11:15 am : CNBC reports that the UAL (UAUA 8.97, -3.33) bankruptcy
reports are untrue, with a 4-year-old story somehow being reported
as current. The stock is halted for trading.DJ30 +229.20 NASDAQ
+14.58 SP500 +21.42 NASDAQ Adv/Vol/Dec 1778/919 mln/832 NYSE
Adv/Vol/Dec 2261/613 mln/700
11:05 am : The major indices fall to session lows, but continue to
post solid gains. Overseas stocks are outperforming the U.S. The
Dow Jones World Index ex U.S. is up 2.8%.
Financials are up 2.5%, retreating from a session high of +6.2%.
Lehman Brothers (LEH 13.75, -2.45) reversed to a 15% loss on no
specific news item.
Airlines plummet 20% after UAL Corp (UAUA 5.35, -6.39), parent
company of United Airlines, filed for Chapter 11 bankruptcy
protection, with plans to cut costs by 20%, according to ISA
Bloomberg reports.
Housing-related areas are seeing some of the most buying interest,
as the 30-year fixed mortgage rate drops 32 basis points to 6.08%,
according to Bankrate.com. Building products (+9.4%), homebuilding
(+7.9%), and home improvement retail (+5.2%) stocks are all trading
higher.DJ30 +168.68 NASDAQ +16.73 SP500 +13.40 NASDAQ Adv/Vol/Dec
1776/769 mln/784 NYSE Adv/Vol/Dec 2288/530 mln/644
http://finance.yahoo.com/marketupdate?u