R10 Monday, January 3, 2011 THE WALL STREET JOURNAL.
YEAR-END REVIEW OF MARKETS FINANCE
An orca whale attacked and killed a
4 trainer in front of a horrified audi-
U.S. consumers in 2009 spent more ence at a Sea World show in Or-
on movie tickets than for buying lando, Fla.
movies to watch at home for the
first time since 2002. “Avatar”
topped the $1 billion mark in global
sales, the fifth film at that level. 1
The death toll from a quake in Chile
5 passed 700. Chile’s quake released
Novartis said it will pay Nestlé $28.1 500 times as much energy as
billion as part of its bid to acquire U.S. Haiti’s, but strict building codes
eye-care company Alcon, the biggest helped curb damage.
takeover in Swiss history.
A suicide bomber who killed seven AIG struck a $35.5 billion deal to sell
CIA employees and contractors and its Asian life-insurance business to
a Jordanian in Afghanistan was a Britain’s Prudential PLC.
double agent recruited by the CIA.
Dubai opened the world’s tallest BP is pushing through a shake-up of
skyscraper, at 2,717 feet. its oil-production business as it
seeks to increase profits.
Federal prosecutors, expanding a 5
major insider-trading case, alleged Iraqi elections opened to violence
for the first time that Galleon Group and fraud claims. At least 12 people
founder Raj Rajaratnam paid a were killed in three separate attacks.
tipster for inside information. The
case continued throughout the year. 8
AIG and MetLife neared a $15.5 bil-
7 lion deal for Alico.
Recalling a Year of
GM’s chief said the auto company
would make money in 2010, a bold “The Hurt Locker,” about an Iraq
prediction for a business that exited bomb-disposal squad, won six Os-
bankruptcy in summer 2009. cars, including best picture and di-
rector for Kathryn Bigelow, the first
11 woman to win that award.
Triumph and Tragedy
Jay Leno will reclaim his 11:35 p.m.
time slot as NBC abandons its 13
prime-time experiment, touching off Lehman Brothers’ final weeks were
a public-relations fiasco with “The a scramble of collateral-juggling and
Tonight Show” host Conan O’Brien. balance-sheet maneuvering, a bank-
ruptcy examiner’s report shows.
A 7.0-magnitude earthquake hit Looking back on 2010, one could choose to dwell on Spain won its first World Cup. And in August, a col- 17
Haiti, destroying thousands of The Federal Reserve will end pur-
buildings in the Caribbean nation’s
the negative. There was no shortage of it. lapsed mine shaft trapped 33 in Chile; less than three chases of $1.25 trillion of mortgage-
biggest temblor in two centuries. In January, an earthquake devastated Haiti, killing months later a captivated world watched as every backed securities, one of its main
Damage to the main seaport, airport more than 200,000 in the poorest country in the West- miner emerged, safe, from the darkness. supports for the economy
congestion and a crumpled ern Hemisphere. In April, a mining blast in West Virginia Also making headlines on the domestic and world
infrastructure hampered relief The number of inmates in state
efforts. Early estimates put the
killed more than two dozen in the worst coal-mine acci- stages: The U.S. Congress passed overhauls of health prisons fell in 2009 for the first
death toll at more than 100,000. dent in the U.S. in 40 years. Also in April, and continuing care and financial regulation. Iran continued to press its time since 1972.
through the summer months, an oil rig exploded and col- nuclear ambitions. North Korea clashed with South Ko-
19 lapsed in the Gulf of Mexico, spilling millions of barrels. rea. Europe’s sovereign-debt crisis resulted in two major 22
A Turkish man who shot Pope John The House approved a historic
Paul II in 1981 was freed from
Juxtaposed against the misery, the human spirit rescues and roiled the continent. Several terror plots health-care overhaul. Lawmakers
prison with his motives still unclear. shined. In January, the world gathered for the Winter fizzled or were foiled. The “flash crash” shook markets. gave final passage to the Senate’s
Olympics, where a luger lost his life just before the Here is a summary of news events from the front page legislation on a climactic 219-212
20 start; the Games went on and the host Canadians took of The Wall Street Journal. In most cases, the dates reflect vote. No Republicans voted for the
Massachusetts went red in a state bill; 34 Democrats voted no. Presi-
Senate election upset, foreshadowing
the gold in their most popular sport, hockey. Iraqis and when the items were published, not the date of the event. dent Obama pushed the measure
the challenges Democrats Afghans took part in free, if violence-marred, elections. —Brian Hershberg and Michael Driscoll toward passage with a promise to
encountered in November’s elections. issue an executive order that no
funds dispensed under the $940 bil-
Kraft clinched a deal to acquire lion bill would pay for abortions,
Cadbury for $19.4 billion. winning over antiabortion Demo-
An aftershock rattled Haiti. The 5.9- A volcano in south Iceland erupted
magnitude temblor came as Haiti’s for the first time in 200 years, forc-
government said the confirmed ing evacuations.
