Updated from 12:50 p.m. EDT
The Dow Climbs Again( At 5:40 p.m. EDT) Another week in the books, another gain for the Dow Jones Industrial Average. Not by much, only 0.6%, but it counts. That's the sixth one in a row, and during that time, the index is up 22.7%. For Friday's session, the Dow rose 5.90 points, or 0.1%, to 8131.33, its third consecutive daily advance. Losers actually outpaced winners 16 to 14. American Express ( AXP) had the best percentage gain, up 5.4% to $21.81, while Citigroup ( C) fell the furthest, down 9% to $3.65.
Asleep on Wall Street( At 12:35 p.m. EDT) Just isn't getting any easier for Fritz Henderson. The new CEO of General Motors ( GM) now says a bankruptcy filing for the automaker is "probable," even though it's not the preferred option. The company's got until June 1 to figure it out. The previous acts had all the drama, I suppose. This once-proud icon of American industry is looking at a potential Chapter 11 in a matter of weeks. No big deal, right? Sure wasn't having much of an effect on the stock. Volume's not overly heavy. Recently, GM was down 1 cent at $1.93, its session low. Thus far today it's traded as high as $2.03. A lack of surprise tends to do this, which is to say, not a lot.
This Is Much Better( At 8:58 a.m. EDT) Citigroup ( C) and General Electric ( GE) were both trading up slightly, the former by 1% and the latter by half that, after the Dow components topped analysts' estimates for their most recent quarters Friday. You would almost think nothing else was going on. I mean it's all over this site. What about that thing where the Cleveland Indians came to town Thursday and opened the new Yankee Stadium by thrashing the Bronx Bombers? Isn't Octomom doing something interesting? I don't know what the heck's happened to our priorities. Fine, you want to stick to the facts. You don't like the straying from the very serious happenings in the stock market. Fine. So, as mentioned, GE and Citi. Not everything was perfect. We have been having that minor problem with the recession and the devastation in the financial services sector for a little while, you know.
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