Stocks Dive as Spending Slump Hammers Consumer Economy
Wall Street fell as consumer spending weakness spread across industries from homebuilding to autos and coffee. The Dow closed down about 180 points after mixed signals from Starbucks Toll Brothers and General Motors, with relief from mortgage policy moves and Bear Stearns portfolio cash flow claims failing to offset the broad downturn.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Starbucks Corp
American International Group Inc
General Motors Corp
BlackRock
Bear Stearns
Fannie Mae
Freddie Mac
America
Jim Herrick
Baird & Co
Robert Kapito
Clash of expectations looms over global economic summit
World leaders gather in Washington for a 20 nation summit to chart a response to the financial crisis. Europeans push for broad reform and tighter banking rules while President Bush, in lame duck status, resists sweeping changes. Obama is not at the table. Analysts warn the gap in views risks a unified plan.
MENTIONED IN THIS ARTICLE
Washington, D.C
Bush
Obama
U.S
Japan
Germany
France
Britain
Russia
Canada
Italy
China
India
Brazil
Saudi Arabia
Australia
Nicolas Sarkozy
European Union
Sarkozy
Camp David
New York
Europe
Charles Freeman
Bush Administration
Center For Strategic and International Studies
Pelosi urges emergency aid for U.S. auto makers in bailout debate
House Speaker Nancy Pelosi called for emergency and limited financial help for GM Ford and Chrysler, urging Bush and lawmakers to craft quick bipartisan relief under the bailout package. Senate Leader Reid supported action to save jobs as Obama transition discussions continued.
MENTIONED IN THIS ARTICLE
Washington, D.C
Nancy Pelosi
General Motors Corp
Ford Motor Co
Pelosi
Congress
California
Democrat
Bush Administration
Senate
Harry Reid
D-Nev
Bush
White House
Obama
Oval Office
Ford and
Chrysler LLC
United Autoworkers Union
Ford
FDIC chief faults plan to aid struggling homeowners
FDIC Chairman Sheila Bair criticizes a new joint government industry effort as insufficient to broadly curb foreclosures. The plan aims to limit housing costs to 38 percent of income by reducing mortgage interest rates, but she says it does not go far enough.
MENTIONED IN THIS ARTICLE
Washington, D.C
FDIC
Federal Deposit Insurance Corp
Sheila Bair
Oil dips to near 20 month low at around 60 a barrel
Oil prices slide to about 60.46 a barrel as traders doubt a large Chinese stimulus will curb the global slowdown. Brent falls to 57.21, with NYMEX trading volatile and a wider daily range averaging 5.50.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
Europe
London
Brent
ICE Futures Exchange
Nymex
At&t Inc
Kennemts
KimbCik
Lvsands NY
Almas
Lillyew NY
Lowes
Apple Inc
MeadWvco
ChartSemi
BP PLC
Merck NY
BkotAm NY
Microsoft Nash
City
MorgStan
GoldEn
Oracle
PhilMor
Eeea
Cocac
DTE NY
Prushs&p
Hank
Westmind
Intersectus
Daimler NY
FocusMda
Dell Inc
ATA Inc N
Directv Nasd
Prounsp Amex
Pimco TotRetis Ci
MobileTel
Amreit
ProultFin Amex
GrthAmAm
CapiicBuAm
ProdtGam NY
PHH Corp
Thimstra
CpWidGriAm
Bidz.com
Ekodak NY
Roydshila NY
Fidelity Contra LG
Riviera
Taleo A
Scana NY
Vcoama m
C B Rellis
TrioTch
FMC Corp NY
SearsHidgs
Wamutinvam
Pautive
Spor Spanien Amnex
Vanguard
Dodge & Cox Stock
ProultFin
American Funds EurPacGrAm
Mits
Microsoft
Institx
Genérec
Cisco
Synovuss NY
Pimco TotRetAm
BkofAm
Yahoo
Ussteel
Fidelity Divrin FG
Ishr2k
ProUlDon
Viacomb NY
American Funds
BalAm
WellsFargo
PrUlShDow
RschMotn
Wachovia
Dodge & Cox IntiStk
Ishemkt S
WalMart NY
FundminvAm
Nash
Wells Farg
Fidelity GrowCo
Whrips NY
Pimco TotRet Admial
Vanguard Wellin MA
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Aiken
Aiken, S.C
Aikenstandard
Pat Roberts
Prudential Woodside Realty
Aikensc.com
Turner
Washington Rd
Augusta
Commercia Builders’ Insurance
Igibbs
Blanchardcalhounins
Stock Exchange
Tuesday's Market IN Review
Nasdaq
Daiy Dow Jones
Ganene
AIG
EverGiry
Chana
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