24Oct/080
Financial Journal for October 24 2008
|
Stock Quotes |
10/17/08 Close: |
% Change from Prior Week |
10/24/08 Close: |
|
Dow Jones |
8852.22 |
-5.35, dwn -473.27 pts |
8378.95 |
|
NASDAQ |
1711.29 |
-9.31, dwn -159.26 pts |
1552.03 |
|
S&P |
940.55 |
-6.78, dwn -63.78 pts |
876.77 |
Market Movers:
- Earnings Report
- More Actions from Fed
- Increased Recession Worries
Important Market Development Summaries:
- Fed Chairman Endorses New Round of Stimulus. NYTimes.com. Oct 20, 2008. “Mr. Bernanke’s testimony strengthened the hand of Democrats, who are pushing for a package of spending that could total $150 billion to $300 billion. The testimony could put pressure on Mr. Bush to either enter discussions or risk losing the initiative and appearing behind the curve.”
- Fed Aids Money Markets; Wall Street Falls. Reuters.com. Oct 21, 2008. “The U.S. Federal Reserve and governments around the world loosened strained financial markets on Tuesday by pumping in more money and launching bank rescues.”
- Fed Adds to Its Efforts to Aid Credit Markets. NYTimes.com. Oct 21, 2008. “On Tuesday, the Federal Reserve pledged $540 billion to make sure they really are.”
- Earnings Reports Drive Down Shares. NYTimes.com. Oct 21, 2008.
- Amazon Predicts Weaker Holiday, Shares Fall 14 Percent. Reuters.com. Oct 22, 2008.
- Dow Skids More Than 500 on Profit Forecast Worries. Businessweek.com. Oct 22, 2008.
- Dow finishes day down more than 300 points. MSNBC.com. Oct 24, 2008. “Wall Street joined stock markets around the world in a huge selloff Friday, sending major market indexes to their lowest levels in more than five years on the belief that a punishing economic recession is at hand.”