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Thursday, October 30, 2008

CNBC.com News Now: Ackman Plays

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CNBC.com News Now
DOW 9180.69 189.73 +2.11%
NASDAQ 1698.52 41.31 +2.49%
S&P 954.09 24.00 +2.58%
  Thursday, Oct. 30, 2008
 
CNBC TASK FORCE
 

  CNBC TASK FORCE Bob Pisani, CNBC "On-Air Stocks" Editor
The Dow has traded in a "tight" 290-point range today. Sound familiar? Well, that's what happened yesterday, too… until the last hour of trading when the markets' volatility reappeared, especially in the last few minutes of the trading day.

Just before midday, the markets hit the lows of the day, but since then, they have gradually climbed back up and are now re-approaching the morning's highs. The advance has been fairly broad-based as advancers are leading decliners 4 to 1 at the NYSE. Utilities, energy, and tech stocks have regained the momentum that they lost this morning and are leading the markets' move up this afternoon.

What have been volatile today are the commodities and commodity stocks. Commodities, which started the day modestly higher, turned south as the dollar strengthened throughout the morning. At their settlement today, metals we were weak as copper finished down 9%, aluminum ended down 4%, and gold finished down 2%...read more

 
 
WHAT YOU SHOULD KNOW
 
  Three Reasons Why Stocks Have Become So Volatile
Bear markets are noted for their volatility—but more than 300 points in six minutes? It's not as crazy as it sounds. Some analysts see several important factors contributing to the type of moves that the market witnessed at the close of trading on Wednesday, when the Dow Jones Industrials plummeted from a 250-point gain to a 72-point loss before most people had even realized what happened...read more
 

  Risk Appetite Coming Back
Asian share markets rallied and the euro surged on Thursday on initial signs that investors are rediscovering an appetite for risk in response to global efforts to prevent the financial crisis from leading to a deep recession. Hours after the Federal Reserve met market expectations by slashing its main policy rate to 1 percent, Taiwan and Hong Kong took up the rate-cutting baton and speculation persisted that Japan would follow suit on Friday...read more
 

  Dow Jumps Nearly 200 in Another Photo Finish
U.S. stocks had another wild swing in the final 15 minutes of trading that pumped up the Dow from a gain of about 50 points to nearly 200 points as traders shrugged off this morning's GDP report that showed the economy is shrinking....read more
 

TONIGHT 7P ET    WALL ST. CRISIS - Is Your Money Safe?


  TODAY'S TOP 5 VIDEOS  
  1. BP Capital Loses $2B in Oil
BP Capital has recently moved its assets to cash and discussing his plan for energy with Boone Pickens, BP Capital CEO
 

  2. Ackman Plays
Insight on his plan for Target and other investments, with William Ackman, Pershing Square Capital Management managing partner and Larry Lindsey, The Lindsey Group CEO
 

  3.Black and Blue Gold
Tumbling oil prices take its toll on BP Capital, with Boone Pickens, BP Capital CEO and Larry Lindsey, The Lindsey Group CEO
 

  4.Slim On the Sidelines
Talking with one of the two richest men in the world, with billionaire Carlos Slim and CNBC's Michelle Caruso-Cabrera.
 

  5. Stop Trading, Listen to Cramer!
Mad Money's Jim Cramer shares his stock picks and pans with CNBC's Erin Burnett.
 

  Click here to view all of today's top videos on CNBC.com
 

  CNBC.com BLOG OF THE DAY  
  BLOG OF THE DAY The Beatles Go Digital—Finally!
Today will mark an auspicious day for the music business, and maybe the first big hint that the Beatles may finally be on the way to Apple's iTunes....read more

See All CNBC.com Blogs
 

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