earthquake death toll has topped
150,000 in the capital area alone. 24
President Obama signed the health-
22 care overhaul into law. The White
Toyota recalled 2.3 million vehicles in House ceremonies opened an in-
the U.S. to correct sticking tense effort to sell the new law to
accelerator pedals, increasing the an often-skeptical public. Over a
number affected by 600,000. dozen states filed suit to stop the
law, saying requiring individuals to
26 buy insurance is unconstitutional.
GM’s Ed Whitacre said he will stay
on as chief executive, ending a short 26
stint as interim CEO. Greece won support for a deal that
could lead to a bailout, as leaders of
27 the 16-nation euro zone backed an
The CBO predicted that the nation’s accord under which they and the In-
jobless rate won’t return to 5% until ternational Monetary Fund would
the middle of the decade. come to the rescue should the na-
tion’s debt troubles intensify.
Treasury Secretary Timothy Geith- 27
ner batted back an assault from LIFE AND DEATH: Poland’s Justyna Kowalczyk, top, celebrates after winning gold in cross-country at the Vancouver 2010 Winter Olympics Ayad Allawi’s alliance won Iraq’s na-
House lawmakers at a hearing over in February. A month prior, Cindy Terasme screams after seeing her brother, who died in the rubble of a school in earthquake-racked Haiti. tional election. The predominantly
the AIG bailout. Mr. Geithner said he Sunni alliance edged out Prime Min-
took “full responsibility, and great ister Nouri al-Maliki’s bloc. The upset
pride” in his decisions, including one February accord overseen by the U.N., but vival record. Olympic luger from the Republic of threatens to end the lock on power
to pay banks in full on contracts Western diplomats were skeptical. Georgia died after a high-speed that the majority Shiites have had
they held with the insurer. 2 An opposition leader criticized Iran’s 8 crash, hours before opening ceremo- since 2003, and could test Iraq’s
President Obama’s $3.8 trillion bud- regime, saying a dictatorship sur- The Saints’ 31-17 Super Bowl vic- nies for the Vancouver Winter fragile institutions. Maneuvering to
29 get sharply raises taxes on the vives 31 years after the shah’s fall. tory over the Colts caps an improb- Games. form a coalition continued through-
Ben Bernanke won Senate confir- wealthy. The plan for fiscal 2011 able turnaround for a team and its out the year.
mation for a second term as Fed- calls for nearly $1 trillion in tax in- The Joint Chiefs chairman called for city. CBS drew 17
eral Reserve chairman. creases on families with income repeal of the “don’t ask, don’t tell” about 106.5 mil- Egypt’s King Tut- A South Korean navy ship sank af-
above $250,000, largely through let- law, saying gays should be allowed lion viewers for ankhamun died from ter an explosion near a maritime
ting Bush tax cuts expire. to serve openly in the military. Legal the broadcast, a complication of a bro- border with North Korea. Forty-six
and political battles ensued until U.S. record. ken leg and malaria, sailors died. Seoul in May came to
3 year’s end. tests of the mummy conclude the ship was sunk deliber-
U.S. regulators accused Toyota of 12 revealed. ately by Pyongyang.
dragging its feet on fixing defective 5 European leaders
gas pedals. The next week, a Toyota A judge in Haiti charged 10 Ameri- said they 20 30
executive said U.S. dealers are re- can missionaries with child abduc- wouldn’t let Federal investigators Suicide blasts killed 38 in Moscow
pairing 50,000 recalled cars a day tion and criminal association. Greece succumb closed their probe of subway stations, exposing flaws in
and insisted the gas-pedal fix would Charges were eventually dropped. to its credit cri- the deadly 2001 an- the Kremlin’s antiterrorist strategy.
