The markets were not friendly to bullish investors today as all three major indexes were down.  The NASDAQ and S&P were down 1.11% and 1.27% respectively, closing at 1796.18 and 911.97.  The Dow Jones Industrial Average was down 107.46 or 1.25% as it closed at 8504.67.  Gold saw prices rise as the dollar weakened settling at $932.20, while oil dropped as expected demand declined, settling at $70.47.  The 10-year saw prices rise as the yield dropped to 3.661%. 

Best Buy [BBY: 35.84, -2.82 (-7.29%)] reported earnings of $153 million, or $0.36 per share for the quarter which ended May 30.  This was down from the same period the year before, when they reported earnings of $0.43 per share or $179 million.  Revenue was up 12% to $10.1 billion for the Minneapolis-based retailer, this however missed the average analyst expectation of $10.4 billion, with the Best Buy also reporting that sales

The markets were down for most of the day, until a late rally sent two of the three major indexes positive, all except the NASDAQ which was down 0.19%.  The Dow Jones and S&P 500 were up 0.32% and 0.14% respectively, closing at 8799.26 and 946.21.  The 10-year saw prices climb once again, as the yield ended at 3.792%.  Oil was down today settling at $72.04, while gold also had an off day settling at $940.70.

Late Thursday night, Blackrock [BLK: 176.56, -6.04 (-3.31%)] agreed to buy Barclays Global Investors from Barclays Plc [BCS: 19.27, -0.63 (-3.17%)] for 37.8 million shares of common stock and equivalents and $6.6 billion in cash.  The deal was worth a total of $13.5B.  This deal will make Blackrock and BGI the world’s biggest fund manager, managing over $2.7 trillion in assets.  The buzz about a potential buy of BGI by

The markets were up today led by energy stocks as oil settled at $72.68.  The Dow Jones was up 0.37% closing at 8770.92, with the S&P up 0.61% closing at 944.89.  The NASDAQ was up 9.29 closing at 1862.37.  Treasury prices were down as the yield closed at 3.862%.  Gold settled at $962.00 as the dollar continues to weaken against other currencies. 

In major news today, Bank of America [BAC: 12.97, +0.99 (+8.26%)] CEO Ken Lewis appeared at the House Oversight and Government Reform Committee to talk about BofA’s acquisition of Merrill Lynch.  Lawmakers wanted to know from Lewis why a deal that was approved by shareholders in December with no government aid, wound up costing $20 billion dollars to taxpayers, for completion in January.  Lawmakers also questioned Lewis about knowing about losses at Merrill earlier then reported, as internal e-mails in the Fed suggested.  Some have speculated that Lewis

The markets were very volatile today, with a late rally sending the indexes near where they opened.  The Dow Jones was the only major index down, closing at 8763.06 down 0.02%.  The NASDAQ and S&P were both up closing at 1860.13 and 942.43 respectively, up 0.96% and 0.35%.  The 10-year saw prices fall as the yield ended at 3.862%.  Crude oil reached over $70 for the first time in seven months settling at $70.01, with August gold up on a declining US dollar, settling at $954.70. 

The big news of the day came from financials, as it was announced that the Treasury Department will allow ten financial institutions to repay TARP funds, which will allow the banks not to follow the government’s rules on executive compensation and dividends.  JP Morgan [JPM: 35.26, -0.13 (-0.37%)], Goldman Sachs [GS: 149.31, +0.96 (+0.65%)], Morgan Stanley [MS: 30.98, -0.41 (-1.31%)], American Express [

The markets were off today as the Dow Jones Industrial Average was the only major index to be in the black, up 0.15% to a level of 8,763.13.  The NASDAQ was down 0.03% closing at 1849.42 while the S&P 500 was down 0.25% ending at 940.09.  The 10-year once again saw price down ending with a yield of 3.83%.  A dollar gained strength today resulting with gold falling, settling at $962.60, and weaker demand saw crude prices fall to $68.44 a barrel. 

