US Stocks Plunge More Than 300 Points As The Price Of Oil Continues To Crumble
Another plunge in the price of oil is driving stocks sharply lower.
Energy companies led the decline as crude dipped below $50 a barrel Monday.
Other stocks also fell as traders worried that the drop could indicate a weaker global economy and possibly lead to a dangerous, wider drop in other prices in the economy.
The Dow Jones industrial average lost 331 points, or 1.9 percent, to 17,501. It was down as much as 357 earlier.
The Standard & Poor's 500 fell 37 points, or 1.6 ...
Verizon Misses Street 3Q Forecasts
Verizon Communications Inc. on Tuesday reported lower net income but higher revenue in its third quarter, helped by strong wireless subscriber growth and demand for its FiOS Internet services.
The New York-based company earned $3.69 billion, or 89 cents per share, up from $2.23 billion, or 78 cents per share, in the same period a year earlier, when the company had fewer outstanding shares.
The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 92 cents ...
Wall St. Drops More Than 250 Points On Global Growth Concerns
The stock market is closing sharply lower as investors worry that global economic growth is slowing.
The Dow Jones industrial dropped 272 points, or 1.6 percent, to 16,719 Tuesday.
The Standard and Poor’s 500 fell 29 points, or 1.5 percent, to 1,935. The Nasdaq fell 69 points, or 1.6 percent, to 4,385.
Industrial production in Germany dropped the most in five years and the International Monetary Fund cut its outlook for global growth this year and next.
SodaStream plunged 22 ...
Facebook Closes WhatsApp Purchase Now Worth $21.8B
Facebook has completed its acquisition of the mobile messaging service WhatsApp for almost $22 billion, up from the original $19 billion when the cash-and-stock deal was struck early this year thanks in part to the rising price of Facebook shares.
Facebook named WhatsApp co-founder and CEO Jan Koum to its board Monday. WhatsApp is by far the largest acquisition for the Menlo Park, California company, and bigger than any deals made by Google, Microsoft or Apple.
The price that Facebook was ...
How the Dow Jones Industrial Average Did Thursday
A slump in oil prices weighed on the stock market Thursday, pushing the Standard & Poor's 500 index to its third straight loss.
Stocks had started the day higher after the European Central Bank surprised investors by announcing that it had cut its benchmark interest rate to a record low and planned to purchase asset-backed securities in an effort to stimulate the region's ailing economy. Investors were also cheered by some encouraging reports on the U.S. economy.
The gains didn't hold ...
North Miami Beach: Rabbi Yosef Raksin Shot & Killed While Walking To Shul
Police are searching for two suspects who shot and killed a Brooklyn rabbi while he was walking to Shul in North Miami Beach on Shabbos morning.
Miami-Dade Police said 60-year-old Joseph Raksin was walking on the 800 block of NE 175th Street around 9 a.m. when two young males approached him. Raksin was shot during the altercation.
Raksin was airlifted to Jackson Memorial Hospital's Ryder Trauma Center where he died.
Police said Raksin was heading to Bais Menachem Chabad, a synagogue ...
Average US 30-Year Mortgage Rate at 4.14 Percent
Average long-term U.S. mortgage rates rose slightly this week but remained near their lows for the year.
Mortgage company Freddie Mac says the nationwide average for a 30-year loan increased to 4.14 percent from 4.12 percent last week. The average for the 15-year mortgage, a popular choice for people who are refinancing, rose to 3.27 percent from 3.23 percent last week.
Mortgage rates are below the levels of a year ago. They have fallen in recent weeks after climbing last summer when the ...
Stocks Fall After Market Hit Milestones [10:53AM]
Stocks fell early Monday as investors looked ahead to U.S. corporate earnings. The market gave up some of its gains from late last week, when the U.S. reported robust job gains, underscoring a recent trend of stronger hiring and healthy manufacturing.
KEEPING SCORE: The Dow Jones industrial average lost 56 points, or 0.4 percent, to 16,996 as of 10:06 a.m. Eastern. The Standard & Poor's 500 index lost seven points, or 0.4 percent, to 1,978 and the Nasdaq composite fell 15 points, or 0.3 ...
