Financials led a sharp drop on Wall Street on Thursday, wiping out the previous session's Fed-fueled gains, after brokerages downgraded the two biggest U.S. banks, sparking fears of more credit crisis fallout. Adding to the gloom, Exxon Mobil reported profits that fell short of analysts' expectations due to slim margins from gasoline production and lower natural gas prices.
Stocks sank on Thursday after a confidence-shaking downgrade of Citigroup by a brokerage that put the No. 1 U.S. bank's dividend in question and added to concern the mortgage crisis may claim more casualties. Adding to pressure, Exxon Mobil reported earnings that fell short of expectations.
U.S. stocks rose on Wednesday after signs that the economy is showing strong growth and expectations that today’s Federal Reserve quarter-point cut for its benchmark interest rate will promote growth.
Stocks rose on Wednesday, fueled by investors' expectations the Federal Reserve will cut interest rates later on Wednesday and a stronger-than-expected performance by the economy in the third quarter.
Stock index futures were higher before Wall Street's opening on Wednesday in the run-up to the Federal Reserve's monetary policy announcement, the highlight of which is expected to be a cut in interest rates.
Stocks fell on Tuesday after a weak outlook from Procter & Gamble, disappointing earnings from U.S. Steel and a report showing consumer confidence at a two-year low fueled worries about the economy, consumer spending and corporate profits. Adding to the nervous atmosphere was some uncertainty about the outcome of Wednesday's Federal Reserve interest-rate decision, while a 3 percent pullback in oil prices hit energy stocks.
Stocks fell on Tuesday after disappointing quarterly results from Procter & Gamble and U.S. Steel hurt confidence in the earnings outlook, while a Wall Street Journal article raised doubt the Federal Reserve would lower interest rates this week.
Stock index futures fell on Tuesday after a Wall Street Journal article cast doubt on the chances for a Federal Reserve interest rate cut on Wednesday.
U.S. stocks rose on Monday ahead of Wednesday’s Federal Reserve meeting where policy makers are expected to make an a cut in interest rates.
Stocks rose on Monday as investors bet that the Federal Reserve will cut benchmark lending rates this week and that soaring commodity prices will boost profits of metal and energy producers.
Stocks rose on Monday but the gains looked shaky as investors weighed whether equities still have room to move higher if the Federal Reserve cuts interest rates this week.
Wall Street expects a two-day Federal Reserve meeting this week to end with another cut in interest rates as financial firms struggle with losses tied to subprime mortgages and related securities.
U.S. stocks rose on Friday of optimistic profit forecasts from software giant Microsoft and mortgage lender Countrywide Financial.
Stocks rallied on Friday after Microsoft's upbeat outlook boosted the three major indexes and a profit forecast from lender Countrywide Financial buoyed the struggling financial sector. Stocks extended their gains as the weekend approached, in a sign investors are expecting the Federal Reserve to cut interest rates when it meets next week, analysts said.
Stocks jumped on Friday, driving the Nasdaq up 2 percent briefly and S&P 500 up 1 percent, after lender Countrywide Financial Corp. said it expects to return to profitability this quarter, easing some fears about financial sector losses.
U.S. stocks fell on Thursday as financial leaders such as American International Group and Merrill Lynch declined, fueling concerns that credit market losses will continue to hit financial shares.
Stocks were little changed on Thursday as a batch of weak economic data offset positive earnings from tech companies, including Motorola Inc. Data showed orders for durable goods declined unexpectedly in September. Another report showed a fall in initial jobless claims was smaller than expected. Finally, sales of new homes in September were below expectations.
Stock futures rose on Thursday as results from mobile phone maker Motorola Inc and fellow tech leader EMC Corp helped ease worries about third-quarter earnings.
Stocks fluctuated sharply on Wednesday, first falling on reports of declining home sales and losses related to credit problems at Merrill Lynch but rising amid speculation that the Federal Reserve could lower interest rates.
Stocks recovered from deep losses on Wednesday, amid talk that the Federal Reserve would act to cut the discount rate, the same day that Merrill Lynch rattled markets with its first loss in nearly six years.
The United States has entered a recession, according to highly-regarded investor Jim Rogers, who told Britain's Daily Telegraph newspaper on Wednesday he was switching out of the dollar and into yen, the yuan and the Swiss franc.
Stocks tumbled on Wednesday as a steep quarterly loss at Merrill Lynch & Co. Inc. and executives' warnings about possible future problems deepened investors' concern about the credit crisis.
