Stocks continued to rise Wednesday, after major indexes hit new highs for the year Tuesday, as oil prices topped $71 a barrel and industrial production rose for a second straight month.
Wall Street looked set for a higher open Wednesday, after major indexes hit new highs for the year Tuesday, encouraged by Federal Reserve chairman Ben Bernanke's remarks that the US recession was probably over.
Stocks got a weak start after the selloff in China but rebounded by midday after a report showed a surprise drop in crude inventories, which sent oil prices — and energy stocks — soaring.
Stocks got a weak start after the selloff in China but rebounded by midday after a report showed a surprise drop in crude inventories, which sent oil prices — and energy stocks — soaring.
Wednesday, 19 Aug 2009 | Source: The New York Times
The United States economy is out of the emergency room and appears to be on a slow path to recovery, Warren Buffett wrote in an opinion column in the New York Times.
World markets are back in selloff mode Wednesday, with Shanghai's 5 percent tumble the first indication that Tuesday's rally for world stocks might be a one-off event.
Stocks retreated Monday as investors took a breather after last week's run. The Dow was down over 100 points in the first few minutes of trading as banks declined.
Following last week's gains, stock index futures indicated a lower open for the stocks Monday as investors remained concerned about the health of the financial system as the stress-test hype wears off.
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