News That Moved Thursday's Market

U.S. Markets

Dow +24.43 (+0.19%)
Nasdaq +16.31 (+0.67%)
S&P 500 +3.64 (+0.26%)

News That Moved the Market

Markets Eke Out Gains as Crude Falls. Markets traded in a tight range Thursday and ended with slight gains. After yesterday's sell-off, stocks were able to gain some ground with oil easing $2.43 to $130.74/barrel. Oil briefly traded higher than $135 in electronic trading, but $135 was a major resistance level to many speculators, and crude prices retreated quickly. Look for crude to trade in a range for the next couple days, until another major piece of news hits the tape.

Ford Falls. Shares of Ford (F, -8.2%) dropped after the company cut its outlook for car and truck sales for the year. The company will make fewer cars this year, responding to less demand for trucks and SUVs due to higher gas prices. Ford now hopes to break even in 2009.

Quick Tics: GameStop (GME, -3.9%) beat estimates, but investors were banking on an even better performance….UBS (UBS, +1.9%) plans to raise $15.5 billion by selling stock at a 31% discount.

Tomorrow

Notable Earnings (Full List Here):
Rediff.com India (REDF) Time Not Supplied

Economic Events:
10:00 AM: Existing Home Sales