first half of the year, hurt by a large decline in North America.
The nation's power grid is sorely in need of being updated. In many areas it's pushed to the limit, especially during high use times like the summer months. Remember a few years ago when there were rolling brownouts in California?
Toyota Motor may cut its 2008 global vehicle sales target by as much as 350,000 units to about 9.5 million because of declining sales in the United States, Japan and Europe, according to news reports.
When the Phil Gramm flap broke out about 10 days ago, with his Washington Times interview miscues about a nation of whiners and a mental recession, other McCain economic advisors were quick to lambaste the former Texas senator. Douglas Holtz-Eakin told the PBS "Nightly Business Report" that Gramm is no longer giving advice to McCain or his aides.
It may be the number one question I get from people when they ask about the struggling U.S. automakers: Who would want these guys if they ever go belly up or get sold?
Following are the week’s biggest winners and losers. Find out why shares of Intel and General Motors popped while ConocoPhillips and AMD dropped..
Stocks finished the day mixed, as disappointing earnings from Microsoft and Google dragged down techs, but gained 3.6 percent for the week, helped by a rally in bank stocks and a sharp drop in oil prices. Oil ended the week down 11 percent at $128.88 a barrel.
The Dow closed with fresh gains Friday due to a smaller-than-expected loss from Citigroup and the biggest weekly dollar drop ever in oil prices. What's the "Word on the Street?"
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
Stocks turned mixed Friday as banks rebounded and Google and Microsoft slammed techs.
First, as oil has dropped like a rock, a lot of money has shifted, at least temporarily from commodities to stocks. Money that had to go someplace, and GM shares were a perfect buy. This stock, in my opinion, was way oversold when it dropped under $9 a share.