Stock market

7 May 2008 -- U.S. stock market indexes tumbled in Wednesday's trading as investors reacted to surging oil prices, which hit another record high. The price of crude oil rose nearly $2 to settle at $123.57 cents a barrel

The Dow Jones Industrial Average lost 1.6 percent (206 points) to close at 12,814. The S&P 500 dropped 1.8 percent (26 points) to end at 1,393. And the NASDAQ lost 1.8 percent (45 points) to close at 2,438.

European stock markets closed higher. London's Financial Times 100 index gained more than 0.7 percent (46 points) to end at 6,261. The CAC 40 in Paris rose almost 0.7 percent (34 points) to close at 5,075 and the DAX in Frankfurt jumped more than 0.6 percent (59 points) to close at 7,076.    » read more »

Calls For Tighter SEC Oversight Of Firms; SEC Chairman Cox Acknowledges Investigators Have Uncovered Improper Practices At Ratings Firms

April 22, 2008 -- Report: Moody's Curried Favor With Clients To Inflate Firm's Market Share -- WASHINGTON, DC -- U.S. Senator Charles E. Schumer (D-NY) today pressed the head of the Securities and Exchange Commission to crack down on conflict-of-interest violations at the major credit-ratings agencies, which he said conspired to inflate an unsustainable credit bubble. Under questioning by Schumer before the Senate Banking Committee, SEC Chairman Christopher Cox disclosed that the firms disregarded their own internal controls meant to prevent the relationship between the firm and its clients from getting too close.    » read more »

WILMINGTON, Del., April 10, 2008 – DuPont today raised its first quarter 2008 earnings estimate to about $1.29 per share, compared to its previous outlook of $1.14 to $1.19 per share which was provided March 14. This represents more than 20 percent growth in earnings in the first quarter. Last year, the company reported first quarter earnings of $1.01 per share, including a $.06 special item charge.

Biocatalysts for Cellulosic Ethanol: Photo by DuPont    » read more »

March 16, 2008 -- The Federal Reserve on Sunday announced two initiatives designed to bolster market liquidity and promote orderly market functioning. Liquid, well-functioning markets are essential for the promotion of economic growth.    » read more »

17 March 2008 -- Asian stocks opened sharply lower and the dollar fell Monday morning despite steps taken by the U.S. Central Bank to avert a credit crisis that threatens to plunge the U.S. economy into recession.

Late Sunday, the Federal Reserve cut its lending rate to banks, about the same time U.S. banking giant JPMorgan Chase agreed to buy cash-strapped rival Bear Stearns.    » read more »

06 February 2008 -- Investors in Asia dumped stocks Wednesday following Wall Street's steep drop overnight. The culprit: new data that point to a faltering U.S. economy.

News that the U.S. services sector shrank for the first time in five years triggered another day of heavy stock selling in Asia.

The services sector accounts for about two thirds of the U.S. economy, and the data adds to worrying signs of a looming recession. A slowdown in the U.S. economy could hurt Asian exporters.    » read more »

23 January 2008 -- Asian stocks recouped some of their steep losses of the past two days after market confidence received a shot in the arm from the U.S. Federal Reserve. But stock analysts say the markets may remain volatile despite Tuesday's U.S. interest-rate cut.

Most Asian indexes jumped within minutes of opening Wednesday as investors heaved a sigh of relief after two days of panic selling.

On Tuesday, the U.S. Federal Reserve cut interest rates by three-quarters of a percentage point - its biggest cut in more than two decades.    » read more »

NEW YORK, NY, December 13, 2007 – News Corporation today announced the completion of its acquisition of Dow Jones & Co., Inc. pursuant to the previously announced merger agreement.

Under the terms of the merger agreement, each share of Dow Jones common stock was converted into the right to receive, at the election of the holder, either (x) $60.00 in cash or (y) 2.8681 Class B common units of Ruby Newco LLC, a wholly owned subsidiary of News Corporation. Each Class B common unit of Ruby Newco LLC is convertible after a period of time into a share of News Corporation Class A common stock.    » read more »

11 December 2007 -- The Federal Reserve, the US central bank, Tuesday cut short-term interest rates for the third time in as many months, but the move did not impress investors on the Wall Street. The New York Stock Exchange took a tumble, anticipating a larger cut.

The quarter point reduction in the overnight fed funds rate, at which banks borrow from each other, brings the overall cut down by a full percentage point since mid-September. This key lending rate now stands at four and one quarter percent. Rates on credit card and home equity debt generally move in tandem with fed funds.    » read more »

01 November 2007 -- The oil price touched $94.25 a barrel before falling back to close Thursday in New York at $93.40.

Oil is up 59 percent in the past year and has risen 10 percent in the past four weeks.

Financial analysts are divided on the outlook for crude. Most predict continuing rises to over $100 a barrel. However, Dennis Gartman, the author of a popular financial newsletter, believes oil has risen in a speculative bubble and will soon fall back sharply.    » read more »

NEW YORK, September 26, 2007 –NYSE Euronext (NYSE Euronext: NYX) today announced that WisdomTree Trust will begin the process of transferring its NYSE-listed exchange traded funds (ETFs) to the NYSE Arca listing and trading platform.

The first scheduled to migrate are the following 14 WisdomTree ETFs beginning on Oct. 11, 2007:

WisdomTree DEFA High-Yielding Equity Fund (DTH)
WisdomTree DEFA Fund (DWM)
WisdomTree Europe SmallCap Dividend Fund (DFE)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
WisdomTree International MidCap Dividend Fund (DIM)    » read more »

Menendez applauds NASDAQ for submitting to CFIUS process, calls for "vigorous and thorough" review

September 20, 2007 -- WASHINGTON – The Borse Dubai stock exchange, which is controlled by the Dubai government, is announcing today that it will purchase a major share in the NASDAQ exchange, as well as the London Stock Exchange.

U.S. Senator Robert Menendez, who was one of the first to raise concerns over the ill-fated Dubai ports deal last year, released the following statement:    » read more »

September 20, 2007 -- “Today's announcement that Nasdaq is partnering with Borse Dubai to acquire the Swedish exchange OMX appears to be good news for both New York and the nation, especially because it gives our City a significant leg-up on our competitors in Europe. The deal is just the latest evidence supporting the case that our Administration has been making: that the globalization of financial markets is an inexorable force, and the future of Wall Street – and the entire U.S. economy – hinges on our ability to harness it.    » read more »

September 17, 2007 -- New York, NY -- Senator Barack Obama is scheduled to deliver the following remarks today at the NASDAQ Marketsite. Obama will argue that the "what's good for me is good enough" mentality that has crept into certain corners of the Washington and the business world has led to bad-for-business practices that don't just offend our morals, but endanger our markets.    » read more »

Cooperation Enhances the Strategic Alliance Between the Exchanges