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Stocks rise ahead of Bernanke, Obama speeches
Stock Market News |
2011/09/08 09:20
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Stocks are gaining steam ahead of speeches on the economy by Federal Reserve Chairman Ben Bernanke and President Barack Obama.
Bernanke will detail his outlook for the economy Thursday afternoon. Obama will lay out his jobs plan at a joint session of Congress tonight.
Stocks drifted between gains and losses in early trading after mixed signs on the economy. New applications for unemployment benefits rose last week. At the same time, U.S. exports rose to an all-time high. That could be a sign the economy is growing.
At 11:45 a.m., the Dow Jones industrial average was up 37 points, or 0.3 percent, to 11,453. The S&P 500 rose 3, or 0.3 percent, to 1,201. The Nasdaq gained 13, or 0.5 percent, to 2,562.
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Stocks trade mixed; manufacturing growth slows
Stock Market News |
2011/09/01 08:38
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Stocks are wobbling in midday trading after U.S. manufacturing expanded in August, but at a slower rate than the month before.
Retailers reported strong sales despite wild swings in the stock market and worries about the economy.
The Institute for Supply Management's index indicated that manufacturing expanded for the 25th straight month. Analysts had expected a contraction.
Macy's and Costco Wholesale edged up after their sales rose more than analysts had expected.
The Dow Jones industrial average is down 4 at 11,609 at midday. The Standard & Poor's 500 index is down 1, or 0.1 percent, at 1,217. The Nasdaq composite index is down less than a point at 2,579.
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Stocks recover after Bernanke predicts US growth
Stock Market News |
2011/08/26 09:56
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Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth. Bernanke left open the possibility of more action by the Fed if another recession looks likely. But he announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo. Indexes fell sharply as the speech was released and it became clear that Bernanke was not promising new stimulus measures. The Dow Jones industrial average was down about 78 points shortly before the speech started and slumped as many as 220 points shortly after Bernanke started speaking. It recovered those losses within an hour. By late morning major market indexes were all trading higher. Many traders were disappointed that the Fed chairman didn't offer steps to shore up the fragile economic recovery. Optimism had been building on Wall Street this week that Bernanke might announce some kind of action. Bernanke was speaking at a conference in Jackson Hole, Wyo., the same event where he announced plans for a bond-buying program a year ago. |
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Goldman falls on news that CEO hired top lawyer
Stock Market News |
2011/08/23 10:27
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Goldman Sachs shares fell sharply Monday following news that its CEO, Lloyd Blankfein, has hired a top Washington defense lawyer.
Blankfein and other top executives at Goldman Sachs Group Inc. are facing inquiries from the Justice Department and other agencies on the firm's practices leading up to the financial crisis.
Goldman confirmed a report from Reuters that Blankfein has retained Reid Weingarten from the law firm Steptoe & Johnson LLP. Weingarten is known to have represented top corporate executives who have been charged with wrongdoing including former WorldCom chief Bernard Ebbers.
Weingarten's office didn't immediately respond to requests for comment. Goldman Sachs said in a statement: "Blankfein and other individuals who were expected to be interviewed in connection with the Justice Department's inquiry into certain matters raised in the (Senate's Permanent Subcommittee on Investigations) report hired counsel at the outset."
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Dow stumbles on weak manufacturing report
Stock Market News |
2011/08/01 09:00
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The debt deal rally lasted all of 30 minutes. After gaining 139 points minutes after the market opened Monday, the Dow Jones industrial average sharply reversed course, shedding all of those gains after a key manufacturing index tumbled in July.
The Dow was down than 50 points after the Institute of Supply Management said its manufacturing index fell to 50.9. That was barely above the 50 point figure that indicates growth. Economists had been expecting a much higher reading of 55.
The manufacturing report comes just one trading day after the government said that the economy grew at an annual rate of just 1.3 percent from April through June. This year, the economy has grown at its slowest pace since the recession ended in June 2009. Sharp reductions in short-term government spending could further weaken the economy, analysts say.
The Dow Jones industrial average was down 51 points, or 0.4 percent, to 12,092 in midmorning trading. The broader Standard and Poor's 500 index lost 7, or 0.5 percent, to 1,285. The Nasdaq composite lost 10, or 0.4 percent, to 2,746.
Bond yields fell to the lowest level of the year as investors moved into safer assets. The yield on the 10-year Treasury note fell to 2.73 percent from 2.80 percent late Friday.
Stocks rose early Monday after President Barack Obama and Congressional leaders announced Sunday that they had agreed on a deal to raise the nation's borrowing limit ahead of Tuesday's deadline. Investors have been worried that the U.S. might default if a deal wasn't reached.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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