Closing Bell Report - news from CBS MoneyWatch.com

Closing Bell Report

MarketMinute.com Market Updates

Published: 04/02/08 05:46 PM EDT

The markets reversed directions to close modestly lower after Federal Reserve Chairman Ben Bernanke warned of a possible recession. The Dow dropped 49 points to 12,606 while Nasdaq slipped a point to 2361.

On the upside

Emcore (EMKR) received a $4.6 million follow-on order from Concentration Solar la Mancha of Mazanares for solar cell receiver assemblies.

Shares of Yingli Green Holding (YGE) rose as a solar power conference convened in Munich, Germany.

Analysts are optimistic that Talbots' (TLB) plans to lower expenses, streamline operations and improve merchandise selections will be successful.

On the downside

Sotheby's (BID) pulled a photogenic drawing from an auction scheduled for next Monday to allow scholars more time to research the origin of the image.

Shares of Thornburg Mortgage (TMA) fell after the Mortgage Bankers Association reported a sharp 28.7% drop in mortgage applications last week.

Stanford Research initiated coverage of Intermec (IN) with a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 712.

Today
03:38 PM		Possible European Assistance For Greece Sends Markets Soaring Growing optimism that the European Union will provide financial assistance to debt laden Greece sent the markets soaring to a sharply higher close with the Dow leaping 150 points to 10,058. Nasdaq climbed 24 points to 2150.
12:25 PM		Germany's Plan To Assist Greece Lifts Markets The markets continued to advance during the midday with the Dow surging 179 points to 10,087 over reports that Germany is drafting a financial assistance plan for Greece. Nasdaq gained 25 points to 2151.
08:49 AM		Markets Open Higher Over Hopes For EU Assistance For Greece Investor optimism that the European Union will provide financial assistance to Greece lifted the markets to a higher open with the Dow soaring 131 points to 10,039. Nasdaq climbed 21 points to 2147.
Mon, Feb 08, 2010
03:39 PM		Concerns About Europe's Debt Load Sink Stocks The Dow tumbled 103 points to 9908, closing below the 10,000 mark for the first time in three months, over concerns about growing debt loads in Europe. Nasdaq dropped 15 points to 2126.
12:13 PM		Markets Mixed Over European Debt Concerns Despite upbeat earnings news, the markets traded mixed during the midday with the Dow losing 22 points to 9989 over continued concerns about European debt and extended global economic malaise. Nasdaq added a point to 2143.
08:53 AM		European Debt Concerns Weigh Down Markets Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.
Fri, Feb 05, 2010
03:32 PM		Mixed Jobs Data Sparks Volatile Trading Day Mixed jobs data sparked a volatile day of trading sending the Dow tumbling below the 10,000 mark before recovering in the late afternoon to close with the blue chip index gaining 10 points to 10,012. Nasdaq climbed 15 points to 2141.
12:02 PM		Greater Than Expected Job Losses Weigh Down Markets Greater than expected job losses in January weighed down the markets during the midday with the Dow dropping 53 points to 9949. Nasdaq slipped 2 points to 2122.
08:49 AM		Unemployment Rates Drops Despite Unexpected Job Losses Despite an unexpected loss of 20,000 jobs in January, the unemployement rate dropped to 9.7%, the lowest level in five months. The markets opened lower with the Dow falling 49 points to 9952 while Nasdaq lost 7 points to 2117.
Thu, Feb 04, 2010
03:34 PM		Fears Of Weak European Economy Sink Stocks Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125.
12:12 PM		Concerns About Europe's Fiscal Health Sink Markets Concerns about European fiscal health sank the markets during the midday with the Dow skidding 215 points to 10,055. Nasdaq plunged 52 points to 2138.
08:49 AM		Jobless Claims Rise, Markets Open Lower Initial applications for unemployment benefits unexpectedly climbed last week to weigh down the markets to a lower open with the Dow plunging 145 points to 10,124. Nasdaq plummeted 33 points to 2157.
Wed, Feb 03, 2010
03:35 PM		Markets Close Lower Over Disappointing Service Sector Growth While job losses were less than expected last month, expansion in the services sector disappointed. The markets closed lower with the Dow losing 26 points to 10,270. Nasdaq added a fraction to 2190.
