News at a Glance

• Fed Sticks: Funds rate held at 0.00% to 0.25%.
• Equities Even: Stocks give back gains after Fed.
• Housing Update: New home sales slipped in May.
• Oracle Beats: Firm tops Q4 estimates, lifts Nasdaq.

The Lowdown

A less-than-stellar economic prognosis from the Federal Reserve left Wall Street nonplussed Tuesday.

Stocks gave up early gains and finished mixed Wednesday after the Federal Reserve held the federal funds rate steady and cited slow but palpable improvements in the economy. The Dow Jones Industrial Average dropped 23 points to 8300. The Nasdaq picked up 27 at 1792, and the S&P 500 climbed 6 to 901.

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News at a Glance

• Quadruple Witching: Four investment vehicles expire.
• Stocks Mixed: Early gains erased as institutionals reshuffle.
• Make It Plural: Apple starts selling iPhone 3G S.
• Slower Decent: IMF official sees softer landing.

The Lowdown

A bumpy session brought a five-week rally to an end.

Stocks were mixed Friday, as institutional investors rebalanced their portfolios on a quadruple witching day. The Dow Jones Industrial Average gave back its early gains to stand down 16 points to 8538. That level represented a 3% dip for the week, the first in five the Dow hadn’t increased. The Nasdaq rose 19 to 1827, and the S&P 500 gained 2 at 921.

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News at a Glance

• Regulation Station: Obama reform proposal coming today.
• Futures Steady: Major indexes aimed for flat start.
• Oil Pulls Back: Crude drops below $70 before inventories.
• Magic Wand Wanted: Adobe posts 30% drop in net income.

The Lowdown

The market appears to have found a tourniquet.

Stocks headed to toward a fairly flat open Wednesday, as traders licked their wounds in the wake of a two-day selloff. Shortly before 7 a.m., Dow, Nasdaq and S&P 500 futures were trading right around fair value.

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News at a Glance

• Money-Back Guarantee: TARP repayments to begin next week.
• Woah, Nellie: Fed to slow asset portfolio expansion.
• Searching for Direction: Major indexes mixed on consumer data.
• Barclays Shrinks: BlackRock to buy BGI for $13.5 billion.

The Lowdown

The consumer remains a point of concern on Wall Street.

Stocks were lower Friday, after an improved but dissappointing reading of the Consumer Sentiment Index failed to pull the major indexes completely out of an early funk and commodities prices eased. The Dow Jones Industrial Average gained 28 at 8799, closing slightly higher than where it started Monday and above its 2009 starting point. The Nasdaq gave up 3 at 1858, and the S&P 500 gained 1 at 946. 

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News at a Glance

• Retail Rebound: Sales rose in May for first time since February.
• Equities Rise: Major indexes higher after economic data.
• Foreclosure Record: Filings top 1 million from March to May.
• Boundless Energy: Crude oil prices top $72 a barrel.

The Lowdown

An improved economic picture has given Wall Street a boost.

Stocks quickly recovered Wednesday’s losses, after a surprise from the labor sector and a nominal retail report helped offset another staggering month of foreclosures. By 10:11 a.m., the Dow Jones Industrial Average had picked up 84 points at 8824. The Nasdaq had climbed 17 to 1870, and the S&P 500 had risen 9 to 948.

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News at a Glance

• Payroll Surprise: Economy lost fewer jobs than expected.
• Unemployment Rises: Rate hit 9.4% in May.
• Stocks In Flux: Traders uncertain after jobs data, but Dow finishes week up 3%.
• Mozilo Charged: Countrywide founder facing fraud suit.

The Lowdown

Wall Street is not quite sure what to make of the latest jobs report.

Stocks wavered after the release of a May jobs report revealed an unexpectedly soft drop in payrolls, but also a disappointing rise in the unemployment rate. The Dow Jones Industrial Average picked up 12 points at 8763, or a 3% gain for the week. That is 9 points short of where it started 2009. The Nasdaq was flat at 1849, and the S&P 500 decreased 2 to 940.

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News at a Glance

• Data on Tap: Jobless claims, Q1 productivity due.
• Bouncing Back: Futures rise ahead of data.
• Bigger Boxes: Wal-Mart to add 22k jobs in ‘09.
• Regulation Station: Reform plan coming June 17.

The Lowdown

The stock market appears set to mark its third session of gains in four days this week.

The major indexes were poised to open higher Thursday, as traders eyed bargains and awaited key economic data. Shortly, before 7:30 a.m., Dow, Nasdaq and S&P 500 futures were trading above fair value.

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News at a Glance

• End of an Era: General Motors files for Chapter 11.
• Data Surprise: Income, constructrion surprise in April.
• Traders Cheer: Indexes jump on GM news, data.
• Dow Makeover: Traverlers, Cisco to Bump Citi, GM.

The Lowdown

Positive economic data, a surge in commodites and a move by a blue chip to get its house in order has traders starting this week on a high note.

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News at a Glance

• Housing Letdown: Rate of new home sales fell in April.
• Oil Pump: Decline in crude inventories boosts oil prices. 
• Smooth Auction: Treasury ends successul week of bond sales.
• Playing Nice: Toys”R”Us buys rival FAO Schwarz.

The Lowdown

A surge in oil prices and a successful Treasury auction countered more concern over the housing sector.

A day after a late swoon left the major indexes in a deep hole, stocks were up Thursday, as traders weighed spotty housing data against an unexpected decline in oil inventories and a strong 7-year note auction. The Dow Jones Industrial Average picked up 103 points at 8403. The Nasdaq gained 20 at 1751, and the S&P 500 increased 13 at 906.

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