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U.S. stock market report
1653 ET 22Jan2010-US STOCKS
Wall St sinks on bank, political jitters
U.S. stocks tumbled in their worst three-day slide in 10 months on Friday on fears the White House's plan to curb bank risk-taking would cut profits and a drop in tech shares after Google Inc's disappointing results.
Uncertainty about the Senate's confirmation of Ben Bernanke for another term as the Federal Reserve's chairman also rattled investors in a week when political squabbles helped erase stocks' gains for 2010. For details, see
'Between uncertainty over Bernanke, Obama's bank regulation proposal and the election in Massachusetts, the market is like a cork in the water and the Democrats just hit the flush,' said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. 'It looks like we're headed really low.'
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Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1436 ET 22Jan2010
Options risk gauge jumps as volatility looms
The CBOE Volatility Index surged as U.S. stocks fell for the third straight day, partly weighed down by continued worries about earnings growth after the White House proposed to curb risk-taking by U.S. banks. For details, see The so-called VIX jumped 16.88 percent to 26.03 by late afternoon in a dramatic change in sentiment.
'There is shift in sentiment to concerns of market risk from complacency at the start of the week,' said Scott Fullman, director of investment strategy at WJB Capital Group. 'There are concerns about the impact on the financial system as the political climate in Washington changes.'
The VIX, a 30-day risk forecast priced off of S&P 500 index options, has risen 50 percent after setting a higher low of 17.33 on Tuesday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1355 ET 22Jan2010
Techs lead slide as S&P 500 turns red for the year
U.S. stocks fell for a third-straight day on Friday, dragged lower by technology shares after Google Inc's revenue and chipmaker Advanced Micro Devices Inc's sales outlook disappointed investors. The S&P 500 fell into the red for the year, joining the Dow and Nasdaq, which ended Thursday in negative territory for 2010.
For the year to date, the Dow is off 0.6 percent, the S&P is down 0.2 percent and the Nasdaq has lost 0.7 percent.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1111 ET 22Jan2010-ANALYSIS
Wall St's rout seen as onset of correction
The sharp slide in U.S. stocks this week portends more trouble for Wall Street in the days ahead as investors worry if the recent rally is sustainable. With major indexes breaching key technical support levels, market technicians said Wall Street was likely to see the onset of a long-anticipated correction following a 70 percent run-up in the benchmark S&P 500 from March 2009.
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Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time equity news
U.S. stock market report
1653 ET 22Jan2010-US STOCKS
Wall St sinks on bank, political jitters
U.S. stocks tumbled in their worst three-day slide in 10 months on Friday on fears the White House's plan to curb bank risk-taking would cut profits and a drop in tech shares after Google Inc's disappointing results.
Uncertainty about the Senate's confirmation of Ben Bernanke for another term as the Federal Reserve's chairman also rattled investors in a week when political squabbles helped erase stocks' gains for 2010. For details, see
'Between uncertainty over Bernanke, Obama's bank regulation proposal and the election in Massachusetts, the market is like a cork in the water and the Democrats just hit the flush,' said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. 'It looks like we're headed really low.'
For more please double click
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1436 ET 22Jan2010
Options risk gauge jumps as volatility looms
The CBOE Volatility Index surged as U.S. stocks fell for the third straight day, partly weighed down by continued worries about earnings growth after the White House proposed to curb risk-taking by U.S. banks. For details, see The so-called VIX jumped 16.88 percent to 26.03 by late afternoon in a dramatic change in sentiment.
'There is shift in sentiment to concerns of market risk from complacency at the start of the week,' said Scott Fullman, director of investment strategy at WJB Capital Group. 'There are concerns about the impact on the financial system as the political climate in Washington changes.'
The VIX, a 30-day risk forecast priced off of S&P 500 index options, has risen 50 percent after setting a higher low of 17.33 on Tuesday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1355 ET 22Jan2010
Techs lead slide as S&P 500 turns red for the year
U.S. stocks fell for a third-straight day on Friday, dragged lower by technology shares after Google Inc's revenue and chipmaker Advanced Micro Devices Inc's sales outlook disappointed investors. The S&P 500 fell into the red for the year, joining the Dow and Nasdaq, which ended Thursday in negative territory for 2010.
For the year to date, the Dow is off 0.6 percent, the S&P is down 0.2 percent and the Nasdaq has lost 0.7 percent.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1111 ET 22Jan2010-ANALYSIS
Wall St's rout seen as onset of correction
The sharp slide in U.S. stocks this week portends more trouble for Wall Street in the days ahead as investors worry if the recent rally is sustainable. With major indexes breaching key technical support levels, market technicians said Wall Street was likely to see the onset of a long-anticipated correction following a 70 percent run-up in the benchmark S&P 500 from March 2009.
For more please double click
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.