Countdown to the close: 59 min 59 sec

INVESTOR ALERT
'Bad bank' idea inspires Street

February 3 2009 2:27 P.M. EST

Bulletin	Dow industrials up 100 points; Merck paces gains, up 6%

Daschle dashes for the exit

Tax-troubled Tom Daschle withdraws his name from consideration as Obama's choice to head the Department of Health and Human Services. News comes on the same day the pick for chief White House performance officer withdrew her name, also citing tax mistakes.

market snapshot | Health care pulls stocks higher
Will car sales set market bottom?
The fact that auto sales — though dismal — seem to be stabilizing could be positive for an equities markets looking for signs of a floor.
• MarketWatch Hot Stocks: Energy
• S&P 500's stuck under October 2008 low, writes Michael Ashbaugh
• We're comfortably numb, says Chuck Carlson Audio
• Warren Buffett bites the HOG (Blogging Stocks)

auto sales
Ford, GM sales crash into wall
Ford sales tumble 40% in January on big drop in rental-car buying.
• GM reports 48.9% slide in U.S. sales | Honda sales fall sharply
• Porsche sales skid 36% | Daimler sales slide 35.5% | Toyota

Trading Strategies: February 2009

Searching for the bottom
Wondering when the market will reach bottom? Join the club. Our 12 experts offer their views on finding the low point and putting your investments on track to profit.

FEBRUARY HIGHLIGHTS | The full report

• Kahn waits for bull
• Karabell takes dip
• Feb. aggression
• Safety overseas

• Ride China's rails
• Commodity time?
• Seasons' reasons
• Avoid extremes

Latest News more » Top Stories more » Market Pulse more » Headlines more » Press Releases more »

2:23 p.m.

Audi U.S. sales fall 26.4% to 4,722 vehicles in January
2:22 p.m.

U.S. stocks add to gains as Dow crosses 8,000
2:22 p.m.

Emerson posts 19% lower profit, trims 2009 outlook
2:13 p.m.

[INDU] Dow Jones Industrial Average up 103 points at 8,039.57
2:10 p.m.

Risk regulator on agenda for House legislation
2:08 p.m.

[video] MarketWatch Hot Stocks Report: Energy
2:07 p.m.

Suspect arrested over powder-filled mail threats to banks
2:01 p.m.

Honda U.S. January sales fall 27.9% to 71,031 vehicles
1:59 p.m.

Dow Chemical posts sizable loss, sees weak demand persisting
1:56 p.m.

[HMC] Honda U.S. January sales fall 27.9% to 71,031 vehicles
1:56 p.m.

GM U.S. sales fall 48.9% to 128,198 units in January
1:55 p.m.

Gold falls as traders take profit from recent highs
1:55 p.m.

Tom Daschle withdraws from Cabinet nomination
1:54 p.m.

Moody's downgrades Motorola on mobile phone losses
1:54 p.m.

Metals Stocks: Gold falls for second day to below $900 on profit-taking
1:53 p.m.

Feb. gold ends down $14.70, or 1.6%, at $892 an ounce
1:50 p.m.

[GM] GM forecasts Q1 N. America production of 380,000 vehicles
1:50 p.m.

Movers & Shakers: Tuesday's biggest gaining and declining stocks
1:48 p.m.

[MOT] Moody's downgrades Motorola to 'Baa3' from 'Baa2'
1:46 p.m.

[GM] GM U.S. sales fall 48.9% to 128,198 units in January

2:22 p.m.

Emerson posts 19% lower profit, trims 2009 outlook
2:10 p.m.

Risk regulator on agenda for House legislation
2:07 p.m.

Suspect arrested over powder-filled mail threats to banks
1:59 p.m.

Dow Chemical posts sizable loss, sees weak demand persisting
1:55 p.m.

Tom Daschle withdraws from Cabinet nomination
1:54 p.m.

Metals Stocks: Gold falls for second day to below $900 on profit-taking
1:50 p.m.

Movers & Shakers: Tuesday's biggest gaining and declining stocks
1:46 p.m.

Lack of rental car sales hit Ford in January
1:41 p.m.

Energy Stocks: Energy-sector benchmarks make gains; BP, Marathon in focus
1:39 p.m.

US Stocks Higher On Strong Health Care, Though Banks Fall
1:34 p.m.

Amazon Kindle a big seller in 2008, analysts say
1:29 p.m.

