STAFF BLOG THE N.D. CAPITOL AND BEYOND Pomeroy votes yes on Wall Street bill
The House has passed the Wall Street bill. What do you think of the bill?
A statement from Rep. Earl Pomeroy, D-N.D.:
“Tonight’s vote is a big step forward for the American people. For yea... Posted on 6/30/10 at 1:33 PM
Five and a half years after the start of a frightening drop, the Dow Jones industrial average has regained all the losses suffered during the Great Recession and reached a new high. The blue-chip index rose 125.95 points Tuesday and closed at 14,253.77.
Stocks climbed on Wall Street Tuesday, pushing the Standard and Poor's 500 to its highest level in two months, amid optimism that lawmakers are closing in on a budget deal that will stop the U.S. from going over the "fiscal cliff" at the beginning of next year.
Already expected to be the largest-ever initial public offering for an Internet company, Facebook is making its IPO even bigger. The world's largest online social network on Tuesday increased the planned price range for its stock to $34 to $38 per share in a filing with the Securities and Exchange Commission. That's up from its previous range of $28 to $35. At the upper limit of $38, the sale would raise about $12.8 billion.
The stock market just had its best first quarter in 14 years. The surge has sent Wall Street analysts, some of whose forecasts seemed too sunny three months ago, scrambling to raise their estimates for the year.
The Dow Jones industrial average rose 66.22 points to close at 13,212.04. The Standard & Poor's 500 index rose 5.19 points to close at 1,408.47. The Nasdaq composite barely moved, falling 3.79 points to close at 3,091.57.
Falling commodity prices punished materials and energy companies Wednesday, pushing Wall Street's major stock indexes to a lower close. Crude oil lost nearly $2 to $105 a barrel, hurting energy stocks. Peabody Energy fell 3.4 percent, Chevron 1.1 percent and Exxon 0.9 percent.
The Dow Jones industrial average closed down 4 points, or 0. percent, at 13,12 on Wednesday. The Standard & Poor's 500 index closed down 3, or 0.2 percent, at 1,403. The Nasdaq composite average closed up 1 at 3,075.
Chanting and cheering down Wall Street on Saturday to mark six months since the birth of the Occupy movement, some protesters applauded the Goldman Sachs employee who days ago gave the firm a public drubbing, echoing the movement's indictment of a financial system demonstrators say is fueled by reckless greed.
It was a mundane end to an electrifying week on the stock market. Stock indexes wavered indecisively between small gains and losses Friday before closing mixed. Earlier in the week, the Standard & Poor's 500 and the Nasdaq composite index were on a tear, hitting levels that hadn't been reached in years.
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