Fed chief Bernanke avoids taking a position on taxes while telling Congress it must act 'in a timely manner' to reduce the deficit. Failing to raise the debt limit, he says, would be a costly mistake.
The Dow closed down more than 90 points after the Department of Labor released a discouraging jobs report on Friday
Unemployment increased to 9.1 percent in May, and only 54,000 new jobs were created. Economists point to lingering impacts of the tsunami plus rising food and gas prices.
The Dow rose about 38 points, with DuPont rising and Verizon falling. The Nasdaq rose about 15 points.
After Standard & Poor's downgraded its outlook on US debt Monday and sent stocks downward, stocks rose on Tuesday, with the Dow gaining about 65 points
Dow gains 7 points after Obama's deficit speech. Stocks on the S&P up less than 1 point.
Dow falls 29 points as gold soars to new record and oil prices reach highest level since 2008. Traders focus on impact on stocks of a potential government shutdown.
Wall Street insiders aren't worried the government might hang an 'out to lunch' sign. The market improved during the 1995 government shutdowns. Of greater concern: raising the debt ceiling.
Dow Jones falls 88 points after falling nearly 180 points. Stocks on S&P and Nasdaq also pare losses at the close.
Not only did the unemployment rate fall, but the US economy added 192,000 jobs in February. But economists view the numbers differently.