The indexes end down more than 4% in August. Traders continue to be skeptical about the economy. Home prices rose in July, and consumer confidence gains slightly. Gold jumps above $1,250.
Stocks sell off heavily in late trading on more worries about the economy. But deals erupt, with Intel buying Infineon's mobile chip business and 3M buying Cogent. Oil falls; gold moves higher.
The Fed chairman says he'll backstop the economy, no matter what. Hewlett-Packard boosts its 3Par bid. Intel cuts guidance. United Air-Continental merger is OKd.
A slew of important economic reports are due in the week before Labor Day. The key event Friday: The big jobs report for August.
The blue chips reverse an early 102-point decline. New-home sales drop to their lowest level on record. Industrial production is weak. Gold and silver rise.
As earnings season winds down, results are due from Burger King, Barnes & Noble, Toll Bros., Tiffany and big Canadian banks. Economic reports may not offer much cheer.
There will be more fallout from the SEC's fraud charges against Goldman Sachs. But expect good earnings from Apple, Coca-Cola, AT&T, McDonald's and others.
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