Countdown to the close: 59 min 59 sec

INVESTOR ALERT
Financial stocks pace sell-off

January 16 2009 12:04 A.M. EST

Bush bids farewell
Unbowed to the end, Bush uses his final speech as president to defend handling of economic problems, national security and the war in Iraq; says
terrorism remains gravest threat to U.S.
• Bush's final speech
 
ASIAN MARKETS
Stocks nudge higher
Techs help Japanese and regional markets begin to recover some of previous sessions' steep losses. Intel earnings report in U.S. boosts Asian techs.
• Hitachi loss to top $1.11 billion
 • Mizuho management changes
 • More Toyota cuts in North America
• Posco CEO stepping down
• For business news in Chinese, see Chinese.wsj.com .
New York air crash
 155 aboard jet rescued from river
US Airways jet taking off from LaGuardia airport for Charlotte, N.C., loses power in engines and pilot ditches into Hudson River near midtown Manhattan. Ferries, tourist boats and taxis rush to Airbus A320 pluck passengers off wings as plane sinks in frigid water.
• 'Miracle on the Hudson '  | Survivors
• Flock of geese may be cause
• Why birds are so dangerous to airplanes
• Pilot made right move (WSJ blog)
• Water landings rarely go well (WSJ.com)
 • Tales from survivors, witnesses (WSJ.com)
 
Latest News more » Top Stories more » Market Pulse more » Headlines more » Press Releases more »

  • 7:08 p.m.

    February crude-oil futures slip 22 cents to $35.18/barrel

  • 7:08 p.m.

    U.S. dollar buying 89.94 yen in Asian currency trading

  • 7:08 p.m.

    Australia's S&P/ASX 200 gains 1.2% to 3,570.40

  • 7:07 p.m.

    Japan's Topix up 1.6% to 808.59 in early minutes

  • 7:07 p.m.

    Japan's Nikkei rises 1.6% to 8,149.26 in early trading

  • 7:02 p.m.

    [TM] Toyota hopes to reduce inventory by half in Q2

  • 7:02 p.m.

    [TM] Toyota to reduce N. American production over next few months

  • 6:57 p.m.

    [BAC] B. of A. deal could have up to $120 bln backstop: WSJ

  • 6:56 p.m.

    [BAC] B. of A. near pact for up to $20 bln in new aid: WSJ

  • 5:43 p.m.

    [BAC] Bank of America moves up Q4 earnings release to Friday

  • 4:56 p.m.

    [LCC] FAA confirms all passengers from US Airways 1549 are safe

  • 4:54 p.m.

    Senate clears path for $350 billion bailout bill

  • 4:38 p.m.

    Yellen says Fed can "pull liquidity out" when crisis ends

  • 4:36 p.m.

    FOMC-voter Yellen says banking system may need more cash

  • 4:35 p.m.

    Fed's Yellen downplays inflation risk from Fed balance sheet

  • 4:34 p.m.

    SF Fed's Yellen sees weakness in commercial real estate

  • 4:31 p.m.

    [MFB] CORRECT: Maidenform to reduce corporate staff by 9%

  • 4:30 p.m.

    [DNA] Genentech late-shares down 0.7% to $84.50 in light volume

  • 4:28 p.m.

    [MFB] Maidenform sees 2008 EPS of $1.02 to $1.04

  • 4:25 p.m.

    [LCC] US Airways cooperating fully with emergency response efforts

 
Today inside MarketWatch
   IN COMMENTARY
SECOND OPINION
 What is Apple
without Steve?
It's likely iconic CEO will never return to
the company, according to John Dvorak.
• Poletti asks, is Jobs in denial? (First Take)
• Apple's public face

Also in Commentary:
 • Poletti says Bill Watkins will be missed
• Weidner on Madoff: Where was the SEC?
• Nutting on all the bad things about Bush

  IN NEWSLETTERS
Peter BRIMELOW
 Stocks' slide doesn't spook Slothower
Here's why he's remarkably calm in the face of Wall Street's six-session skid.

Also in Newsletters:
• Hulbert on January Effect's arrival

  IN PERSONAL FINANCE
realty q&a
 Under water? No reason to walk away

There are alternatives when you owe more on your home than it's worth.

Also in Personal Finance:
 • Powell says face the facts
• Openshaw sees wolf in sheep's clothing
• Cheaper stocks benefit young savers
• Re-examined finances — to what end?

