A bit of selling pressure sent major averages lower at the end of an otherwise upbeat week on Wall Street as Bank of America and General Electric’s numbers disappointed investors.  The Dow Jones industrial average, after closing above the 10,000 mark for two successive sessions, finished just below that level.  Despite the drop, stocks managed to post impressive gains on the week even as investors grew jittery about credit losses in the financial sector. 

Bank of America (NYSE:BAC) said it lost $2.2 billion during the quarter after it wrote down almost $10 billion in bad loans and General Electric’s (NYSE:GE) revenue numbers were below Street projections.  Higher loan losses aggravated investors’ concerns as Citigroup (NYSE:C) and JP Morgan (NYSE:JPM) had also reported higher loan losses during the quarter.  General Electric’s (NYSE:GE) results were impacted by lower earnings at its GE Capital unit.    

The 30-share Dow Jones industrial average fell

Although investors appeared hesitant and positioned themselves ahead of corporate earnings reports, the Dow Jones industrial average inched closer to the 10,000-level before some afternoon weariness saw indexes sinking sharply.  At the end of the session that was characterized by slow trading, the Dow managed to notch up some gains to remain in contention for the 10,000 mark – a level it last breached nearly a fortnight after Lehman’s fateful collapse in September 2008. 

The Dow Jones industrial average, which rose as high as 9931.82 points in the morning, gained 20 points to close at 9885.80.  The broad S&P 500 index rose 4.70 points, or 0.44%, to close at 1,076.19 and the tech-heavy Nasdaq ended the day little changed.  Bond markets were closed for the Columbus Day holiday.  On the New York Stock Exchange, 16 stocks were higher in price for every 14 that fell.

Eight of the ten

U.S. stocks dropped moderately, reversing earlier gains in the final hour of trading as concern grew that efforts to lift the economy out of stagnation will be withdrawn prematurely.  Stocks got some boost following the central bank’s widely-expected decision to hold interest rates steady but the rally faded soon after as traders found few surprising revelations in the Fed statement.

Although the Fed, in its policy statement, contended that it would continue to employ a wide range of tools to stimulate the economy, investors saw little reason to rejoice, wondering if the stocks were too expensive at current levels.  The Fed reiterated that it will slow its purchase of mortgage-backed securities, signaling its confidence that an economic recovery is indeed underway.  However, there was no talk of exit strategy methods and timetables.  Nevertheless, the FOMC minutes, released at 2:15 ET, maintained the Fed's intentions to keep "exceptionally low levels

Encouraging economic data and Federal Reserve Chairman Ben Bernanke’s view that the recession was “very likely over" sent stocks higher for a second straight day.  A better-than-expected rise in retail sales, helped in part by the government’s cash-for-clunkers program and higher gasoline prices, eased concerns that consumers were spending with restraint. 

Speaking at a Brookings Institution conference, Bernanke, however, added a note of caution, saying, “Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time."

This morning’s stock futures indicate Wall Street would open with gains, helped by increased M&A activity, optimistic guidance from companies, and words from Warren Buffett that Berkshire Hathaway (NYSE:BRK.A) is "buying stocks right as we speak."

Yesterday, the 30-stock Dow Jones industrial average gained 57 points, or 0.6%, to 9,683.41, its highest point since October 6. 

A sharp plunge in Shanghai Composite Index Monday sent Asian stocks sharply lower as nervous investors went on a selling spree, reflecting a growing unease that the six-month old rally has gone ahead of any economic recovery.

The Shanghai Composite Index, which had declined nearly 3% on Friday, plunged 6.7% to 2,697.  Hong Kong's Hang Seng retreated 1.9%. In Japan, the Nikkei 225 stock average, which was up 200 points earlier in the session, fell 41.61 points, or 0.4%, to 10,492.53.  In Yesterday’s landslide victory, the Democratic Party of Japan came to power ending an almost half-a-century rule by the Liberal Democratic Party.  The yen strengthened, helped by the election results.

