Markets are in wait-and-see mode ahead of Friday's jobs report, but there are a few events Thursday that could sway the market's direction.» Read More
JP Morgan's $2 per share take over of Bear Stearns is a 93% discount from Bear's closing price of $30 on Friday and 99% of its 52 week high. Here are the biggest 1 day percentage drops of the S&P 500 constituents.
While July existing home sales came in in line with expectations, the pace is still weak and the increase in inventory (to 9.6 months supply at the current sales pace) is especially unwelcome. This occurred before the recent credit crunch, so the concern is that difficulties in the mortgage market may further impact sales in August. However, there are other things to keep in mind.