U.S. stocks post sharp weekly losses; bear-market nears

Date: Fri, 27 Jun 2008 17:04:51 -0400
U.S. stocks post sharp weekly losses; bear-market nears

Stocks continue to fall, unable to bounce back a day after the market
plunged on renewed concerns about financials, credit conditions and oil
topping $140 for the first time.

MarketWatch First Take: Bear market? We've been here before

Bear markets have a certain quality about them: They are, by definition,
preceded and followed by good times, writes David Weidner.

Contrarian investor prefers gold over oil

Contrarian investor Marc Faber said he could see oil rocket to $300 a
barrel if the U.S. attacks Iran, but he prefers gold to oil in normal
circumstances because of the U.S. government's potential curbing of
speculative trading.

Santa Barbara learns to live with offshore drilling

As politicians debate the merits of offshore oil drilling to ease
sky-rocketing oil prices, the pricey coastal town of Santa Barbara has
learned to live with offshore drilling but folks who live there are wary
of more oil reserve exploration in the Pacific.

Financial Stocks: Grim talk on Merrill, Morgan pressures bank shares

Financial stocks are hammered again by renewed worries about the
strength of investment banks' balance sheets after bearish broker
comments about Merrill Lynch and Morgan Stanley.

Markets Friday, 06/27/2008

Friday, 6/27/2008

| Dow : 11346.51 down 106.91

| S & P : 1278.38 down 4.77

| NASDAQ: 2315.63 down 5.74

| Bond (10Y): 3.96%, 99.16

MARKETS:
Bear scare on Wall Street
Stocks tumble for the day and the week, with the Dow briefly falling
into bear market, as oil prices set record and dollar slides.

Oil hits all-time intraday high of $142.54 as stocks slide into bear territory and supply concerns persist.

Date: Fri, 27 Jun 2008 13:40:12 -0400

Oil hits all-time intraday high of $142.54 as stocks slide into bear
territory and supply concerns persist.

Stock selloff accelerates with the Dow dropping more than 120 points and crossing into bear market territory.

Date: Fri, 27 Jun 2008 13:18:03 -0400

Stock selloff accelerates with the Dow dropping more than 120 points and
crossing into bear market territory.

Stocks wabble after Thursday plunge as oil tops $142

Date: Fri, 27 Jun 2008 12:03:33 -0400
U.S. stocks wabble after Thursday plunge as oil tops $142

Stocks wabbled in and out of positive
territory Friday, unable to bounce back a day after the market plunged
on renewed concerns about financials, credit conditions and oil topping
$140 for the first time.

Financial Stocks: Merrill write-down worries pressure sector

Financial-sector stocks get a brief respite, moving up slightly even
though renewed worries about write-downs at large investment banks and
the soaring cost of oil dull their rise.

Economic Report: Incomes get jolt from tax rebates

U.S. incomes, spending and savings surge in May after the government
sends out $48 billion in tax rebate checks to stimulate the economy.

Sony Ericsson warns of flagging cell phone demand

Mobile-phone maker Sony Ericsson says it might not see any profit growth
in the second quarter due to slowing demand for some of its
higher-priced phones and a delay in shipping new models to the market.

Top Lehman execs to give up 2008 bonuses: report

Lehman's CEO and president reportedly will forgo their 2008 bonuses in a
nod to the beleaguered investment bank's recent troubles.

U.S. consumer spending up 0.8% in May, outpaced by growth in personal incomes

Date: Fri, 27 Jun 2008 08:34:30 -0400

U.S. consumer spending up 0.8% in May, outpaced by growth in personal
incomes
6/27/2008 8:31:58 AM

Stocks open up as oil pushes past $142 a barrel and personal income rises on stimulus payments.

Date: Fri, 27 Jun 2008 09:34:03 -0400

Stocks open up as oil pushes past $142 a barrel and personal income
rises on stimulus payments.

Hong Kong's Hang Seng drops 2.7% in early trading

Date: Thu, 26 Jun 2008 22:24:53 -0400

Hong Kong's Hang Seng drops 2.7% in early trading
6/26/2008 10:21:13 PM

Economic stimulus payments send personal income soaring 1.9%.

Date: Fri, 27 Jun 2008 08:34:03 -0400

Economic stimulus payments send personal income soaring 1.9%.

MarketsThursday, 06/26/2008

Thursday, 6/26/2008

| Dow : 11453.42 down 358.41

| S & P : 1283.15 down 38.82

| NASDAQ: 2321.37 down 79.89

| Bond (10Y): 4.03%, 98.69

MARKETS:
Dow in 350-point tumble
Blue-chip indicator ends at a 21-month low as crude hits record high
above $140 a barrel. Goldman Sachs' downgrades of investment banks, GM
drag on markets.

