Financial news on August 22, 2008
Business and Financial news
Burdened by Mortgages, Lehman’s Options Narrow
As the stocks of Fannie Mae and Freddie Mac have plummeted, financial shares have taken a beating. But few have suffered as much as Lehman Brothers. Read more..
Oil Soars, Dollar Falls and Worries Stay
Oil jumped more than $5 a barrel and the dollar fell against the euro and the yen as raw material prices had one of their biggest bounces in weeks and financial stocks lingered in the red. Read more..
Seeking More Viewers, MSNBC Turns Left
With the promotion of Rachel Maddow, the Air America radio host, to a prime-time television spot this week, MSNBC cemented its identity as a channel for a liberal audience. Read more..
Slump Could Mirror 1990s, British Regulator Says
Britain’s banks should be prepared to cope with an economic downturn and a housing market slump that could mirror the recession in the early 1990s, a regulator said. Read more..
Stock Markets
Values are reported in US Dollars
| Stock | Ticker symbol | Open | High | Low | Close | Volume |
| Microsoft | MSFT | 27.23 | 27.88 | 27.22 | 27.84 | 47.9M |
| Intel | INTC | 23.20 | 23.52 | 22.92 | 23.49 | 45.4M |
| Wells Fargo & Co. | WFC | 29.22 | 29.66 | 28.70 | 29.36 | 44.9M |
| JPMorgan Chase | JPM | 37.22 | 38.25 | 36.86 | 37.67 | 36M |
| General Electric | GE | 28.91 | 29.24 | 28.85 | 29.12 | 29.9M |
| Pfizer | PFE | 19.48 | 19.82 | 19.36 | 19.75 | 28.9M |
| Cisco Systems | CSCO | 24.38 | 24.82 | 24.28 | 24.71 | 28.2M |
| ExxonMobil | XOM | 80.00 | 80.70 | 79.15 | 80.30 | 19.7M |
| Oracle Corp. | ORCL | 22.52 | 22.82 | 22.39 | 22.70 | 18.3M |
| AT&T Inc. | T | 30.90 | 31.47 | 30.76 | 31.17 | 18.1M |
| Apple | AAPL | 175.82 | 177.50 | 175.57 | 176.79 | 15.7M |
| Comcast | CMCSA | 21.56 | 21.82 | 21.27 | 21.71 | 13.9M |
| HP Inc. | HPQ | 46.49 | 47.22 | 46.30 | 47.06 | 13.4M |
| Home Depot | HD | 26.69 | 27.15 | 26.58 | 27.11 | 13.3M |
| Wal-Mart Stores | WMT | 58.71 | 59.51 | 58.71 | 59.44 | 12.7M |
| Procter & Gamble | PG | 70.07 | 71.80 | 70.07 | 71.61 | 11.9M |
| ConocoPhillips | COP | 84.40 | 84.59 | 82.38 | 83.18 | 11.5M |
| Verizon Communications | VZ | 34.84 | 35.46 | 34.71 | 35.29 | 10.9M |
| Merck | MRK | 35.00 | 35.51 | 34.75 | 35.27 | 9.65M |
| Chevron | CVX | 87.68 | 88.78 | 87.25 | 88.10 | 8.57M |
| Walt Disney & Co. | DIS | 32.12 | 32.38 | 31.88 | 32.20 | 7.95M |
| Johnson & Johnson | JNJ | 71.05 | 71.68 | 70.82 | 71.42 | 7.72M |
| Coca-Cola | KO | 53.62 | 54.51 | 53.41 | 54.37 | 7.41M |
| Bristol-Myers Squibb | BMY | 22.05 | 22.47 | 21.90 | 22.34 | 7.2M |
