Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Wall Street Closing
Published in Saudi Press Agency on 23 - 04 - 2009

Stocks fell sharply in the last half-hour of trading Wednesday, ending a volatile session mixed. Markets have been volatile this week following a six-week advance that sent the Standard & Poor's 500 stocks 29 percent higher after they fell to 12-year lows.
Stocks rallied late Tuesday after U.S. Treasury Secretary Timothy Geithner defended his department's Troubled Asset Relief Program (TARP) and other efforts to stabilize the financial system. Speaking Wednesday, Geithner noted the need for global cooperation amid the unprecedented economic crisis. His comments came ahead of a meeting of world finance ministers later this week.
Light sweet crude oil for June delivery rose 30 cents to $48.85 a barrel on the New York Mercantile Exchange. Growing U.S. petroleum supplies had caused oil prices to fall earlier in the session. The U.S. dollar fell versus the euro and the yen.
Morgan Stanley reported weaker quarterly sales and profits that missed estimates, and it cut its dividend 81 percent. Its shares fell 9 percent. Morgan Stanley was the first of the big banks to miss forecasts, after Citigroup, J.P. Morgan Chase, and Goldman Sachs all reported better-than-expected profits.
The Dow Jones industrial average fell 82.99, or 1 percent, to 7,888.57. McDonald's reported lower quarterly profit that beat estimates, and shares of the fast-food giant fell 2.5 percent. General Motors (GM) said it will reduce debt through a debt-for-stock offering, and its shares were little changed, erasing earlier losses.
AT&T reported a smaller-than-expected decline in quarterly profit that beat estimates, and shares of the telecommunications firm rose 2 percent. Boeing Company reported lower quarterly profit that beat estimates, and shares of the aerospace giant fell 2.5 percent. Caterpillar shares gained more than 3 percent after a brokerage lifted its rating on the heavy equipment maker's stock.
The broader S&P 500 index fell 6.53, or 0.8 percent, to 843.55. The technology-heavy Nasdaq composite index rose 2.27, or 0.1 percent, to 1,646.12. Yahoo reported lower quarterly sales and profits that beat estimates, and the internet company announced it would cut 5 percent of its workforce, sending its shares up 10 percent. Other big technology shares also rallied, including Applied Materials, Intel, and eBay.
The New York Stock Exchange composite index fell 48.98 to 5,290.61. The American Stock Exchange composite index fell 14.55 to 1,361.64. And the Russell 2000 index rose 0.65 to 470.71.


Clic here to read the story from its source.