Countdown to the close: 59 min 59 sec

INVESTOR ALERT
Stocks shoot for ninth gain in 10

January 9 2009 4:48 A.M. EST

On the fence before job data

Stocks in Europe trade in a tight range on Friday, with investors finding it difficult to commit before what could be the worst U.S. employment report in years. In Asia, markets also cautious. 
• Asia awaits U.S. jobs report | Stocks to watch | Friday preview Audio
 
Corporate fraud
Satyam shares in free fall
Stock down another 55% Friday, has lost 90% of its value in the two days since CEO admitted inflating software giant's balance sheet by more than $1 billion. (Left, interim CEO Ram Mynampati)
• Satyam rushes to assess finances after CFO appears to bail (wsj.com)

Global Economics
Recession depression
The U.S. economic recession is set to deepen in the first half of the year, but could begin to show signs of improvement later in the year, says Boston Federal Reserve Bank President Eric Rosengren. 
• U.K. rate cut 'will starve banks of cash' (Times Online)
 • South Korea slashes interest rates | Spain production data falls 15.1%

U.S. Economic outlook
 Worst job loss since WW II?
 With another half-million jobs disappearing in December, the U.S. Labor Department is expected Friday to report the greatest quarterly employment loss since 1945.
• Jobless claims have good news, bad news
 • California job outlook
 
Latest News more » Top Stories more » Market Pulse more » Headlines more » Press Releases more »

  • 4:39 a.m.

    U.K. Dec. output PPI flat, up 4.7% on year

  • 4:38 a.m.

    U.K. Nov. manufacturing output down 2.9%

  • 4:37 a.m.

    Correct: U.K. Nov. industrial production down 2.3%

  • 3:17 a.m.

    Spain Nov. annual total industry production falls 17.2%

  • 3:15 a.m.

    Spain Nov. annual adjusted industrial production falls 15.1%

  • 3:10 a.m.

    [012068] Natixis down 4.2% after report of loss

  • 3:08 a.m.

    [803200] Commerzbank shares down 6.1% in early Frankfurt trading

  • 3:05 a.m.

    [BVS] Bovis down 0.8% after average sale price declines

  • 3:04 a.m.

    [MSY] Misys up 1.9% after seeing profit growth

  • 2:41 a.m.

    [NYX] NYSE Euronext daily European volumes steady

  • 2:41 a.m.

    [NYX] NYSE Euronext U.S. daily cash volume up 30% to 3.3B shares

  • 2:10 a.m.

    [000373953] UCB Pharma signs partnership deal with Wilex

  • 2:08 a.m.

    [MSY] Misy finance chief Jim Malone has resigned

  • 2:07 a.m.

    [MSY] Misys sees H1 adjusted operating profit increasing

  • 2:06 a.m.

    [MSY] Misys sees H1 revenue growth to exceed high teens rate

  • 2:04 a.m.

    [BVS] Bovis Homes sees 2008 profit in line with expectations

  • 11:27 p.m.

    Satyam shares crash 69.6% in Mumbai early trading

  • 9:03 p.m.

    Japan's Topix ends morning at 849.79, down 1.3%

  • 9:03 p.m.

    Japan's Nikkei ends morning session down 0.9% at 8,792.72

  • 9:02 p.m.

    Shanghai Composite gains 0.6% to 1,888.69

 
Today inside MarketWatch
   IN COMMENTARY
media web
 What if they made a movie about Madoff?
Jong Friedman plays casting director to pick the actors most likely to portray the accused Wall Street swindler.

Also in Commentary:
 • Kostigen says it is rocket science
• Weidner writes 2009's headlines
• Harrison's crystal ball is cloudy
 • Callaway waits for the dying to begin

  IN PERSONAL FINANCE
chuck jaffe
 More questions
than answers

Stocks are cheaper, but it's tough to know whether to buy or sell. 

Also in Personal Finance:
 • Why one adviser turned to ETFs
• If your home-equity line is cut ...
• 30-year mortgage rate hits new low
 • Seven steps to get on a jump on taxes
• New president faces retirement challenge

IN NEWSLETTERS
peter Brimelow
 2008 was fabulous
for Arch Crawford
His astrology-based newsletter was the year's top performer.

Also in Newsletters:
• Hulbert finds another unreliable 'indicator

   IN MULTIMEDIA
Politics
 It's official: Obama next US. president

Congress puts imprimatur on electoral college vote making Obama first black leader in nation's history, setting stage for Jan. 20 inauguration.

Also in Multimedia:
• Mossberg's top gadgets at CES
• WSJ.com's End of Wall Street

CRUDE OIL
 Chevron sounds earnings alarm
 Says falling crude, natural gas prices will result in "significantly lower" earnings.
• Schlumberger to lay off 1,000
 • Oil tumbles again  

U.S. FINANCIALS
 Lawmakers, Citi in loan-modification deal
Senate Democrats say Citigroup won't oppose bill to give bankruptcy judges the authority to eliminate some mortgage debt.
• Lehman to spin out private equity arm: WSJ
 • Commercial paper claws to pre-Lehman levels
• Fed buys $10.2 billion in mortgage-backed assets
• Households pay down record $7.9 billion in consumer debt

world automakers
 Showtime in Detroit
Facing the industry's worst slowdown ever, Asian and European manufacturers join their U.S. counterparts next week to show off new models at automakers' ground zero  — in 
models at automakers' ground zero  — in Detroit, at the important North American International Auto Show.
• BMW group sales fall 26.4% |  Renault vehicle sales fall 4.2%  
• UAW barred from striking at GM as part of U.S. bailout package

U.S. Economy
Obama warns of life without stimulus
 President-elect urges quick work on an economic stimulus package to head off massive unemployment and other woes.
• Recession will last two years, with GDP down 5%, Roubini says
 • Obama wants delay in digital TV switchover

CES IN LAS VEGAS
 Palm lifts wraps on new device, platform
Handset maker introduces a new operating system and touch-screen phone following a nearly two-year long restructuring effort.
 • Reporter's notebook: SanDisk's new twist on digital music
 • With Windows 7, CEO says Microsoft will 'get it right'
 • Palm introduces new phone

HEDGE FUNDS
 Amid big 2008 losses, some managers perform
Funds lost record 19% on average, but some firms, including Paulson & Co. and Brevan Howard, generated strong gains.
• Madoff had $173 million in checks in desk, feds say (WSJ.com)
• SEC reopens probe into Pequot Capital and Microsoft dealings

Trading Strategies: January 2009
How to start over after
a brutal 2008
From bear-market rally tips, to hedging the Obama effect, to a pure play on the Baltic Dry Index, our experts have ideas for getting over 2008's tumult.

NEWSROOM ROSTER | CORRECTIONS | CODE OF CONDUCT | FEEDBACK

U.S. Europe Asia Currency/Rates More Markets»
Dow
8,742 -27.24
Nasdaq
1,617 17.95
S&P 500
910 3.08
Global Dow
1,555 -5.70
Oil
$42.06 0.36
Gold
$854.50 12.80
London
4,483 -22.36
Paris
3,317 -6.94
Frankfurt
4,868 -11.58
Global DowEU
1,071 -0.52
Tokyo
8,837 -39.62
Hong Kong
14,377 -38.47
Sydney
3,680 29.50
Global Dow
1,555 -5.70
10yr Treas
2.44% 0.00
Euro / $1US
1.37 -0.0030
$1US / Yen
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Pound / $1US
1.51 -0.0085
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