THE WEEK'S TOP NEWS AND ANALYSIS
By MarketWatch
Last Update: 5:57 PM ET Oct 28, 2005
After a truly lousy week, President Bush can take some comfort from the fact that at least one of the three big stories coming out of the White House actually appeared to go his way.
Sure, his latest nominee for the Supreme Court withdrew under pressure Thursday, and yes, his VP's chief of staff resigned Friday after being indicted. But at least Monday's nomination of Ben Bernanke to run the Federal Reserve seemed to go over well.
As bad as the news was for the White House, the last full week of October proved to be a good one for bulls. The Dow Jones Industrial Average (INDU) rose 1.8%. The Nasdaq Composite ($COMPQ) added 0.4%, and the S&P 500 Index (SPX) gained 1.6%.
For its part, our weekend feature looks at whether Charles Schwab can make good on his return to power. See MarketWatch front page.
Coming up on MarketWatch Weekend TV show: Why Time Warner Inc.'s AOL may be one of the Web's hottest properties, E-Trade's growth, new Medicare prescription plans and paying for a grandchild's education. Find out more here.
Perhaps the best news of all for investors and the president alike is that with the end of daylight savings this weekend, everybody can sleep in an extra hour on Sunday.
-- Tom Bemis, assistant managing editor
Bush taps Bernanke to lead Fed
President Bush named his lead economic adviser, Ben Bernanke, to succeed Federal Reserve Chairman Alan Greenspan on Monday, signaling the U.S. economy has been passed to a new generation. See full story.
Economic Report: U.S. GDP increases 3.8% in quarter
Growth in the U.S. economy picked up in the third quarter to a 3.8% annualized rate, the Commerce Department said Friday. See full story.
Supreme Court rebuffs Research In Motion on patent
The Supreme Court on Wednesday denied a request by Research In Motion Ltd. (RIMM) to suspend a lower court's adverse ruling in a key patent-infringement lawsuit against the maker of the hot-selling BlackBerry wireless device. See full story.
GM subpoenaed in SEC accounting probe
General Motors Corp. (GM) said late Wednesday that it received subpoenas from the Securities & Exchange Commission as part of an agency investigation of the automaker's pension obligations and business dealings with bankrupt Delphi Corp. See full story.
Upbeat Microsoft investors look ahead
Microsoft Corp.'s (MSFT) stock on Friday overcame the company's tepid forecast for current-quarter results, with analysts and investors apparently focusing instead on the overall outlook, accelerated share-buyback plans and an upcoming bevy of product launches. See full story.
Oil, gas prices boost Exxon's quarterly net 75%
Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, said Thursday that high oil and gas prices boosted profit 75% and resulted in revenue of more than $100 billion for the first time. See full story.
SBC to be renamed AT&T after completing merger
In a bid to build its national profile, SBC Communications Inc. (SBC) said Thursday that it will assume the AT&T brand name after it completes its acquisition of the historic long-distance company (T). See full story.
Amazon net falls 44%; stock down late on forecast
Amazon.com Inc. (AMZN) reported late Tuesday that third-quarter net income fell 44% as the online retailer paid a large legal settlement and its expenses rose faster than sales due in part to a low-priced delivery promotion. See full story.
Boeing boosts 2005 outlook as quarterly net rises
Boeing Co. (BA) said Wednesday that third-quarter net income rose, helped by a tax benefit and a divestment, though sales fell 4% after a strike shut down the company's commercial-jet production line for nearly a month. See full story.
Wilma exposes insurers again
Allstate Corp. and St. Paul Travelers are among the most exposed insurers to Hurricane Wilma, which is but the latest damaging storm to hit the United States in a record-breaking season. See full story
By MarketWatch
Last Update: 5:57 PM ET Oct 28, 2005
After a truly lousy week, President Bush can take some comfort from the fact that at least one of the three big stories coming out of the White House actually appeared to go his way.
Sure, his latest nominee for the Supreme Court withdrew under pressure Thursday, and yes, his VP's chief of staff resigned Friday after being indicted. But at least Monday's nomination of Ben Bernanke to run the Federal Reserve seemed to go over well.
As bad as the news was for the White House, the last full week of October proved to be a good one for bulls. The Dow Jones Industrial Average (INDU) rose 1.8%. The Nasdaq Composite ($COMPQ) added 0.4%, and the S&P 500 Index (SPX) gained 1.6%.
For its part, our weekend feature looks at whether Charles Schwab can make good on his return to power. See MarketWatch front page.
Coming up on MarketWatch Weekend TV show: Why Time Warner Inc.'s AOL may be one of the Web's hottest properties, E-Trade's growth, new Medicare prescription plans and paying for a grandchild's education. Find out more here.
Perhaps the best news of all for investors and the president alike is that with the end of daylight savings this weekend, everybody can sleep in an extra hour on Sunday.
-- Tom Bemis, assistant managing editor
Bush taps Bernanke to lead Fed
President Bush named his lead economic adviser, Ben Bernanke, to succeed Federal Reserve Chairman Alan Greenspan on Monday, signaling the U.S. economy has been passed to a new generation. See full story.
Economic Report: U.S. GDP increases 3.8% in quarter
Growth in the U.S. economy picked up in the third quarter to a 3.8% annualized rate, the Commerce Department said Friday. See full story.
Supreme Court rebuffs Research In Motion on patent
The Supreme Court on Wednesday denied a request by Research In Motion Ltd. (RIMM) to suspend a lower court's adverse ruling in a key patent-infringement lawsuit against the maker of the hot-selling BlackBerry wireless device. See full story.
GM subpoenaed in SEC accounting probe
General Motors Corp. (GM) said late Wednesday that it received subpoenas from the Securities & Exchange Commission as part of an agency investigation of the automaker's pension obligations and business dealings with bankrupt Delphi Corp. See full story.
Upbeat Microsoft investors look ahead
Microsoft Corp.'s (MSFT) stock on Friday overcame the company's tepid forecast for current-quarter results, with analysts and investors apparently focusing instead on the overall outlook, accelerated share-buyback plans and an upcoming bevy of product launches. See full story.
Oil, gas prices boost Exxon's quarterly net 75%
Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, said Thursday that high oil and gas prices boosted profit 75% and resulted in revenue of more than $100 billion for the first time. See full story.
SBC to be renamed AT&T after completing merger
In a bid to build its national profile, SBC Communications Inc. (SBC) said Thursday that it will assume the AT&T brand name after it completes its acquisition of the historic long-distance company (T). See full story.
Amazon net falls 44%; stock down late on forecast
Amazon.com Inc. (AMZN) reported late Tuesday that third-quarter net income fell 44% as the online retailer paid a large legal settlement and its expenses rose faster than sales due in part to a low-priced delivery promotion. See full story.
Boeing boosts 2005 outlook as quarterly net rises
Boeing Co. (BA) said Wednesday that third-quarter net income rose, helped by a tax benefit and a divestment, though sales fell 4% after a strike shut down the company's commercial-jet production line for nearly a month. See full story.
Wilma exposes insurers again
Allstate Corp. and St. Paul Travelers are among the most exposed insurers to Hurricane Wilma, which is but the latest damaging storm to hit the United States in a record-breaking season. See full story