Global Financial Markets: Investment Markets Services

Dow up more than 300 points on Obama comments on economy, hopes for automakers

Stocks surged Monday on signs that the automakers will be able to avoid bankruptcy and President-elect Barack Obama’s proposed stimulus plan.

The Dow Jones industrial average (INDU) jumped 311 points, or 3.6%, more than 90 minutes into the session. The Standard & Poor’s 500 (SPX) index added 3.6% and the Nasdaq composite (COMP) gained 3.2%.

Stocks surged Friday, erasing morning losses after a brutal November employment report, as investors extended the recent trend of buying despite bad news. [Read more →]

Tags: Economic news, Stock Exchange, U.S. Economy, U.S. stock market, financial news, stock markets by Financial Specialist
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The chemical maker said it expects to save $700 million a year as a result of the restructuring.

Dow Chemical Co. said Monday it will streamline its business by cutting about 5,000 jobs, closing plants and shedding assets.

In response to poor market conditions, Midland, Mich.-based Dow (DOW, Fortune 500) said it will eliminate about 11% of its global workforce. [Read more →]

Tags: Business, Economic news, U.S. Economy, financial markets, financial news, financial review by Financial Specialist
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TORONTO — The Toronto Stock Exchange’s main index was up 5% in early afternoon trade on Monday as oil and metals prices climbed and as optimism rose that global stimulus measures would avert a deeper slide in the economy.

Heavily weighted stocks that propelled the market higher included oil company EnCana Corp (T.ECA) up 8.7% at $55.26, and miner Barrick Gold (T.ABX) up 5.4% at $33.79.

Toronto stocks followed equities around the world higher with investors focusing on a possible rescue plan for U.S. automakers, a proposed U.S. jobs plan and more government stimulus measures to try to reverse the economic malaise. [Read more →]

Tags: Economic news, Market Data, Stock Exchange, financial markets, financial news, global stock markets, stock markets by Financial Specialist
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Oil, copper and corn rose after President-elect Barack Obama pledged the biggest U.S. public works program in about 50 years to revive the economy.

Commodities rebounded from last week’s losses on speculation spending on roads, bridges and repairing school buildings will boost raw material demand and engineer a recovery in the world’s largest economy. Mr. Obama said that his economic plan would create or preserve more than 2.5 million jobs. [Read more →]

Tags: Economic news, Economy, U.S. Economy, financial markets, financial news, financial planning, financial review by Financial Specialist
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