U.S. stocks sharply off; Dow poised for worst close since 2006

Date: Thu, 26 Jun 2008 17:04:49 -0400
U.S. stocks sharply off; Dow poised for worst close since 2006

U.S. stocks fall sharply with the blue-chip index headed for its worst
close since September 2006, with equities slammed as crude oil soars to
new highs and Goldman Sachs Group downgrades U.S. brokers and advises
selling General Motors Corp.

Oil scores record gains as Fed decision weighs on dollar

Crude-oil futures climb to unprecedented levels as weakness in the U.S.
dollar, influenced by the U.S. Federal Reserve's decision to stand pat
on interest rates, sends prices to a peak above $140 a barrel.

Research In Motion shares fall on disappointing outlook

NEW YORK
Shares of Research In Motion slide more than 10% in early trading, a day
after the wireless device maker signaled that future earnings may come
under pressure as it ramps up spending to sustain its breakneck growth
rate.

Europe Markets: Worst Europe finish since Oct. 2005 as banks, dollar
weigh

Stocks in Europe ended Thursday at their worst closing levels in over
two-and-a-half years, with weak U.S. earnings outlooks, a plan by
Dutch-Belgian banking group Fortis to issue new shares and strength of
the euro all combining to weigh on markets.

General Motors shares slump after Goldman says sell

General Motors shares drop 11%, touching lows not seen since the early
1970s, after Goldman Sachs tells its clients to unload their positions
in the face of the deteriorating automotive climate.

Stocks end sharply lower after oil prices surge to a record close. The Dow sinks 350 points, marking its second-worst day this year.

Date: Thu, 26 Jun 2008 16:01:06 -0400
Stocks end sharply lower after oil prices surge to a record close. The
Dow sinks 350 points, marking its second-worst day this year.

Key indexes fall 3% Thursday; Dow industrials off more than 1,100 points so far in June

Date: Thu, 26 Jun 2008 16:08:28 -0400

Key indexes fall 3% Thursday; Dow industrials off more than 1,100 points
so far in June
6/26/2008 4:04:24 PM

Oil settles at all-time high of $139.64/barrel, up $5.09, after setting record intraday high of $140.39.

Date: Thu, 26 Jun 2008 15:03:04 -0400

Oil settles at all-time high of $139.64/barrel, up $5.09, after setting
record intraday high of $140.39.

Dow drops 300 points to 21-month low as oil prices hit record intraday high and blue chips get whacked by downgrades.

Date: Thu, 26 Jun 2008 14:45:18 -0400

Dow drops 300 points to 21-month low as oil prices hit record intraday
high and blue chips get whacked by downgrades.

Oil hits all-time intraday high of $139.95/barrel as traders seize on dollar decline and comments from OPEC nations on price, supply.

Date: Thu, 26 Jun 2008 14:19:03 -0400

Oil hits all-time intraday high of $139.95/barrel as traders seize on
dollar decline and comments from OPEC nations on price, supply.

European stocks' close is lowest since 2005; Dow industrials at nearly 2-year intraday low

Date: Thu, 26 Jun 2008 12:27:41 -0400

European stocks' close is lowest since 2005; Dow industrials at nearly
2-year intraday low
6/26/2008 12:24:23 PM

The Dow drops 200 points after Goldman Sachs downgrades Citigroup and GM. Oil jumps over $3 a barrel.

Date: Thu, 26 Jun 2008 10:56:04 -0400

The Dow drops 200 points after Goldman Sachs downgrades Citigroup and
GM. Oil jumps over $3 a barrel.

Breaking News: Supreme Court backs 2nd Amendment gun right

Date: Thu, 26 Jun 2008 09:17:48 -0500

WASHINGTON (AP) - The Supreme Court says Americans have a right to own
guns for
self-defense and hunting, the justices' first definitive pronouncement
on gun rights in U.S. history.

Economy grew at 1% annual rate in the first quarter, according to a revised government figure.

Date: Thu, 26 Jun 2008 08:33:03 -0400

Economy grew at 1% annual rate in the first quarter, according to a
revised government figure.

Stocks open lower - Dow drops more than 125 points - as oil spikes $4 and the dollar dips.

Date: Thu, 26 Jun 2008 09:33:03 -0400

Stocks open lower - Dow drops more than 125 points - as oil spikes $4
and the dollar dips.

Oil surges by as much as $4.25 a barrel as the dollar weakens; now trading at $137.82.

Date: Thu, 26 Jun 2008 09:09:03 -0400

Oil surges by as much as $4.25 a barrel as the dollar weakens; now
trading at $137.82.

