FINANCIAL NEWS - Stocks Rebound From Earlier Lows - Smart Money FINANCIAL NEWS - Stocks Rebound From Earlier Lows - Smart Money

Friday, January 23, 2009

FINANCIAL NEWS - Stocks Rebound From Earlier Lows - Smart Money

General Anxiety: GE posts 44% drop in Q4 net profit. Bouncing Back: Dow recovers from earlier losses. Tokyo, Meet Detroit: Toyota planning job cuts. I Want a New Drug: Pfizer in talks to buy Wyeth: WSJ. Earnings season has not been kind to the major in BUSINESS NEWS >

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NEW YORK (AP) - Wall Street adopted a "glass is half full" approach to earnings Friday, rebounding from a sharp early loss as investors decided to focus on some bright spots among otherwise weak corporate earnings reports. The broad market indexes in BUSINESS NEWS >

NEW YORK (AP) - Oil prices rose in another day of volatile trading Friday as investors parked money in commodities even as questions arose over how much OPEC will cut production. Light, sweet crude for March delivery rose more than 5 percent, or $2 in BUSINESS NEWS >

TOKYO, Jan 23 (Reuters) - Japan's Nikkei average slid 2.8 percent on Friday after a massive loss warning from Sony Corp ( 6758.T ) exacerbated concerns about corporate earnings and data showed further deterioration in the U.S. economy. Nippon Steel in BUSINESS NEWS >

Stocks bounced off their morning lows on Friday, with financial, energy and technical stocks leading the charge. The Dow Jones Industrial Average was recently down just 45 points at around 8078. It was supported by a 3% jump in shares of Intel in BUSINESS NEWS >

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