last “a lifetime.” Days later, an emaciated man was sis. thrax mailings, con-
pulled from the rubble of a market cluding that a gov- 31
Mahmoud Ahmadinejad said Iran in Haiti, nearly four weeks after the 13 ernment scientist President Obama is to propose
would accept a nuclear fuel-swap quake, quite possibly a disaster-sur- A 21-year-old acted alone. more oil drilling in Gulf of Mexico.
First-Quarter Rewind | Moves and milestones in the markets
The S&P 500 logs a A three-day skid of 552.45 The New Orleans Berkshire Hathaway The Dow gains 2.6% for Blue chips, on the one-year Congress passes
sixth straight gain, points comes as investors fret Saints win the Super joins the S&P 500 February, in a month that anniversary of the bear-market health-care
its best start to a over earnings, bank restrictions, Bowl, suggesting an up index, after earlier saw eight triple-digit low, launch into an overhaul and Obama
year since 1987 Chinese economic policy and, year for stocks for splitting its B daily point moves eight-session winning streak signs it into law
wrongly it turned out, the adherents of the Super shares 50 to 1
possibility that Ben Bernanke Bowl Predictor theory
might not get conﬁrmed for a 11000
second term as Fed chairman
Coming off an 18.8% gain Expected Republican Bernanke wins The Dow The Dow closes below The Fed raises its The Dow pushes back Dow ends quarter with a gain of 9500
in 2009, the Dow opens Senate victory in reconﬁrmation, ﬁnishes down 10000, then reclaims rate for emergency into positive territory 428.58 points, or 4.1%, in a volatile
the new year with a Massachusetts touches but Dow falls 3.5% in January, it on hope for a plan loans to banks for the year as three months marked by a
155.91-point jump. (Still, off a rally in health-care anyway its weakest to ease Europe's analysts upgrade three European debt crisis, landmark
the index remains 25% stocks, sending the Dow month since sovereign-debt crisis components’ shares health-care legislation and a 9000
below its record in 2007) to a 15-month high February 2009 conﬂicted economic outlook
JANUARY FEBRUARY MARCH
Source: WSJ Market Data Group
THE WALL STREET JOURNAL. Monday, January 3, 2011 R11
YEAR-END REVIEW OF MARKETS FINANCE
April policies and blasted what activists 28 audacious $955 billion bailout plan South Korean warship. U.S. signed to tame volatility in individ-
called onerous taxes and a bloated Greece’s credit crisis spread to for euro-zone economies in a bid diplomats said the situation is one ual stocks.
1 federal government. Portugal after a pair of ratings to stanch a burgeoning sovereign of the gravest threats to Northeast
President Obama’s plan to expand downgrades on the two countries debt crisis that threatens the sta- Asian security “in decades.” 16
offshore drilling drew protests 17 spooked investors. bility of global financial markets President Obama set an energy
from both sides of the aisle. The SEC sued Goldman Sachs, and the future of the euro. 27 plan that looks beyond the spill in
alleging the Wall Street bank and The Coast Guard said that 5,000 BP began its “top kill” operation to his first Oval Office address,
5 one of its star traders, Fabrice barrels a day were estimated to be 11 stanch the oil flow. If BP fails, oil promising to restore the Gulf of
Apple’s iPad appeared to get off Tourre, deceived clients by selling leaking at the site of the spill, five Goldman didn’t have any daily trad- could continue to gush into the Mexico and demanding that BP
to a strong start in its first them mortgage securities designed times the previous estimate. ing losses during the first quarter, a Gulf of Mexico for another two establish a restitution fund. He
weekend—selling more than by housing-market bear Paulson & first for the Wall Street firm. months or more. It failed. also used the crisis to call for
300,000 on its first day. Co. The SEC suit came over the 30 legislation to tackle the U.S.
objections of two Republican Greece reached agreement with 12 28 “addiction” to fossil fuels. The
commissioners, suggesting an the EU and IMF to take extra David Cameron Ford is preparing to government raised its estimate of
unusual split at the agency. austerity measures expected to took over as phase out its 71-year-old the amount of oil flowing from the
yield around $30 billion as a Britain’s prime Mercury brand, adding to well to up to 60,000 barrels a day.
