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Attention bottom fishers. Pay attention today because the market will finally hit bottom. That's the bold prediction of Jefferies managing director Art Hogan, who told CNBC, "Enough is going to be enough. If you look at all the carnage we've done to major market indices the bottom gets put in today."
Stocks opened aggressively higher Thursday as Wall Street sought to break a dismal six-day losing streak.
Certainly it has been a rough year for the markets. Exactly one year ago today, the Dow Industrials and S&P 500 both closed at record highs. Since that day, the Dow has plummeted nearly 5,000 points, and the S&P has dropped a more impressive 600 points.
Global markets turned lower as Wednesday's rate cut by major central banks failed to unlock credit markets, putting pressure on officials to take further action.
S&P futures are up 19 points, and while many think this is because Treasury is actively shopping the idea they will take an ownership stake in U.S. banks, bear in mind that the market now routinely swings in 20 plus point ranges in a day, and often overnight, so futures up 15 is not even unusual any more.
These are unprecedented times. The markets are showing their true animal nature because they are trading on emotions, rather than on technicals or fundamentals.
Watch for more triple-digit market moves Thursday. Stocks could just as easily be up as down if you look at Wednesday's action. Even after major central banks joined the Fed in an unprecedented global rate cut, stocks ended lower after a volatile 400 point swing in the Dow.
Stocks plunged in the final minutes of trading as comments from Fed Chairman Ben Bernanke failed to soothe this cranky market. The Dow Jones Industrial Average lost about 500 points, or 5 percent, breaching the key 9,500 mark. In the past two days, the blue-chip index has lost nearly 900 points. Bank stocks led the decline, with the S&P financial-sector index at its lowest point since May 1997.
Stocks declined after a brief uptick as Fed Chairman Ben Bernanke seemed unable to soothe this cranky market for more than five minutes.
Is one of the world's most celebrated short-sellers still betting against this market?
Wall Street capped its worst week in seven years with a late day selloff as traders briefly celebrated the House's approval of the Wall Street bailout, then yanked their positions ahead of the weekend.
The $700B US Bailout was signed into law on Friday, and the major markets still closed down for the day after a brief rally. The week was devastating to the US stock market with a 7.34% weekly loss for the Dow, an over 9% drop for the S&P and an almost 11% drop for the NASDAQ.
The Vice Presidential debate tonight will likely be one of the most watched ever, often eclipsing the buzz of the presidential debates, Intrade has created a contract measuring which presidential candidate will receive more of a bump from tonight's debate (www.intrade.com).
Technology stocks took a beating in September, but two strategists see bright spots in the sector’s future.
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
Discover 6 stocks that could provide shelter during this storm of uncertainty.
If some other recent offerings are any indication, this might be the time to buy.
With Congress rejecting a Wall Street bailout, markets are turning towards central banks hoping they will stop the decline.
The market screamed as the House vote on the Wall Street bailout bill teetered on the edge of a cliff — and then fell off. At one point, the Dow was down more than 700 points -- its second biggest intraday move on record.
Stocks fell sharply Monday as fear rippled through the market with cracks starting to show in the global financial system and a House vote on the Wall Street bailout bill due later today.