  IN TAX GUIDE 2009
TAXWATCH
Scam season
upon us again
Beware of those email come-ons promising you can get huge refunds or save big bucks on taxes. They're almost always frauds.

Also in Tax Guide :
 • January to-do list
• IRS says it's easing some rules
 • More tax news, tools and tips

  IN MULTIMEDIA
bailout
 TARP'S
future
Rep. Brad Sherman (above, at right) talks
to MarketWatch's Ron Orol about his problems with the $700 billion bailout.

Also in Multimedia :
• Right property for wrong time
• 14 female Fortune 500 CEOs

Airlines, unions rise to call for change
Carriers and labor groups hope for new era in troubled industry. Unions hope for more leverage, end to continuous negotiations.
Part of a weekly series on what's ahead for key sectors of the economy.
MORE FROM WASHINGTON
• Darrell Delamaide: 'Czar' penchant says something about Obama
 • President-elect agrees to home-loan relief as part of bailout bill

economic stimulus
Senate clears path for $350 billion bailout bill
Votes down measure to bar release of second half of bailout money after House approves conditions on the funds.
• Yellen throws weight behind package, citing 'extraordinary' crisis
• Time to impose conditions on bailouts (First Take)
• Interest building in infrastructure stocks | Billions in tax perks

Video games
 Sales beat December targets
 Slumping economy has no obvious effect on buyers as Nintendo devices power sales gains.

U.S. EARNINGS
 Intel profit plunges
Chipmaker blames 90% drop on what CEO says was dramatic decline in fourth quarter sales.
• Genentech earnings jump 47%

financials | Sector report
Dimon in the rough
The news coming out of J.P. Morgan Chase is not good, but don't blame the bank (First Take).
 • J.P. Morgan's profit dives — but it's on mark
 • Jamie Dimon's bumpy ride (Minyanville)
• B. of A. to get billions more in bailout
 • Cozy under TARP (Minyanville) | Shapiro's agenda (First Take)
 • SEC nominee suggests regulatory changes  

U.S. markets
Late rally snaps 6-session losing streak
Comeback pushes Dow to close 12 points higher, ending longest skid since Lehman collapse in October.
• After hours: Intel rises | Stocks to watch | Friday preview Audio
• Volatility back with a vengeance | Bond market indicates deflation
 • Jobless claims back over half-million | N.Y. factories contract more
• Wholesale prices slip for fifth straight month
 • Credit crunch costs factories: Philly Fed  

mortgage rates  
30-year mortgage below 5%
With 11th straight weekly decline, the average long-term fixed-rate loan's interest rate moves below 5% threshold for first time on record.
• 3.16 million foreclosure filings in 2008

yahoo
 Shares backpedal on search talk
Shares slide nearly 7% following reports that company's new CEO may not be sold on deal to hand over online search unit to Microsoft.
• Bartz signs four-year deal with annual salary of $1 million

ETHICS MONITOR
 Madoff first among the worst
 Thomas Kostigen pretty much agrees with a magazine's list, topped by Bernard Madoff, of the 10 
most unethical people in business.

NEWSROOM ROSTER | CORRECTIONS | CODE OF CONDUCT | FEEDBACK

U.S. Europe Asia Currency/Rates More Markets»
Dow
8,212 12.35
Nasdaq
1,512 22.20
S&P 500
844 1.12
Global Dow
1,416 10.93
Oil
$35.38 -0.02
Gold
$807.30 -1.50
London
4,121 -59.53
Paris
2,996 -56.12
Frankfurt
4,337 -85.62
Global DowEU
1,008 -4.43
Tokyo
8,169 145.92
Hong Kong
13,273 29.61
Sydney
3,495 18.40
Global Dow
1,416 10.93
10yr Treas
2.21% 0.00
Euro / $1US
1.32 0.0082
$1US / Yen
90.36 0.4900
Pound / $1US
1.48 0.0125
Recent Quotes Portfolio

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Symbol

Price

Change

% Change

LCC

7.55

0.16

2.17

TM

63.92

1.78

2.86

MFB

9.44

0.39

4.31

INTC

13.29

0.21

1.61

DNA

85.08

-0.49

-0.57

BAC

8.32

-1.88

-18.43

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