12:30 PM		Service Sector Expands Less Than Expected Service activity edged up less than expected in January to dampen investor enthusiasm. The markets traded flat during the midday with the Dow slipping 3 points to 10,293 while Nasdaq added a point to 2191.
08:51 AM		Markets Open Flat As Services Sector Posts Modest Gain The markets opened flat with the Dow slipping 3 points to 10,293 while Nasdaq added a fraction to 2190. The nation's services sector posted a modest gain in January.
Tue, Feb 02, 2010
03:42 PM		Markets Soar As Pending Home Sales Rise The markets soared to close higher with the Dow surging 111 points to 10,296 as a gain in pending home sales signalled a possible recovery to the devastated housing market. Nasdaq climbed 18 points to 2190.
11:40 AM		Rise In Pending Home Sales Lifts Markets Pending home sales rose in December to lift investor sentiment along with the markets during the midday with the Dow climbing 86 points to 10,272. Nasdaq gained 13 points to 2184.
08:46 AM		Mixed Open Ahead Of Pending Home Sales Report The markets opened mixed with the Dow adding 6 points to 10,192 while Nasdaq slipped 4 points to 2167. Investors embraced upbeat corporate earnings and await the December pending home sales report.
Mon, Feb 01, 2010
03:37 PM		Strong Manufacturing Activity Lifts Markets To Higher Close Manufacturing activity posted its strongest month in nearly six years sending the markets up to a sharply higher close with the Dow soaring 118 points to 10,185. Nasdaq leaped 23 points to 2171.
12:09 PM		Markets Soar Over Strong Growth In Manufacturing Activity Strong growth in manufacturing activity sent the markets soaring during the midday with the Dow surging 104 points to 10,172. Nasdaq climbed 17 points to 2164.
08:47 AM		Increasing Personal Incomes Lift Markets To Higher Open A greater than expected gain in December personal incomes llifted the markets to a higher open with the Dow climbing 72 points to 10,140. Nasdaq rose 9 points to 2156.
Fri, Jan 29, 2010
03:42 PM		Rumors Of European Bailout Sink Stocks Rumors that European governments may have to bailout their financial institutions sent the markets down to a lower close with the Dow falling 53 points to 10,067. Nasdaq plunged 31 points to 2147.
12:18 PM		Meager Gain For Wages And Benefits Wages and benefits posted a meager 1.5% gain in 2009, the lowest on record. The markets traded mixed during the midday with the Dow rising 52 points to 10,173 while Nasdaq lost 3 points to 2175.
08:51 AM		Markets Open Higher As Economy Expands At Quick Pace The markets opened higher with the Dow gaining 66 points to 10,186 as the nation's economy expanded at its quickest pace in six years. Nasdaq climbed 19 points to 2198.
Thu, Jan 28, 2010
03:47 PM		Weak Forecasts Renew Recovery Concerns Disappointingly weak forecasts among technology companies renewed concerns about the economic recovery with the Dow plunging 115 points to 10,120. Nasdaq plummeted 42 points to 2179.
12:32 PM		Markets Down Over Jobless Claims The markets extended its losses during the midday with the Dow dropping 90 points to 10,145 as initial applications for jobless claims fell less than expected. Nasdaq tumbled 38 points to 2182.
08:41 AM		Disappointing Durable Goods Orders Weigh Down Markets Durable goods orders edged up by a disappointingly small 0.3% in December to weigh down the markets to a lower open with the Dow falling 68 points to 10,167. Nasdaq dropped 26 points to 2194.
Wed, Jan 27, 2010
03:49 PM		Fed Holds Interest Rates Steady, Markets Close Higher Investors embraced the Federal Reserve's decision to hold interest rates steady. The markets closed higher with the Dow rising 41 points to 10,236 while Nasdaq climbed 17 points to 2221.
12:00 PM		New Home Sales Drop Unexpectedly, Markets Fall Sales of new homes posted a surprise drop in December to weigh down the markets during the midday with the Dow losing 54 points to 10,140. Nasdaq slipped 9 points to 2193.
08:52 AM		Mixed Open Ahead Of Rate Decision The markets opened mixed with the Dow falling 30 points to 10,163 while Nasdaq edged up a fraction to 2204 as investors await the Federal Reserve's decision on interest rates.
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