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Latest stock market news from Wall Street - CNNMoney.com
From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.

Stocks surge on Treasury chief talk Stocks rallied Friday, with the Dow industrials bouncing as much as 550 points, after reports surfaced that President-elect Barack Obama will nominate New York Federal Bank president Timothy Geithner as his new Treasury Secretary. Oil settles below $50 again The price of oil fell Friday, settling at a 5 1/2 year low, as volatile stock prices raised concerns about waning global energy demand. Dollar mixed as jitters persist The dollar was mixed against major currencies Friday as investors remain risk-averse amid global economic uncertainty. Treasurys: The pressure eases a little Treasury yields bounced back Friday, as stocks rallied from a precipitous decline - a day after yields hit all-time lows in a warning that credit markets remain vulnerable and investors are hungry for the safety of government debt. The case for buying oil stocks Last week, the Paris-based International Energy Agency released its World Energy Outlook 2008 - a 578-page book full of future supply, demand, and price estimates which this year also included an eagerly-awaited study of 800 of the world's largest oil fields. Asian markets rebound strongly Most Asian markets rebounded strongly in afternoon trading Friday, with financials such as Mizuho Financial Group and HSBC Holdings leading the bounce after a string of recent declines. Big banks get crushed Bank stocks plunged again Thursday with some of the biggest names in the industry falling to their lowest levels in more than a decade. It's anybody guess when the selloff will end. Oil sinks below $50 Oil prices continued to plunge Thursday, dropping below $50 a barrel as growing concern about the economy pointed to weak demand for energy. The price marked the lowest level in three-and-a-half years. Dollar mixed amid jitters The dollar was mixed against major currencies Thursday as investors were jittery about the global economic slowdown and as the fate of the US auto industry bailout remained in limbo. Global stocks fall sharply Overseas stock markets fell sharply Thursday, taking a cue from Wall Street, as investors remained anxious about the grim outlook for the global economy and corporate profits.

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