Tech Stocks: Cisco rises as techs move between green and red
1:25 p.m.

Dow Chemical warns against a forced Rohm & Haas merger
1:22 p.m.

Citigroup unveils $36.5 billion in TARP lending
1:11 p.m.

Senators line up to amend massive stimulus bill
1:02 p.m.

Bank of England lends out $262 billion under liquidity program
12:59 p.m.

Market Snapshot: U.S. car sales could signal start of a bottom for investors
12:53 p.m.

Emerging Markets Report: Russia's economic growth slows; ruble weakens
12:42 p.m.

D.R. Horton's loss narrows on fewer write-offs; stock rises
12:41 p.m.

Futures Movers: Oil rises to $41 a barrel, with supply buildup foreseen

2:23 p.m.

Audi U.S. sales fall 26.4% to 4,722 vehicles in January
2:22 p.m.

U.S. stocks add to gains as Dow crosses 8,000
2:01 p.m.

Honda U.S. January sales fall 27.9% to 71,031 vehicles
1:56 p.m.

GM U.S. sales fall 48.9% to 128,198 units in January
1:55 p.m.

Gold falls as traders take profit from recent highs
1:54 p.m.

Moody's downgrades Motorola on mobile phone losses
1:19 p.m.

Toyota U.S. January sales down 31.7%
1:02 p.m.

CORRECT: Ford posts 40.2% drop in January U.S. sales
12:55 p.m.

Tom Daschle withdraws HHS secretary nomination
12:45 p.m.

CNBC says business news chief Jonathan Wald leaving post
12:42 p.m.

Treasury invests additional $1.2 bln in 42 more banks
12:33 p.m.

Creation of risk regulator for financial markets proposed
12:22 p.m.

Fannie Mae prices $7 bln 5-year notes; yield 2.767%
12:16 p.m.

Porsche U.S. January sales fall 36%
12:15 p.m.

Daimler U.S. sales slide 35.5% to 12,209 vehicles in January
12:08 p.m.

Rohm & Haas: Convinced Dow has ability to close deal
12:03 p.m.

Volkswagen U.S. January sales fall 11.6%
11:56 a.m.

Moody's downgrades Illinois Tool Works on margin drop
11:19 a.m.

Stocks shift to positive turf; some companies top forecasts
11:02 a.m.

Obama nominates GOP Sen. Gregg as Commerce secretary

2:13 p.m.

[INDU] Dow Jones Industrial Average up 103 points at 8,039.57
1:56 p.m.

[HMC] Honda U.S. January sales fall 27.9% to 71,031 vehicles
1:53 p.m.

Feb. gold ends down $14.70, or 1.6%, at $892 an ounce
1:50 p.m.

[GM] GM forecasts Q1 N. America production of 380,000 vehicles
1:48 p.m.

[MOT] Moody's downgrades Motorola to 'Baa3' from 'Baa2'
1:46 p.m.

[GM] GM U.S. sales fall 48.9% to 128,198 units in January
1:12 p.m.

[TM] CORRECT: Toyota U.S. January sales down 31.7%
12:49 p.m.

Daschle withdraws name as HHS secretary pick: report
12:37 p.m.

[GE] CNBC says business news chief Jonathan Wald leaving post
11:50 a.m.

[ROH] Rohm & Haas: Dow should reduce dependence on bridge loan
11:49 a.m.

[ROH] Rohm & Haas: Dow should honor obligation and close deal
11:48 a.m.

[ROH] Rohm & Haas: Convinced Dow has ability to close deal
11:46 a.m.

[ITW] Moody's downgrades Illinois Tool Works to 'A1' from 'Aa3'
11:01 a.m.

Obama picks GOP Sen. Judd Gregg as Commerce secretary
10:37 a.m.

[PNC] PNC shares fall 15%, credit woes grow
10:37 a.m.

[MI] Marshall & Ilsley falls 18% after Goldman cuts price target
10:25 a.m.

[DOW] Dow Chemical filed lawsuits against several Kuwaiti parties
10:23 a.m.

[DOW] Dow Chemcial seeks $2.5 bln from disposed Kuwaiti-JV deal
10:20 a.m.

White House performance officer withdraws candidacy
10:05 a.m.

U.S. homeownership rate lowest since 2001

Today inside MarketWatch

IN COMMENTARY

WRITING ON THE WALL
He's done
with Davos

The economic summit is a waste of time and money, writes David Weidner.
• Weidner on Davos: So what?

