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Thursday, May 27, 2010
Major stock averages rallied to reclaim their perch above key milestones, and the dollar fell as concerns about euro-zone debt lessened. The Dow Jones Industrial Average climbed back above the 10,000 mark today with the help of all of its components except Johnson & Johnson, which slipped .2%. Somehow we've found ourselves with just one full day of trading left in May! It was definitely a volatile month as far as the market goes. Hopefully June will bring better news to settle things down. DJIA +284.54 Nasdaq +81.80 S&P 500 +35.11.
Wednesday, May 26, 2010
Stocks started off better today but turned negative late in the session as worries about global growth resurfaced. The Dow Jones Industrial Average was up 135 at its morning high, but the index began to slide by the afternoon. Today was the first day that the Dow closed below 10,000 since early February. The afternoon reversal makes for the third day in a row that the market has had a late-day move that erased the performance it had posted through most of the session. DJIA -69.30 Nasdaq -15.07 S&P 500 -6.08.
Tuesday, May 25, 2010
The morning started rough. Overnight, foreign markets gave up around 3%. Stock futures spelled trouble before the opening bell. True to form, US markets dipped into the 2-3% range, with the Dow dropping below the magic 10,000 mark. By the afternoon, though, the red numbers got smaller. When all was said and done, the S&P 500 actually headed into the green. What a strange day! Now to see how foreign markets respond. DJIA -22.82 S&P 500 +0.38 NASDAQ -2.60
Thursday, May 20, 2010
Worries about Europe's debt crisis sent stocks plunging, leaving major indexes with their first correction since the start of the bull market in March 2009. The declines accelerated late in the session, leaving both the Dow Jones Industrial Average and the S&P 500 off more than 10% from their recent highs. The Nasdaq Composite Index, which first moved into correction territory on May 7, has moved back and forth above the 10%-down threshold since. After its 4.1% drop today, it is now back below the mark. DJIA -376.36 Nasdaq -94.36 S&P 500 -43.46.
Wednesday, May 19, 2010
Stocks slipped today as the market continued to be plagued by worries over the euro zone's debt woes and the potential impact on U.S. companies. The Dow Jones Industrial Average fell as much as 186 points today, but it was only down 66.58 points by the session's close. However, the Dow's financial components were higher as the Senate took a vote on whether to end debate on a bill to overhaul Wall Street regulation. The euro recovered from a four-year low today. But from the long term perspective, it has been sliding due to worries that the euro zone's economy will be slow to recover from its recent credit crisis. DJIA -66.58 Nasdaq -18.89 S&P 500 -5.75.
Monday, May 17, 2010
This afternoon, stocks rebounded from a deep drop as investors' attention shifted back to the U.S. economy and away from potential pitfalls in Europe and China. The U.S. market's moves largely resembled those of the euro, which has been hurt in recent days by fears that a $1 trillion bailout of the European Union's most heavily indebted members may not work as fast as hoped - if at all. Since the euro has dropped for the past four days, bargain hunters grabbed the battered currency, causing it to rise against the dollar today. DJIA +5.67 Nasdaq +7.38 S&P 500 +1.26.
Monday, May 10, 2010
Stocks posted their biggest one-day gain in more than a year, boosted by a nearly $1 trillion bailout package to stem Europe's credit crisis. The jump in U.S. Stocks followed strong gains in the Asian and European markets after the European Union agreed to the enormous bailout package. Optimism that global growth is back on track sent industrials rising. Cummins, which makes diesel engines and automotive parts, soared 10.4%, while building-products maker Masco jumped 10.8%. Regulators and exchange officials met in Washington today to further discuss what caused last week's sudden 1,000-point intraday plunge in the Dow and what rule changes might prevent such incidents in the future. The exchanges also took precautions Monday to make sure the market operated smoothly after futures surged strongly earlier in the morning. In other markets, the U.S. dollar index fell against the euro. DJIA +404.71 Nasdaq +109.03 S&P 500 +48.85.
Thursday, May 06, 2010
Stocks plunged today in a flashback to the panicked trading of 2008. Selling progressed late in the day due to a wave of automated sell orders that turned a nasty drop into a full-blown market upset. At its afternoon low the Dow Jones Industrial Average was down almost 1,000 points, hurt by sharp drops in Procter & Gamble, 3M and other companies that traders said were subject to heavy selling by so-called black boxes or automated trading systems. The Dow recovered much of that loss but still suffered its largest one-day drop since February of 2009. The velocity of the plunge in stocks was astonishing. Investors deserted stocks, risky bonds and commodities and poured money into safe assets like U.S. Treasurys and gold. While there are rumors of trading errors that could have sparked the markets downfall, there is no official word on exactly what caused this unforeseen event. DJIA -347.82 Nasdaq -82.65 S&P 500 -37.75.
Tuesday, May 04, 2010
The stock market suffered its worst drop in three months today as worries spread about Europe's financial stability. The Dow Jones Industrial Average saw its worst decline in both point and percentage terms since February 4th of this year. The decline also represented the Dow's fourth straight triple-digit point move, emphasizing that volatility is returning after a long stretch of trading that had been defined by modest daily moves and light volume. The Nasdaq Composite took the biggest hit of the major indexes, dropping 3%, as Apple and Google, its two most high-profile bellwethers, struggled. In other markets, the euro neared a 12 month low today as it declined to $1.3001. The currency has lost more than 11% of its value against the greenback since the start of the Greek credit crisis in November. DJIA -225.06 Nasdaq -74.49 S&P 500 -28.66.
Monday, May 03, 2010
Stocks bounced back today as rising auto sales, consumer spending and manufacturing activity were seen as increasing evidence of a strengthening economy. The Dow Jones Industrial Average wiped out 90% of its 159-point drop on Friday. Blue chip stocks posted their biggest gain since February 16th in both point and percentage terms, led by economically sensitive components, Caterpillar and Boeing, which each rose 2.7%. Also, Ford and General Motors reported gains in sales of cars and light trucks in April, reflecting continued improvement for the auto industry after one of its toughest years ever. DJIA +143.22 Nasdaq +37.55 S&P 500 +15.57.