Stocks plunge as manufacturing index sinks in 2008 rout
Wall Street extended its 2008 decline after a regional Fed manufacturing index showed a sharp drop and Moody's placed Ambac Assurance on review for a possible downgrade. The Dow fell 306.95 points to 12,159.21, while the S&P 500 dropped nearly 3 percent amid fears of further debt trouble and a slowing economy.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Dow Jones
Standard & Poor
Philadelphia Federal Reserve
Washington
Moody’s Investors Service
Ambac Assurance Corp
Ambac
Philadelphia Fed
John O’donoghue
Cowen & Co
Merrill CEO Thain Faces Large Losses Amid Subprime Writedowns
Merrill Lynch posted a net loss of $9.91 billion after preferred dividends for 2007 and marked down $11.8 billion in mortgage backed securities with $4.8 billion exposure to CDOs. John Thain, in his first earnings as CEO, warned the worst may not be over despite aggressive write downs totaling about $15 billion.
MENTIONED IN THIS ARTICLE
New York
John Thain
Merrill Lynch & Co
Wall Street
Thain
Stan O'Neal
Merrill Lynch
Nurses face criminal charges after walking out on jobs
Riverhead New York prosecutors charge ten nurses and their attorney with conspiracy and child endangerment after they quit amid claims of demeaning conditions for Philippine hires. The group faces up to a year in jail per count, license loss, and possible deportation if convicted.
MENTIONED IN THIS ARTICLE
Maria Theresa Ramos
Rizza Maulion
Felix Vinluan
Garden City
N.Y
Ramos
Maulion
Riverhead
America
Philippines
Grain futures mixed on Chicago Board of Trade
Agricultural futures closed mixed with Wheat up 14 cents at 9.405 a bushel for March delivery. March corn fell 0.5 cent to 5.02. March oats rose 0.5 cent to 3.22. March soybeans dropped 6 cents to 12.71 a bushel.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Stockyards Springfield Hogs Prices and Direct Purchases
The Associated Press reports Eastern Cornbelt carcass prices by inch BF from 0.5 to 0.9, with prices ranging 36.50 to 52.00. Today's Illinois direct hog purchases show a trading range from 3.00 to 13.00 per hundredweight across weight classes, with lows steady to one dollar lower and light demand amid heavy offerings. Boar prices vary by weight, 3.00 to 15.00 per hundredweight.
MENTIONED IN THIS ARTICLE
Springfield
Illinois
The
Associated Press
Market Watch Summary for January 17 2008 Dow Jones Edge
Daily market roundup records Dow Jones at 12 159 21 with a 306 95 gain as industrials surge. NYSE diary notes 476 advances 2692 declines and 62 unchanged on volume around 2 119 billion shares.
Closing Stocks Highlights From New York Exchange
Wednesday closing prices list Wyse market activity with numerous tickers including Exxon Mobil Chevron Pfizer IBM JPMorgan Chase Coca Cola AXP Warner, noting gains and losses across banks, techs, autos, and energy firms. range shows prices, highs, lows, and daily changes.
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