Also in Commentary:
• Marsh's plan to draw U.S. tourists to U.K.
• Beauchemin on greening of Abu Dhabi

IN NEWSLETTERS

mark Hulbert
Did Dow Theory
send sell signal?

At least one adherent reduced his stock exposure Monday. Here's why.

Also in Newsletters:
• Brimelow spots a case of depression

IN PERSONAL FINANCE

Paul b. Farrell
'Bad bank' more weird than movie, TV plots

Wall Street "Terminators" are trading "cash for trash" on the "Lost" island.

Also in Personal Finance:
• Openshaw: Cut your grocery bill now
• Keep the focus on bank customers
• Burton on winning bond portfolios
• How to build a bond portfolio with ETFs
• Take a spin at the ETF 'casino'
• Five ways to fix a 401(k) (WSJ.com)
• Money-market funds endangered?

IN TAX GUIDE

TAX TIPS
How the early bird catches the refund

Use these seven tips for your 2008 return to take full advantage of new legislation.

Also in Tax Time:
• Why 1099s are tardy in 2009
• Young retirees and quarterly taxes
• Full coverage of tax issues

technology AND TELECOM
Wind in Vodafone's sales
Exchange-rate movements and M&A bolster bottom line. Wireless giant lifts sales target.
• Beneficiaries of sterling's plunge (First Take)
• Why Verizon's stock could rally

Motorola's tough call
Mobile-phone bellwether suspends dividend and projects further losses on the heels of $3.6 billion loss in 2008's closing quarter.
• SanDisk, memory chips buffeted by headwinds
• Google maps heavens above, water below | Hitachi's bleak year

IRWIN KELLNER
Washington just doesn't get it
This recession demands innovative responses, but politicians are clinging to the same old tactics.

• Debate underway in Senate | Lobbyists up stimulus cost (WSJ.com)
• No limit to limitations on executive compensation (24/7 Wall St.)

tECH TALES
Gorgeous isn't everything?
H-P's new netbook, which weighs next to nothing, seems likely to appeal to women, writes Therese Poletti.

FINANCIALS
Citi rolls out TARP funds
Bank giant says it's rolled bulk of bailout billions into loans.
• Citi considers pulling out of Mets Stadium deal
• PNC posts loss tied to National City deal
• UBS broker talks | Flattery? (First Take) | Morgan mulling cuts

HEALTH AND MEDICINE
Merck's back in black
Vioxx ills are put in past as pharmaceutical giant turns a profit.
• Schering-Plough returns to profitability in fourth quarter

MEDIA
Disney leads big-media parade
Eyes peeled for results from the biggest media companies this week, with Disney to be followed by Time Warner and News Corp.
• Do you believe in IAC? That is, do you trust Barry Diller? (First Take)

ENERGY
BP's $3.3 billion loss
Oil major swings deeply into the red ink for the fourth quarter as the precipitous fall in crude prices hits inventories it hasn't yet sold.
• BP says its dividend is safe for now (WSJ.com)
• New nuke-test rumors swirl over Pyongyang

Tobacco
Not up in smoke
Imperial Tobacco says its overall performance and financial position remains in line with expectations.
• Philip Morris and Swedish Match to form joint venture

global economics
Australia rate cut lifts indexes
Investors in Sydney cheer government's $26.5 billion stimulus package, cut in key rates.
• Euro-zone PPI data falls 1.3% in December
• Hungary's forint moves to record low vs. euro

NEWSROOM ROSTER | CORRECTIONS | CODE OF CONDUCT | FEEDBACK

Tools and Research More »

U.S. Europe Asia Currency/Rates More Markets»

Dow

8,047 109.99

Nasdaq

1,506 11.97

S&P 500

835 9.72

Global Dow

1,388 29.82

Oil

$40.41 0.33

Gold

$892.50 -14.70

London

4,164 86.68

Paris

2,982 52.34

Frankfurt

4,375 103.92

Global DowEU

1,005 5.81

Tokyo

7,826 -48.47

Hong Kong

12,777 -84.60

Sydney

3,449 5.60

Global Dow

1,388 29.82

10yr Treas

2.81% 0.09

Euro / $1US

1.30 0.0196

$1US / Yen

89.17 -0.2500

Pound / $1US

1.44 0.0186

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