U.S. stocks surge to end volatile day higher; Dow up 117

Date: Thu, 10 Jan 2008 19:02:43 -0500

Date: Thu, 10 Jan 2008 22:06:10 (GMT)

U.S. stocks surge to end volatile day higher; Dow up 117

U.S. stocks lost ground on Thursday after credit-card issuer Capital One
Financial Corp. undershot its profit forecast and major retailers
reported weak December sales, intensifying concerns about the economy's
malaise.

Bank of America reported in talks to buy Countrywide

Bank of America is in advanced talks to acquire Countrywide Financial,
possibly stepping in to save the struggling mortgage lender, The Wall
Street Journal reported on Thursday, citing unidentified people familiar
with the matter.

Delta shares soar as airline moves closer to merger talks

Delta Airline shares jumped more than 12% Thursday on the renewed
potential of a merger following various reports that people within the
company is mulling a potential merger with either United Airlines or
Northwest Airlines.

Weak December retail sales spark 2008 concern

U.S. retailers reported disappointing holiday sales in
December, which in turn sparked some profit warnings, after promotions,
last-minute shopping and gift-card redemptions failed to turn around
lackluster performance in the largest sales month of the year.

Mortgages: Rate on 30-year fixed mortgage at lowest in more than two
years

Weak economic conditions pressured U.S. mortgage rates this week, with
the 30-year fixed-rate mortgage falling to its lowest level since
September 2005.