General Motors announced preliminary plans to sell its Saturn unit to Penske Automotive Group [PAG: 14.65, +0.05 (+0.34%)] which would put Penske in charge of Saturn’s parts, distribution, service, brands, and trademarks.  Mr. Roger Penske did not say how much the deal would be worth, but he said that the deal would allow for Saturn to retain 13,000 jobs in the corporation and the 350 dealerships.  The sale

The markets rebounded from yesterday’s lag in a rally led by financials and energy, as the Dow Jones was up 0.86% to close at 8750.24.  The NASDAQ was up 1.32%, closing at 1850.02, while the S&P 500 closed at 942.46, up 1.15% for the day.  The 10-year yield rose 3.076% as prices for the treasury fell.  Crude and gold both were up today settling at $68.81 and $982.30 respectively. 

Energy stocks were the main reason for a gain in the markets as Exxon [XOM: 72.98, +0.90 (+1.25%)], Chevron [CVX: 69.79, +1.53 (+2.24%)], and ConocoPhillips [COP: 45.97, +0.34 (+0.75%)] all saw significant run ups today.  One of the main reasons for the rally in energy was that an analyst from Goldman Sachs made a forecast that energy shortages are likely to return, driving futures to a seven month high.  The same analyst from Goldman

The markets were able to hold onto gains during a turbulent day, as the Dow closed at 8740.87. The NASDAQ was up 0.44% closing at 1836.80, with the S&P 500 up 0.20% closing at 944.74. The 10-year saw prices fall once again, closing with a yield of 3.609%. Crude was down settling at $68.55, while August gold headed in the opposite direction settling at $984.40 as the dollar continues to fall.

Ford [F: 6.41, +0.28 (+4.57%)] reported that sales fell 24% during May while GM [GM: 0.00, 0.00 (0.00%)], Toyota [TM: 80.99, -0.73 (-0.89%)], and Chrysler reported that sales fell 29%, 41%, and 47% decline respectively. Ford, which is the only major US car company not in bankruptcy, reported that it’s Ford, Lincoln, and Mercury brands captured the most market share since 2006. Ford has been able

The markets enjoyed a late rally to send the three major indexes up for the day, as the Dow Jones closed up 1.15%.  The NASDAQ and the S&P 500 were both up closing at 1774.33 and 919.14 respectively.  Prices on the 10 year treasury once again rose over a dollar as the yield declined to 3.465%.  Oil and gold were both up today,  with August gold settled at $980.30 and crude settled at $66.31. 

Tiffany & Company [TIF: 28.37, +0.24 (+0.85%)] reported a 62% decline in first quarter profit, as they announced earnings of $24.3 million, or $0.20 per share, declining from $64.4 million, or $0.50 per share the same period the year prior.  Tiffany saw sales decline 22% falling to $523.1 million, with sales dropping 21% in stores who have been open less than a year.  Sales would have fallen only 18% but the high end jewelry company was hurt by currency

The markets had a good day, with the NASDAQ up 1.20%.  The S&P was up 1.54% closing at 906.83, while the Dow Jones Industrial Average was up 1.25% finishing at 8403.80.  The 10-year saw prices rise over a dollar, as the yield fell to 3.620% on successful 6-month T-bill announcements and closings of attractive bid to cover ratios from the previous week.  Crude oil and August gold were both up, settling at $65.08 and $963.20 respectively.  Crude oil advanced on an inventory drawdown that was almost five times what was expected by analysts.

General Motors [GM: 1.12, -0.03 (-2.61%)] announced that they have reached a new debt-for-equity agreement with bondholders today that would give the debt holders 10% in equity of the new GM company and the ability to buy 15% more of the company’s equity.  It has been reported that a group representing 20% of the debt holders has

The markets started off the week with great momentum as the Dow Jones and S&P were up 2.37% and 2.63% respectively.  The NASDAQ was up 3.45% closing at 1750.43  led by Apple [AAPL: 130.78, +8.28 (+6.76%)], who was upgraded by Morgan Stanley to overweight.  The 10-year saw prices rise and the yield closed down at 3.547%.  Crude oil and gold headed in opposite directions, oil was up settling at $62.45, and gold down, settling at $953.30. 

In earnings news, Take-Two Interactive [TTWO: 8.83, -0.17 (-1.89%)] said that it loss $10.1 million, or $0.13 per share, failing to come close to the earnings they reported the same period the year prior when the reported a profit of $98.2 million, or $1.29 per share.  The company stated that if they had not included onetime charges and option related expenses, they would have only reported a loss of $2.9 million, or $0.04 per share.