Friday, August 8, 2008

Stocks jump as oil prices fall sharply

The New York Times and The Wall Street Jounal are displayed at a newsstand on Monday, July 28, 2008 in New York.  News Corp. says fiscal fourth-quarter earnings jumped 27 percent, Tuesday, Aug. 6, 2008, on profit from the sale of assets and higher operating earnings in its film, cable networks and newspaper units. (AP Photo/Mark Lennihan)
AP - 3 minutes ago

NEW YORK - Stocks rebounded Friday from a sell-off a day earlier as a sharp drop in oil prices eased worries over a quarterly loss from mortgage finance company Fannie Mae that was more than triple what Wall Street expected. The Dow Jones industrials rose about 175 points.

No comments: