17Oct/080
Financial Journal for October 17 2008
|
Stock Quotes |
10/10/08 Close: |
% Change from Prior Week |
10/17/08 Close: |
|
Dow Jones |
8451.19 |
4.75, up 401.12 pts |
8852.22 |
|
NASDAQ |
1649.51 |
3.75, up 61.78 pts |
1711.29 |
|
S&P |
899.22 |
4.60, up 41.33 pts |
940.55 |
Market Movers:
- Beige Book
- Recession worries
- Investigation’s open on failed institutions
Important Market Development Summaries:
- Feds launch probe of WaMu’s failure. Oct 15, 2008. CNNMoney.com.
- Former Lehman Brothers CEO subpoenaed. Oct 17, 2008. CNNMoney.com. “Former Lehman Brothers CEO Richard Fuld has been subpoenaed in connection with three grand jury probes into the investment bank's bankruptcy.”
- Economic activity weak across U.S.: Fed Beige Book. Oct 15, 2008. Reuters.com. “Retailers saw consumers pull back… Capital spending decisions were being influenced by economic uncertainty… Conditions remained favorable to agriculture.”
- Dow loses 733 after data feeds recession worry. Oct 15, 2008. Reuters.com. “Worst day since 1987 stock market crash. Dismal monthly U.S. retail sales set the tone for the session, dropping the most in more than three years, while a measure of New York state manufacturing hit its lowest level since the index started in 2001.”
- Wall Street slips as recession worries nag. Oct 17, 2008. Reuters.com. “Stocks fell on Friday on weakness in manufacturing and financial stocks after bleak data on consumer confidence and construction, but the Dow still snapped a disastrous three-week losing streak with it best weekly gain in more than 5 years.”