Markets Wednesday, 06/25/2008

Wednesday, 6/25/2008

| Dow : 11811.83 up 4.40

| S & P : 1321.97 up 7.68

| NASDAQ: 2401.26 up 32.98

| Bond (10Y): 4.10%, 97.72

MARKETS:
Stocks trim gains after Fed
Nasdaq and S&P 500 rise on lower oil prices and Fed decision to hold
rates steady. But the Dow gives up gains on Boeing downgrade, reversal
in financial shares.

Research In Motion earnings double; forecast disappoints

Date: Wed, 25 Jun 2008 17:04:41 -0400
Research In Motion earnings double; forecast disappoints

SAN FRANCISCO
Research In Motion sees both revenue and earnings more than double in
its first fiscal quarter thanks to continued strong sales of its
BlackBerry smart phones, though the company's forecast for the current
period disappointed investors.

U.S. stocks answer Fed with mild rise

U.S. stocks held modest gains in afternoon action as the price of crude
oil slid to under $133 a barrel and investors awaited comments from the
Federal Reserve.

The Fed: Fed sharpens its focus on inflation

The Federal Reserve sharpens its focus on inflation, saying that the
upside risks to inflation have increased and keeping interest rates
unchanged for the time being.

'Oil shock' stems from fears of future shortfall: consultant

A "shortage psychology" in oil markets is overshadowing news of fresh
discoveries and falling demand to drive oil prices to record levels, the
head of influential energy consultancy Cambridge Energy Research
Associates says.

States sue Countrywide, CEO as shareholders approve takeover

Attorneys general from two states file separate lawsuits against
Countrywide and its chief executive, the same day the mortgage lender's
shareholders approved the proposed takeover by Bank of America.

Oil settles $2.45 lower at $134.55 a barrel, after sinking more than $5 at one point following a surprise rise in crude supplies.

Date: Wed, 25 Jun 2008 15:15:09 -0400

Oil settles $2.45 lower at $134.55 a barrel, after sinking more than $5
at one point following a surprise rise in crude supplies.

Breaking News: Fed holds interest rates steady

Date: Wed, 25 Jun 2008 13:14:36 -0500

WASHINGTON - The Federal Reserve has decided to leave a key interest
rate unchanged, bringing an end to a string of consecutive rate cuts
aimed at keeping the country out of a deep recession.

Countrywide shareholders approve buyout offer from Bank of America.

Date: Wed, 25 Jun 2008 12:28:03 -0400

Countrywide shareholders approve buyout offer from Bank of America.

Breaking News: Court cuts Valdez damages, rejects death for child rape

Date: Wed, 25 Jun 2008 09:21:47 -0500

WASHINGTON (AP) -- The Supreme Court on Wednesday cut the $2.5 billion
punitive damages award in the 1989 Exxon Valdez disaster to $500
million. Also, justices struck down a Louisiana law that allows the
execution of people convicted of raping a child.

U.S. orders for durable goods unchanged in May but better than expected

Date: Wed, 25 Jun 2008 08:34:11 -0400

U.S. orders for durable goods unchanged in May but better than expected
6/25/2008 8:30:58 AM

Stocks open higher Wednesday as investors await Fed rate decision.

Date: Wed, 25 Jun 2008 09:31:04 -0400

Stocks open higher Wednesday as investors await Fed rate decision.

U.S. new-home sales fall 2.5% in May

Date: Wed, 25 Jun 2008 10:03:57 -0400

U.S. new-home sales fall 2.5% in May
6/25/2008 10:00:51 AM

Markets Tuesday, 06/24/2008

Date: Tue, 24 Jun 2008 17:31:04 -0400
Markets Tuesday, 6/24/2008

| Dow : 11807.43 down 34.93

| S & P : 1314.29 down 3.71

| NASDAQ: 2368.28 down 17.46

|Bond (10Y): 4.10%, 98.09

MARKETS:
Stocks slip on economic woes
Wall Street ends a tough session lower as investors weigh weak consumer
confidence and housing reports ahead of the Fed decision.

U.S. stocks end lower on eve of Fed's interest-rate decision

Date: Tue, 24 Jun 2008 17:04:17 -0400
U.S. stocks end lower on eve of Fed's interest-rate decision

U.S. stocks finish an erratic session modestly lower, with sentiment
turning cautious one day ahead of the Federal Reserve's interest rate
decision.

Yahoo shares whipsawed on reports of new Microsoft talks

Shares of Yahoo Inc. see sharp gains as well as drops after various
media outlets report rumors that talks with Microsoft Corp. are back on,
but disagree as to the scope of those discussions.

Economic Report: Four years of home-price gains wiped out: Case-Shiller
data

Home prices in 20 major U.S. cities have dropped a record 15.3% in the
past year and are now back to where they were in 2004, the Case-Shiller
home price index says. A similar regional index compiled by the
government shows a smaller decline.

iPhone subsidies likely to raise stakes, analysts say

The latest parlor game among analysts involves guessing how much AT&T is
going to pay to subsidize the cost of the device for consumers.

