Stocks Little Changed After Snapback Rally
By Tim Paradis
AP Business Writer
October 1, 2008
CBNNews.com - NEW YORK - Wall Street has zigzagged through a relatively calm session, closing with modest losses as financial markets uneasily awaited a Senate vote on the government's banking sector bailout.
The credit markets, meanwhile, were still under strain pending the vote expected Wednesday night. Several big companies are reporting that they're feeling the impact of reduced lending.
Disappointing economic news, including a report of further weakening in the manufacturing sector, also weighed on stock trading.
The Dow Jones industrials, down more than 200 points in early trading, recovered to a loss of about 19 points at the 10,831 level. The Nasdaq composite index fell more steeply, losing 1 percent.
Copyright 2008 by The Associated Press. All Rights Reserved.
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