(Bloomberg) -- U.S. stocks pared a rally after the
replacement of Bear Stearns Cos.' asset management chief
reinforced concern that losses in mortgage-backed bonds will
hurt bank and brokerage earnings.
The Standard & Poor's 500 Index rose 1.54, or 0.1 percent,
to 1507.25 as of 12:47 p.m. in New York after earlier rising as
much as 0.8 percent. The Dow Jones Industrial Average added
14.88 to 13,437.16, while the Nasdaq Composite Index increased
2.51, or 0.1 percent, to 2610.88.
Read more at Bloomberg Stocks News
replacement of Bear Stearns Cos.' asset management chief
reinforced concern that losses in mortgage-backed bonds will
hurt bank and brokerage earnings.
The Standard & Poor's 500 Index rose 1.54, or 0.1 percent,
to 1507.25 as of 12:47 p.m. in New York after earlier rising as
much as 0.8 percent. The Dow Jones Industrial Average added
14.88 to 13,437.16, while the Nasdaq Composite Index increased
2.51, or 0.1 percent, to 2610.88.
Read more at Bloomberg Stocks News
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