Nasdaq to cancel some late trades in Google shares

REUTERS

NEW YORK (Reuters) - The Nasdaq Stock Market said it will cancel some of the late trades in Google Inc , whose shares appeared to plunge as low as 1 cent at the close of North American markets on Tuesday.

A spokeswoman for exchange parent Nasdaq OMX Group told Reuters in an email the "erroneous orders" that caused the abrupt plunge "were triggered by orders routed from another exchange."

She did not say which exchange routed the trade orders, but added the decision to cancel trades cannot be... Read more

Meme-It

Stocks surge higher; credit worries persist

ASSOCIATED PRESS

NEW YORK - Wall Street has ended sharply higher as investors bet that lawmakers will salvage a $700 billion rescue plan for the financial sector. The Dow Jones industrials surged nearly 500 points to the 10,860 level. The rally offset Monday's... Read more

Meme-It

Wall Street rallies on bailout revival hopes

REUTERS

NEW YORK (Reuters) - Wall Street roared back on Tuesday, a day after its worst sell-off in 21 years as investors bet Washington would revive a plan to stabilize the U.S. financial sector following... Read more

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S&P: Home prices post 16 pct annual drop in July

ASSOCIATED PRESS

NEW YORK - A closely watched index released Tuesday showed home prices tumbling by the sharpest annual rate ever in July, and though the monthly rate of decline is slowing, there is no turnaround... Read more

Meme-It

Fed's Lockhart: Credit crisis threatens economy

REUTERS

NEW ORLEANS (Reuters) - Stressed financial markets risk doing severe damage to the broader economy, Atlanta Federal Reserve President Dennis Lockhart said on Tuesday.The United States is... Read more

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Oil rises $6 on bailout optimism

REUTERS

NEW YORK (Reuters) - Oil rose $6 per barrel on Tuesday to over $102 as expectations U.S. lawmakers would pass a financial stability plan boosted global markets.Oil and other markets had tumbled on Monday after the U.S. House of Representatives... Read more

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Consumer confidence unexpectedly improves in Sept.

ASSOCIATED PRESS

NEW YORK - Americans' confidence in the economy unexpectedly improved in September, but the reading still hovered near a 16-year low and does not fully reflect the financial meltdown that has... Read more

Meme-It

Stocks stay higher on consumer confidence reading

ASSOCIATED PRESS

NEW YORK - Stocks continued a rebound following a private research group report that Americans' confidence in the economy has improved in September. The reading, which doesn't reflect attitudes... Read more

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Tech stocks lose safe harbor status, slip in 3Q

ASSOCIATED PRESS

SAN FRANCISCO - Technology stocks, which had been a safe harbor as the economy teetered in the first part of the year, shared the pain of other industries in the third quarter. Shares of the... Read more

Meme-It

ALL BUSINESS: Fair-value accounting rules a must

ASSOCIATED PRESS

By RACHEL BECK NEW YORK - How can lawmakers make the financial crisis disappear - without a $700 billion taxpayer bailout and all those pesky political ramifications? Suspend accounting rules... Read more

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Most Asian markets sink after bailout rejection

ASSOCIATED PRESS

TOKYO - Most Asian stock markets fell Tuesday in stunned dismay over U.S. lawmakers' rejection of a $700 billion bank rescue plan aimed at stabilizing the U.S. financial system. European markets... Read more

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Chicago Manufacturing Index Tops Expectations

CHICAGO TRIBUNE

By James P. Miller, Chicago Tribune Sep. 30--Chicago-area industrial and economic activity once again topped expectations in September, according to a closely watched trade group report issued... Read more

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How an economic depression works

MCCLATCHY-TRIBUNE

Recently you have probably heard an ominous sentence that goes something like this, "The United States may be on the verge of another Great Depression." You may have heard it more than once,... Read more