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Latest Jack Ablin Items
The Standard & Poor's 500 index closed within a short reach of its all-time high on Tuesday. Rising home prices and orders for manufactured goods drove stocks up from the opening bell.
Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June.
A quiet day on Wall Street turned into the worst sell-off in three months after a Federal Reserve official said he doubted the bank's effort to boost economic growth would work.
The stock market edged higher Wednesday after a court cleared the way for Germany to participate in a European rescue fund. Attention shifted to the Federal Reserve, which began a big two-day meeting.
The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.
Now that the Dow Jones industrial average has closed above 13,000, an all-time high is in sight — just 1,160 points away. But the coast is not quite clear for the markets or the economy.
The Dow Jones industrial average has closed above 13,000 for the first time since May 2008, four months before the financial crisis.
Stocks edged lower and yields for ultrasafe U.S. government debt fell to their lowest level this year Monday while financial markets around the world waited for Greece to nail down a deal to reduce its crushing debt.
Stronger reports on the job market and manufacturing sent stock indexes higher in afternoon trading Thursday. FedEx jumped 7 percent after reporting a surge in earnings.