| Abbott Laboratories | ABT | 58.14 | 58.92 | 58.01 | 58.48 | 7.08M |
| Amgen | AMGN | 64.20 | 64.23 | 63.50 | 64.01 | 6.77M |
| UnitedHealth Group | UNH | 30.46 | 30.72 | 30.11 | 30.61 | 6.67M |
| Altria | MO | 20.95 | 21.07 | 20.75 | 20.92 | 6.61M |
| International Business Machines | IBM | 123.30 | 125.35 | 122.80 | 124.93 | 5.99M |
| Schlumberger | SLB | 98.10 | 99.05 | 96.71 | 97.26 | 5.94M |
| McDonald's | MCD | 62.69 | 63.90 | 62.69 | 63.42 | 5.61M |
| Boeing | BA | 63.94 | 65.71 | 63.51 | 65.55 | 5.49M |
| Visa | V | 75.36 | 75.79 | 73.84 | 74.09 | 5.24M |
| Gilead Sciences | GILD | 54.42 | 54.93 | 53.83 | 54.31 | 4.93M |
| Union Pacific | UNP | 78.62 | 81.15 | 78.32 | 79.55 | 4.75M |
| Amazon | AMZN | 84.27 | 85.46 | 83.93 | 85.26 | 4.68M |
| Alphabet | GOOGL | 491.50 | 494.88 | 489.48 | 490.59 | 4.59M |
| United Technologies | UTX | 64.88 | 66.06 | 63.00 | 65.98 | 4.1M |
| Pepsico | PEP | 69.56 | 70.20 | 69.39 | 69.90 | 3.39M |
| 3M | MMM | 70.91 | 72.71 | 70.54 | 72.28 | 3.06M |
| Berkshire Hathaway | BRK.B | 3845.00 | 3895.00 | 3845.00 | 3870.00 | 12.8K |
Exchange Rates of August 22, 2008
| Currencies | Exchange Rates | ||
| US Dollar | Japanese Yen | 1 USD = 110.090 JPY | 1 JPY = 0.009 USD |
| US Dollar | Canadian Dollar | 1 USD = 1.047 CAD | 1 CAD = 0.955 USD |
| US Dollar | Swiss Franc | 1 USD = 1.098 CHF | 1 CHF = 0.910 USD |
| US Dollar | Chinese Yuan | 1 USD = 6.834 CNY | 1 CNY = 0.146 USD |
| Euro | Japanese Yen | 1 EUR = 162.850 JPY | 1 JPY = 0.006 EUR |
| Euro | Pound Sterling | 1 EUR = 0.798 GBP | 1 GBP = 1.253 EUR |
| Euro | Australian Dollar | 1 EUR = 1.708 AUD | 1 AUD = 0.586 EUR |
| Euro | Canadian Dollar | 1 EUR = 1.548 CAD | 1 CAD = 0.646 EUR |
| Euro | Swiss Franc | 1 EUR = 1.625 CHF | 1 CHF = 0.615 EUR |
| Japanese Yen | Pound Sterling | 1 JPY = 0.490 GBP | 1 GBP = 2.041 JPY |
| Japanese Yen | Australian Dollar | 1 JPY = 1.049 AUD | 1 AUD = 0.954 JPY |
| Japanese Yen | Canadian Dollar | 1 JPY = 0.950 CAD | 1 CAD = 1.052 JPY |
| Japanese Yen | Swiss Franc | 1 JPY = 0.998 CHF | 1 CHF = 1.003 JPY |
| Pound Sterling | Australian Dollar | 1 GBP = 2.141 AUD | 1 AUD = 0.467 GBP |
| Pound Sterling | Canadian Dollar | 1 GBP = 1.940 CAD | 1 CAD = 0.516 GBP |
| Pound Sterling | Swiss Franc | 1 GBP = 2.035 CHF | 1 CHF = 0.491 GBP |
| Australian Dollar | Canadian Dollar | 1 AUD = 0.906 CAD | 1 CAD = 1.104 AUD |
| Australian Dollar | Swiss Franc | 1 AUD = 0.950 CHF | 1 CHF = 1.052 AUD |
| Canadian Dollar | Swiss Franc | 1 CAD = 1.049 CHF | 1 CHF = 0.953 CAD |
See what else happened on August 22, 2008