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Wall Street finishes erratic day higher
- Wall Street scored a moderate gain after a volatile session Wednesday that saw the major indexes ratchet up and down on the seesawing price of oil and mixed feelings about the financial sector.Concerns about mortgage financiers Fannie Mae and Freddie Mac initially dragged down financials. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity. Fannie Mae shares tumbled nearly 27 percent, while Freddie Mac shares lost 22 percent.
Wall Street stumbles through erratic session
- Wall Street stumbled through an uneven session Wednesday, ratcheting up and down as the price of oil also seesawed and worries persisted about the financial sector.Concerns about mortgage financiers Fannie Mae and Freddie Mac again dragged on the financial sector. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity.
Stocks rise as oil prices decline
- Stocks turned higher Wednesday as oil prices fell and financials pared their losses, allowing investors to focus on an upbeat profit report from Hewlett-Packard Co.Worries about the well-being of mortgage financiers Fannie Mae and Freddie Mac again dragged on the financial sector. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity.
Stocks fluctuate over financials, rising oil
- Stocks fluctuated Wednesday as investors contended with renewed concerns about the financial sector and a rise in oil prices but found some solace in an upbeat profit report from Hewlett-Packard Co.Worries about the well-being of mortgage financiers Fannie Mae and Freddie Mac again dragged on the financial sector. Wall Street is nervous that the government-chartered companies will need an injection of cash from the Treasury Department, a move that could wipe out shareholders' equity.
Stocks fall on worries over financials, rising oil
- Stocks fell for a third straight session Wednesday after worries about the financial sector and a rise in oil prices offset investors' enthusiasm over an upbeat profit report from Hewlett-Packard Co.Concerns about the well-being of mortgage financiers Fannie Mae and Freddie Mac again dragged on the financial sector and the broader market. Wall Street is worried that the government-chartered companies will require a bailout, a move that could wipe out shareholders' equity.