WSJ.com: Markets
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Dow Breaks Losing Streak
The Dow industrials gained 133 points to a 13-month high after rate-related comments from a Fed official and strong housing data.
Consumer Spending Looks OK --- for Now
Stimulus is driving Americans' purchases, but labor woes will eventually take their toll. "There will be a reckoning at some point," one economist says.
AIG's Rescue Bedevils U.S.
Some federal officials are pressing the U.S. pay czar to ease up on AIG compensation curbs for 2010, arguing that the firm and taxpayers would suffer if they are too severe.
Lehman to Try to Thaw $11 Billion in Assets in U.K.
The "claim resolution agreement" is a bid to return assets tied up in the estate of Lehman Brothers International.
Banks Scramble as Debt Comes Due
Banks that have spent the past year dealing with a mountain of bad assets now face the prospect of refinancing, at sharply higher costs, trillions of dollars of debt maturing over the next few years.
Nikkei Down on Economy Jitters
Asian stock markets were mixed Tuesday with concerns about the economic outlook taking the Nikkei down 0.5% after a market holiday Monday.
Gold Jumps to Record High
Gold surged to a fresh record high as investors sought insurance against a sliding dollar and the risk of inflationary bubbles in other assets.
Risk Assets Are Back in Favor
Investors poured back into riskier assets as they bet the U.S. will keep interest rates low for longer than anticipated.
Manulife to Buy Stake in ABN Amro TEDA
Manulife FinancialCorp. has signed an agreement to purchase Fortis Bank's 49% ownership in ABN AMRO TEDA Fund Management Co. for the equivalent of $156 million.
Zions to Swap $140 Million of Preferreds
Shift to common shares won't raise Tier 1 levels. One analyst sees need for $500 million capital-raising.
Risk-Takers Pinch the Dollar
The euro and other higher-yielding currencies held on to overnight gains Monday amid a broad rally in global stocks, oil and gold as comments from a Federal Reserve official hurt demand for the greenback.
Bulls Shop for Macy's
Options traders were bullish about Macy's ahead of the swell of shoppers on "Black Friday," and for Petrohawk Energy as crude-oil prices stayed strong.
Apollo Revives NYSE Listing Plan
Apollo Global Management is reviving its plans to list shares publicly on the New York Stock Exchange by early 2010.
Buyers Return to Treasury Market After Two-Year Sale
Reassurance from the Federal Reserve that interest rates would be kept near zero for a while given the rise in the unemployment rate helped encourage buying.
Existing-Home Sales Jump 10.1%
Home resales jumped 10.1% in October, rising far more than expected as a fat tax credit offset fears about joblessness.
Demand Concerns Clip Crude
Crude-oil futures were flat, as persistent concerns over weak U.S. oil demand and high stock levels clipped an earlier rally to near $80 a barrel.
Iran Cuts Dollar from Currency Basket
The head of Iran's Central Bank said the country has gained $5 billion by excluding the U.S. dollar from its currency basket and replacing it with the euro.
Institutional Investors Reject Quant Strategies
European institutional investors have turned their backs on quantitative strategies since the financial crisis, and most of the largest investors in the region favor a more qualitative approach, according to new research.
Lloyds Raises $14 Billion
The U.K. bank said it had raised the maximum $14 billion of contingent core Tier 1 and core Tier 1 capital through its non-U.S. bond exchange offer, and said the U.S. exchange offer is already heavily over-subscribed.
Bank of Israel Raises Key Rate
Israel's central bank raised its key interest rate to 1%, amid signs that the country is rebounding from the global economic crisis quicker and stronger than expected.
Long-Term TIPS May Prove Attractive
Heightened inflation expectations are driving investors into Treasury inflation-protected securities, and Brian Weinstein sees value in long-term TIPS.
Verizon Advances 3%; Chevron, Exxon Rise
The Dow Jones Industrial Average reached a new 2009 closing high, led by telecom companies Verizon and AT&T and energy companies Chevron and Exxon.
Brightpoint Jumps, but Ciena Tumbles 8.9%
Small-capitalization stocks rose in a broad rally, snapping a four-day losing streak. Logistics provider Brightpoint gained, while telecom stock Ciena bucked the trend and fell.
Stocks in the News
The good news and the bad news for some stocks in Monday's trading.
Treasury to Sell $32 Billion
The four-week bills, the same amount sold in last week's auction, will mature Dec. 24.
Miners Lift European, Asian Markets
Cadbury climbs 1.7% in London as more suitors get on line. Tokyo was closed for a holiday.
European Stocks Climb; Gold Hits Another Record
European stock markets surged and gold prices climbed to a record as investors turned once again to riskier assets.
