Entries in Dow Jones Industrial Index (2)


Wall Street Suffers Drop

Hemera/Thinkstock(NEW YORK) -- Stocks were down Thursday, with the Dow having one of its worst days in weeks.  The Dow closed down 251 points, while the Nasdaq lost 71 and the S&P plunged 31 points.

Worries about the economy here and in Europe are to blame, as well as a bleak manufacturing report for May.

A realtor's trade group says sales of previously-owned homes fell one and a half percent in May. Sales are up nearly 10 percent from a year ago, but economists say they're well below what we'd see in a healthy market.

This is a good time to buy a home if you can acquire a mortgage. Freddie Mac says 30-year fixed loans are down to an all-time low average of 3.66 percent.  Fifteen-year adjustable rate mortgages average about 2.95 percent, which is almost rock bottom.

Copyright 2012 ABC News Radio


Stock Market Recovers Losses for the Year

H-Gall/Getty Images(NEW YORK) -- Stocks are set to recover back to even for the year on Wednesday, just a week after Europe’s debt crisis sent U.S. markets down nearly 9 percent.

The Dow Jones Industrial Average climbed 163 points, or 1.4 percent, to 11,579 at 1:55 p.m. The Standard & Poor’s 500 increased 1.7 percent to 1,216. Stocks have posted solid gains since touching bottom Oct. 3., rallying more than 1,000 points on the Dow.

Adding to the optimism, the European Union released a blueprint today of how it will recapitalize banks to stem the region’s debt crisis.

In addition, a Slovakian opposition party leader said that country’s political parties have agreed to approve a deal to strengthen Europe’s financial rescue program. Slovakia’s parliament blocked the deal Tuesday, setting back efforts to free up more funds for indebted European countries and banks. All 16 of the other countries that use the euro have approved the measure.

Copyright 2011 ABC News Radio

ABC News Radio