Dow 101: The Dow and How It Works
The Dow Jones industrial average, an index of 30 U.S. blue-chip stocks, is the oldest barometer of the stock market. On Friday, it jumped above 17,000 for the first time in its 118-year history.
WHAT IS IT?
The Dow is a group of 30 big corporations, nearly all of them household names, and its dips and jumps during the trading day reflect changes in their share prices. Its exclusive roster runs from American Express to Walt Disney. Other indexes, such as the Standard & Poor's 500, open ...
Average Rate on 30-Year Mortgages Dips This Week
Average U.S. mortgage rates are near historically low levels.
Mortgage company Freddie Mac said Thursday that the nationwide average rate for a 30-year loan dipped to 4.12 percent, down from 4.14 last week. The average for the 15-year mortgage, which had taken a big dip the previous week, was unchanged this week at 3.22 percent.
Rates on one-year adjustable mortgages averaged 2.38 percent this week, down from 2.40 percent last week.
Mortgage rates are slightly lower than they were at ...
Oil Jumps to Near $106 on Iraq Violence
Oil rose to near $106 per barrel Thursday as an insurgency in Iraq raised the risk of disruption to supplies after OPEC vowed to keep output unchanged.
Benchmark U.S. oil for July delivery was up $1.45 to $105.85 a barrel at 1010 GMT in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract added 5 cents to close at $104.40.
Brent crude, a benchmark for international oils, was up $2.08 to $111.44 a barrel on the ICE exchange in London.
The al-Qaida-inspired ...
Dow Jones Industrial Average Drops Over 200 Points [12:38PM]
The Dow Jones industrial average has dropped more than 200 points after disappointing economic news and a couple bad earnings reports from retailers.
The blue-chip index was down as much as 204 points or 1.2 percent, to 16,409.82 at midday Thursday. The Dow has fallen more than 300 points since the start of trading Wednesday.
The broader Standard & Poor's 500 index slid 23 points, or 1.2 percent, to 1,865. The Nasdaq lost 55 points, or 1.4 percent, to 4,045.
Wal-Mart Stores fell ...
Facebook Plans Campaign To 'Friend' Small Business
Facebook is courting small business owners as part of its drive to increase advertising revenue.
The social media company's operating chief and "Lean In" author Sheryl Sandberg says the key is showing business owners how to find new customers by creating Facebook pages and by buying ads that appear on individual users' pages. It's announcing a campaign called Facebook Fit with workshops in five cities to show small business owners how to use Facebook as a marketing tool.
Facebook is also ...
Amazon Introduces Twitter Service
Amazon wants to make shopping online as easy as a tweet.
The online retailer is introducing a service that lets Twitter users add Amazon.com products to their carts without leaving the social media site.
The service comes as Amazon seeks to make social media a bigger source for sales. Twitter also has been seeking new revenue streams beyond advertising services like promoted tweets.
Under the program, users must link their Amazon.com account with their Twitter account. Then they need ...
Average US 30-Year Mortgage Rate Eases to 4.29 Pct
Average U.S. rates on fixed mortgages declined slightly this week as the spring home-buying season has gotten off to a slow start.
Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan eased to 4.29 percent from 4.33 percent last week. The average for the 15-year mortgage ticked down to 3.38 percent from 3.39 percent.
Mortgage rates have risen almost a full percentage point since hitting record lows about a year ago.
Warmer weather has yet to boost home-buying ...
Dow Closes At A Record High, Erases Loss For Year
The Dow Jones industrial average is closing at an all-time high.
A gain of 45 points Wednesday left the Dow at 16,580, four points above the record high it set on Dec. 31.
The Dow hadn’t been in the black for 2014 until today.
The Standard & Poor’s 500 index increased five points, or 0.3 percent, to 1,883. The index is seven points below the record high set April 2.
The Nasdaq composite rose 11 points, or 0.3 percent, to 4,114.
Twitter slumped 9 percent after its customer ...