House Minority Leader Nancy Pelosi, D-Calif., rounded out the super committee by announcing her three House Democratic members for the special bipartisan board. Now the tough work begins: reducing the deficit by at least another $1.5 trillion over 10 years, and as far as the financial markets are concerned, the sooner the reduction is announced, the better.
Gold and silver mining company stocks fell Friday as the broader equity markets posted gains, extending for a second day their rebound from this month's horrendous downdraft.
After a week of gyrations that's seen the Dow Jones Industrial Average rise or fall 400 points for four straight days, it's understandable if U.S. investors are bewildered. Given the tumult, what stance should investors adopt now?
The Dow Jones industrial average rebounded on Thursday soaring 423.37 points, or 3.95 percent, to 11143.31, after a disappointing 520-point loss on Wednesday, the ninth-largest point drop ever, because of growing fears about the health of Europe's banks and the probabilities of a global economic recession. Meanwhile, the Nasdaq gained 111.63 points, or 4.69 per cent, to 2,492.68.
Gold and silver settled lower Thursday after investors returned to stocks amid encouraging news from the Labor Department and stricter margin requirements from the CME Group Inc., which runs US futures markets.
Firmer U.S. stocks pulled world shares higher on Thursday as strong U.S. jobs data took some of the focus away from renewed fears about the health of the euro zone banking system.
With the appointment of nine of 12 members, the "super committee" charged with reducing the budget deficit by at least another $1.5 trillion is taking shape. The body could help stabilize the financial markets by announcing a ?quick-start? agreement on additional debt reduction.
The Dow registered another volatile day Wednesday, plunging 520 points to 10,720 on chatter of additional banking sector concerns in Europe. Further, until investors can sort out which debt concerns are real, and which are not, look for choppy trading conditions to continue.
The stock market spent Wednesday tormenting investors, knocking the Dow Jones Industrial Average down 519.83 points and slamming media stocks.
The Dow Jones industrial average dropped 520 points on Wednesday wiping out Tuesday's rebound as investors continue to worry about the European debt crisis and the health of the global banking system. The Dow's 4.62 percent drop has placed the blue-chip index back below the 11,000 level, closing at the lowest level since last September.
U.S. stocks tumbled more than 4 percent on Wednesday, almost wiping out gains from a relief rally the previous day, as rumors about the health of French banks sparked concern that the euro zone's debt crisis could claim new victims.
Fear returned to Wall Street on Wednesday, sending the S&P 500 to another 4 percent decline, triggered by worries that Europe's debt crisis could engulf French banks and spill onto the U.S. financial sector.
Despite a mix of scandals and failed business purchases, News Corp. was able to beat the Street's expectations with its fourth quarter earnings.
The International Energy Agency says threats to the U.S. and global economies may cut oil demand growth next year by more than 60 percent; however, the group still sees global oil demand little changed this year and in 2012.
With markets reeling, and the economic expansion far from self-sustaining, the pressure will be on Congress? new 'super committee' to cut the budget deficit substantially -- by more than the $1.5 trillion called for ? to calm investors.
World shares regained some ground Wednesday after investors were comforted by the Fed's pledge to keep interest rates near zero for two more years. Despite this, losses on Wall Street ran rampant.
U.S. stocks took another tumble Wednesday, as fears of the weak global economy took hold.
Gold and silver prices rose Wednesday, but a falling stock market pulled down shares of silver mining companies and left gold mining company stocks mixed in midday trading.
To say it's been an unsettling time for U.S. stock investors would be an understatement. The Dow has been on a wild ride, with plunges followed by sudden reversals. Look for market choppiness to continue until investors determine whether the Fed's latest monetary policy decision -- low interest rates for two years -- will be enough to rev-up U.S. GDP growth.
U.S. stocks clawed back most of Monday's losses as a U.S. Federal Reserve promise of at least two more years of near-zero interest rates overshadowed its warning about slowing economic growth. The Fed's statement gave markets a glimmer of hope, with stocks' gains accelerating into Tuesday's close.
Stocks rallied on Tuesday in a volatile session as investors struggled to decipher the Fed's signals on the economy after a dizzying two-week slide.
U.S. stocks rebounded sharply on Tuesday after a major sell-off, but markets remained vulnerable to selling if the Federal Reserve fails to ease fears of a double-dip recession.