Stocks retreated Tuesday following new worries about rising inflation in Asia and the possibility Ireland might need a bailout.
Inside these posts: Stocks
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BP gains, with traders citing Exxon bid talk
Shares in BP gained on Friday, with traders citing talk that Exxon Mobil was considering a bid for the oil company.
By 10:29 a.m. EDT, BP shares were up 1.1 percent at 450 pence, having hit an intraday high of 451.35 pence on the rumor. Get the full story »
CNA Financial makes offer for CNA Surety stock
CNA Financial Corp. has offered to purchase the stock of CNA Surety Corp. that it doesn’t own.
CNA Surety, which provides surety and fidelity bonds, said its board of directors has formed a special committee to consider the proposal. CNA Financial is offering $22 for each share. Get the full story »
July 9, 2010 at 11:45 a.m.
Filed under: Economy, Exchanges, Investigations, Regulations, Stock activity SEC still unclear on cause of flash crash
U.S. regulators are still trying to ferret out what caused the Dow Jones industrial average to mysteriously drop nearly 700 points in minutes before sharply recovering, the chairman of the Securities and Exchange Commission said Friday. More than two months after the market briefly crashed in May, market regulators are still exploring a number of theories, including an imbalance between buyers and sellers.
“What we clearly understand are what the exacerbating factors were,” SEC chief Mary Schapiro told Reuters in an interview on the sidelines of a conference in Chicago on corporate governance, “like different trading conventions in different marketplaces, liquidity replenishment points, self-help, banded orders.” Get the full story »
Stress tests and retail sales lift the Dow
The Dow climbed 274 points to 10,018 today as investors were encouraged by retail sales in the U.S. and the fact that stress tests are to be done on European banks. Those tests are supposed to show how banks will hold up if they get hit with bad debts from weak European countries such as Greece and Spain.
July 2, 2010 at 5:49 p.m.
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Filed under: Economy, Jobs/employment, Markets, Stock activity Jobs jolt too much for stocks in slow session
A disappointing jobs report sent stocks falling Friday and gave the Dow Jones industrial average its longest losing streak since the worst days of the financial crisis.
The Dow dropped 46 points Friday for its seventh straight loss and its longest slide since October 2008. The Dow and other major indexes posted big losses for a second straight week. Get the full story »
