Investors are dismayed by weak outlooks from Chevron and Alcoa. Costco and Yum results cheer, and Wal-Mart cites strong back-to-school sales. 3rd-quarter PC sales slump. In a modestly improving economy, the Fed sees new housing activity.
The Dow surges 188 points as hopes build that the Federal Reserve and European Central Bank will start new stimulus plans. GDP in the US grows at just a 1.5% rate in the 2nd quarter. Facebook briefly falls nearly to $22; Starbucks slumps.
Facebook shares slump as earnings disappoint. Stocks gain as the European Central Bank's president pledges to do 'whatever it takes.' Starbucks misses Street estimates. Visa and 3M results beat forecasts. Jobless claims drop.
The blue chips fall 74 after the government says fourth-quarter growth is 2.8%; Wall Street was expecting 3%. Facebook may file for its IPO next week. Ford, Chevron and Starbucks drop on earnings letdowns.
The blue chips fall 13, but the S&P 500 pushes ahead at the close. Europe, large oil supplies and slumping natural gas keep markets in check. Lennar sees a 20% gain in orders; shares rise 7%. Crocs shares jump on a bullish sales estimate.
Gold falls below $1,600 an ounce as fears build that Europe's problems are getting worse. The Dow falls 131 points. Stocks of companies with big non-US sales are hit hard. Michael Kors IPO prices at $20; Zynga on deck.
The blue chips end up 23 points as a great October continues. The S&P 500 and Nasdaq rise for a fourth week. Gold and crude oil drift lower. Higher prices boost Chevron profits. Weak sales force Whirlpool to lay off 5,000. Merck earnings rise.
Subscribers give up on the video-rental company. The Dow rises 105 points as Caterpillar batters estimates. Europe inches toward a deal on its debt-and-banking crisis. Oil jumps above $91.
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