Midday Report: U.S. consumer confidence plunges again in June

Date: Tue, 24 Jun 2008 12:03:35 -0400
U.S. consumer confidence plunges again in June

Worries about the economy and jobs drive consumer expectations to a
record low in June, while confidence moved to its fifth-lowest reading
ever.

Economic Report: Four years of home-price gains wiped out: Case-Shiller
data

Home prices in 20 major U.S. cities have dropped a record 15.3% in the
past year and are now back to where they were in 2004, the Case-Shiller
home price index says. A similar regional index compiled by the
government shows a smaller decline.

UPS shares near five-year low after profit forecast is cut

Shares of UPS skid 5% to a nearly five-year low after the
package-delivery giant slashes its second-quarter outlook because of
soaring fuel prices and a sluggish U.S. economy.

Dow Chemical raises prices on energy costs, again

For the second time in a month, Dow Chemical Co. is significantly
raising product prices to offset a surge in costs for energy and raw
materials.

Kroger profit rises better-than-expected 15%

Supermarket chain Kroger says its first-quarter profit rose a
better-than-expected 15% after lowering prices and expanding its generic
drug and discounted gas programs to lure budget-conscious shoppers.

Key measure of consumer confidence tumbles to 5th lowest reading ever as concern grows over jobs, business conditions.

Date: Tue, 24 Jun 2008 10:03:03 -0400

Key measure of consumer confidence tumbles to 5th lowest reading ever as
concern grows over jobs, business conditions.

Wall Street gets off to slow start as Fed meeting on interest rates begins. Oil prices fall after shooting higher.

Date: Tue, 24 Jun 2008 09:32:09 -0400

Wall Street gets off to slow start as Fed meeting on interest rates
begins. Oil prices fall after shooting higher.

Home prices declined a record 15.3%, according to the S&P/Case-Shiller 20-city index.

Date: Tue, 24 Jun 2008 09:02:09 -0400

Home prices declined a record 15.3%, according to the S&P/Case-Shiller
20-city index.

Bond insurers seek to cut $125 billion in contracts: report

Date: Mon, 23 Jun 2008 17:04:10 -0400
Bond insurers seek to cut $125 billion in contracts: report

Bond insurers, including Ambac, MBIA and Financial Guaranty Insurance
Co. are trying to unwind $125 billion of guarantees they sold on risky
debt securities, the Financial Times reports.

MarketWatch First Take: Saudis seize oil market's half-baked blame game

Saudi officials put out the word this weekend that a world of
cash-strapped motorists wanted to hear: They plan to boost output. So
why are oil prices up in Monday trading?

Real Estate: Housing slump rivals deepest slowdowns in 60-plus years:
Report

The housing slump, already shaping up to be the worst in a generation,
still hasn't run its full course, according to Harvard University's
annual report on housing, released on Monday.

Dubai's $82 billion aerospace gamble

It's a windswept desert of dunes, rocks and 120-degree heat home to
camels, snakes and antelope. Cutting through this desolate landscape, a
dark tongue of asphalt is the only evidence that a project first dreamt
of 30 years ago -- to make Dubai the world's top airport hub and a
global aerospace player -- is on the verge of coming true.

Speculative trading in crude oil surges: report

Date: Mon, 23 Jun 2008 12:03:26 -0400
Speculative trading in crude oil surges: report

Speculators now account for about 70% of all benchmark crude-oil trading
on the New York Mercantile Exchange, up from 37% in 2000, according to
congressional findings cited in a Wall Street Journal report.

Retail Stocks: Penney rises; Circuit City tumbles in mixed sector
trading

NEW YORK Retail shares were mixed Monday as J.C. Penney Co. got a boost
after an upgrade by Deutsche Bank. Circuit City Stores Inc. shares
dropped for a third straight session after it reported a wider loss last
week and said it was suspending dividend payments to conserve cash.

Republic Services to buy Allied Waste in $6 billion-plus deal

Republic Services will acquire Allied Waste Industries via a stock swap
valued at roughly $6 billion, a deal that would create a major
environmental-services provider.

Bunge to acquire Corn Products International for $4.8 billion

Bunge has agreed to pay $4.8 billion to buy Corn Products International
in a stock swap, as demand for food stokes dealmaking in the
agricultural sector.

Rio, BHP Billiton warn Chinese companies of record iron-ore price rises

HONG KONG Rio Tinto PLC (RTP) and BHP Billiton Ltd. (BHP) have asked
their Chinese steelmaker customers to accept the largest ever increase
in iron ore prices or risk the interruption of supplies from Australia,
the Financial Times reported on its Web site Monday, citing traders and
industry officials.