What a Week: Bear Blast
The Dow Jones Industrial Average slipped 0.4% on the day and 1.4% on the week to close at 12,110.41. The S&P 500 fell 0.4% Friday and 1.1% on the week to close at 1386.95. The Nasdaq Composite fell 0.3% Friday and 0.6% on the week.
The Treasury bond market fluctuated with the data this week, but the 10-year yield ended down slightly at 4.54% from 4.59% as of last Friday. Stocks fought to remain in the green through half of Friday's session. There were some bright spots even in the low-volume afternoon selloff. Starbucks(SBUX Quote), upgraded by Goldman Sachs, gained more than 3% on the day. Railroad company CSX(CSX Quote) gained 6.2% -- pulling the Dow Jones Transportation Average back into positive territory. It ended the day up 0.5% but slid 1% on the week. Traders reported buyout rumors swirling in the rails sector. Even in the subprime space, some lenders are finding ways to plug the holes. Others are now the day-trading favorites, but either way, they've bottomed for the time being. Accredited Home Lenders(LEND Quote) sold $2.7 billion of loans to cover margin calls, and its shares gained 15.6% on the day, after being up as much as 30% Friday. Its shares are up 63.6% from Tuesday's $3.97 closing price. Shares of subprime lender Fremont General(FMT Quote) gained 20.3% on the day.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |














