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Stocks End Week Down
05/09/08 - 04:41 PM EDT
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Activision ATVI gained 14.2% after sales of Guitar Hero 3 and Call of Duty IV led to robust fourth-quarter earnings. Treasury prices were higher. The 10-year note was up 3/32 in price, yielding 3.77%, and the 30-year bond gained 10/32, yielding 4.52%. The dollar was weak against most of its competitors, including a drop of more than half a percent against the euro to $1.548. On the data side, the March U.S. trade deficit shrank to $58.2 billion from $61.7 billion in February, in part because the stumbling greenback made domestic goods cheaper overseas. Analysts expected the deficit to be $61 billion. Meanwhile, markets overseas tumbled. Tokyo's Nikkei fell 2.1% overnight, and Hong Kong's Hang Seng shed 1.5%. Europe's major indices weren't much better. London's FTSE lost 1.1%, and the Paris Cac retreated by 1.9%. Frankfurt's Dax was lower by 1%.
The major averages have been weak all day, with AIG one of the primary reasons.
The major indices continued tracking downward as AIG and rising oil weigh on investors. Crudes trades around $125 a barrel.
More writedowns at AIG weigh on the markets. Crudehovers near $125 a barrel, and the dollar is struggling against its counterparts.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
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