WASHINGTON (WKOW) -- The federal regulators that oversee financial markets say they are investigating the causes of the mass sell-off Thursday that pushed the Dow Jones Industrial average down hundreds of points. They are identifying one possible cause: Conflicting trading rules for different markets.
The Securities and Exchange Commission and the Commodity Futures Trading Commission say they are reviewing data related to Thursday's trading frenzy. They are looking at information from exchanges, self-regulatory groups and market participants. They say they will make any necessary changes to prevent the problem from recurring.
The SEC and CFTC have ultimate oversight of financial markets, but they generally rely on the markets to write and enforce their own rules.
NEW YORK (WKOW) -- Stocks are finding stability today after one of the most turbulent days in the market's history.
A strong report on jobs reassured investors that the economy is recovering.
The Labor Department reports employers added 290,000 jobs last month, more than expected. However the jobless rate rose to 9.9 percent from 9.7 percent as more people looked for work.
In the opening minutes of trading, the Dow Jones industrial average rose 50, or 0.5 percent, to 10,570. The Standard & Poor's 500 index rose 6, or 0.5 percent, to 1,134, while the Nasdaq composite rose 8, or 0.4 percent, to 2,327.
Gaining stocks outpaced declining ones three to two on the New York Stock Exchange, where volume was 180 million shares.
NEW YORK (WKOW) -- Asian stock markets fell across the continent early this morning following massive losses on Wall Street Thursday.
At one point, the Dow Jones industrial average plunged 1,000 points -- the biggest drop ever during a trading day. The Dow recovered two-thirds of the loss before the closing bell, but that was still the biggest loss since February of last year.
The cause: the Greece Financial crisis, trading errors and overall fears about the economy.
The hope is that the markets will rally this morning -- on the expected news that the economy added jobs for the second straight month. The markets are on target for a positive open according to the future markets.