U.S. stocks surged Thursday after the Federal Reserve unveiled a long-awaited package of aggressive steps to spur economic growth.
After a week of fits and starts, the Dow Jones Industrial Average finally closed above 13,000 — 13,005.12, to be exact — for the first time since May 19, 2008.
Investors on Wall Street and around the world sold stocks with abandon Thursday, more convinced than ever that the United States and perhaps the globe are headed for a new recession.
Wall Street’s rocky ride has Detroit Mayor Dave Bing looking at his city’s long-term financial picture.
The Federal Reserve says it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought, with increasing risks.
The Dow plummeted more than 600 points in afternoon trading. Several Michigan stocks took a hit.
The sputtering economy is keeping mortgage rates low, with some fixed rates now hovering near four percent.
Wrapping up the worst week on Wall Street since 2008, WWJ’s Vickie Thomas caught up with a local financial planner.
The Dow Jones industrial average plunged more than 500 points Thursday.
Fiat is preparing to raise its ownership stake in Chrysler from its current 30% to 46%, spending 1.3 billion dollars in order to increase its interest in Chrysler.
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