This morning’s U.S. stock futures show Wall Street is headed for a lower opening.  Dow Jones industrial average futures fell 59, or 0.6%, to 9,477. Standard & Poor's 500 index futures fell 5.70, or 0.6%, to 1,021.70, while

Major average closed essentially flat Monday as cautious investors chose to halt last week’s buying spree and wait for next round of economic data.  Treasury prices advanced ahead of the next round of note auctions.  Oil prices rose to their highest level this year, sending shares of energy producers higher. Commodities advanced.  Markets were buoyant through the early afternoon but the rally faded in the afternoon.

The Dow Jones industrial average edged up 3.32 points, or 0.03%, to end at 9,509.28.  The Standard & Poor’s 500-stock index fell 0.56 points to end at 1,025.57, and the NASDAQ fell 2.92 points, or 0.14%, to 2,017.98.  On the New York Stock Exchange, winners narrowly edged losers on volume of 1.23 billion shares.

Shares of auto-related companies were under pressure as the government’s cash-for-clunkers program was set to end.  Financial stocks retreated 0.9% after an influential banking analyst noted that the current

A sharp rebound in Chinese shares helped erase yesterday’s slump and sent Asian stocks sharply higher Thursday, a day after Shanghai’s big fall ignited fears of a Chinese stock collapse and triggered a selling spree around the world.  Asian markets also drew comfort from an overnight recovery on Wall Street after a surprise drop in U.S. crude stockpiles lifted hopes for an economic recovery and sent investors back on the buying table.

Shanghai's main index jumped 126 points, or 4.5%, to 2,911.58, while Japan's Nikkei 225 stock average climbed 179.41 points, or 1.8%, to 10,383.41.  Hong Kong's Hang Seng rose 374.63, or 2%, to 20,336.36.  South Korea’s Kospi advanced 2% to 1,576.39.

Stock futures pointed to a higher open on Wall Street Thursday.  Dow Jones industrial average futures rose 24, or 0.3%, to 9,300. Standard & Poor's 500 index futures edged up 3.70, or 0.4%, to 1,000.80, while Nasdaq

U.S. stocks slumped for the first time in five sessions after a report showed U.S. employers cut more jobs than expected.  A government report showing factory orders grew less than expected also dragged shares lower.  Meanwhile, Fed Chairman Ben Bernanke cautioned that the government cannot borrow indefinitely to finance the shortfall and urged lawmakers to work towards reducing the fiscal deficit. The DJIA declined more than 65 points to 8675, and the S&P, while holding above a key technical level of 928, closed the day 1.4% down.  Technology focused NASDAQ was off 0.6%.  Trading continued to remain light with only 1.3 billion shares exchanging hands.  Market breadth was negative as declining stocks outpaced advancing issues by a seven-to-three margin. The US dollar gained versus other major currencies, closing up 1.1% against a basket of currencies.

Stock futures point to a higher opening on the Wall Street, amid ECB and

With U.S. employers cutting fewer jobs in April and banks' stress test results throwing up less-than-expected surprises, U.S. stocks advanced helping S&P 500 erase this year's losses and tech-heavy Nasdaq recorded its ninth straight weekly gain.  Reassuring signs emerging from the employment front indicated the economy is starting to find its footing as even a $75 billion deficit in capital failed to deter investors.  Stock buyers helped broad-based S&P 500 end the week 5.9% higher - the index is up 37% from a 12-year low hit on March 9. During the week, the Dow Jones Industrial Average added 362.24 points, or 4.4%, to 8,574.65. The Chicago Board Options Exchange Volatility Index, a measure of market volatility, declined 9.2% to 32.05. Volume on the NYSE was a heavy 1.9 billion as advancing issues outpacing declining stocks by a five-to-one margin. Among S&P sector groupings, financials were the leading gainers

Asian shares, outside of Japan, rose to a six-month high on Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst may be over for US banks, but plenty of concern remains about the condition of the global economy.

Whether a rally for Asian stocks outside of Japan -- up more than 30% from their low in 2009, set on March 4 -- can be sustained remains in doubt, with analysts saying that the full brunt of the global recession has yet to be reflected.

In Japan, the Nikkei 225 Stock Average fell 0.9%, to close at 8,842.68.  The Japanese market remained weak  after Sumitomo Realty & Development Co. missed its profit target and on concern that valuations at a seven-year high overstated earnings prospects.  A senior equity analyst wondered if the recent gain in Japanese shares is reasonable relative to earnings prospects for this year. 

Singapore devalued its