19 precondition for financial minister, five days the list of storied Detroit
Toyota agreed to pay $16.4 million assistance totaling $147 billion. after elections nameplates that have 17
to settle U.S. charges without Protests over spending cuts en- resulted in a hung reached the end of the BP will put $20 billion into a fund
admitting that it knowingly hid sued. Parliament, Gordon road in recent years. for oil-spill victims. The company
evidence of defects from regulators. Brown resigned also said it would cancel dividends
and Mr. Cameron’s The Gulf oil spill was for the first three quarters and pay
22 Conservatives called the worst ever in an additional $100 million into a
A fire at an oil rig in the Gulf of 3 agreed on a power- the U.S. A panel of separate fund to help oil-industry
Mexico killed 11 workers and New York’s Times Square was sharing deal with scientists estimated the workers sidelined by the
injured 17, casting a pall over the evacuated as a car-bomb plot the Liberal Demo- spill has poured at least deepwater-drilling moratorium. The
offshore-drilling boom. Workers fizzled. Authorities quickly homed crats. 420,000 barrels of oil into payments, which far exceed U.S.
6 were unable to shut off the well’s in on a suspect and arrested Faisal the Gulf, surpassing the legal requirements, could help
An explosion at a Massey Energy flow before the rig was sank, Shahzad, an American man of 14 1989 Exxon Valdez disaster. deflect the pressure on BP from
coal mine in West Virginia killed 29 raising the possibility that oil could Pakistani descent, within an A Senate panel approved a $58.8 President Obama declared a politicians and the public. The
miners, in what became the be gushing into Gulf waters. estimated 53 hours and 20 billion funding bill that would bring moratorium on deep-water drilling British oil company’s chairman
deadliest U.S. coal-mine accident in minutes. He pleaded guilty in late the price tag for wars in Iraq and and accepted the resignation of his apologized for the spill.
40 years. In the days and weeks
that followed, it was learned that The U.K. government unveiled a
the mine was cited for dozens of shake-up of its financial regulatory
alleged safety violations. ‘Flash Crash’ | An over-the-shoulder view of how one trader saw the market plunge on May 6 system that will consolidate power
within the Bank of England and
8 dissolve the once-vaunted FSA,
Alan Greenspan defended his long the main overseer of the
actions as Fed chairman as he nation’s financial center, into three
faced harsh questioning by a new agencies.
commission investigating the
financial crisis. 18
The Los Angeles Lakers won their
Daytime television talk-show host 16th NBA title with an 83-79
Oprah Winfrey says she’ll leave the victory over the Boston Celtics.
studio setting to travel the globe
as host of an evening talk show 21
on her new network. China’s decision to make its
exchange rate more flexible shows
9 a desire by the government to set
President Obama and Russian its economic diplomacy on a more
President Dmitry Medvedev signed sustainable footing. But Beijing
an arms-control pact, dubbed New insisted on gradual change.
Start The treaty between the U.S.
and Russia caps the number of 24
deployed nuclear warheads at President Obama relieved Gen.
1,550 a side. Ratification Stanley McChrystal of his
maneuvering continued throughout Afghanistan command. The
the year. president asked the general to
explain statements mocking the
A South African boy discovered president and members of his
the first known fossils of a administration that appeared in a
prehuman species, raising more magazine article. Gen. David
questions about human evolution. Petraeus was named to take over
the Afghan war effort.
Justice John Paul Stevens said he An underwater robot collided with
plans to retire from the Supreme a cap on BP’s leaking well, slowing
Court this summer. plans to capture more oil. The cap
was removed but later reinstalled.
Poles filled the streets to mourn the 23 June, and in September he was Afghanistan since their start to top oil regulator. 26
deaths of President Lech Kaczynski CenturyTel agreed to buy Qwest sentenced to life in prison. more than $1 trillion. House and Senate Democrats took
and nearly 100 of Poland’s leaders Communications for $10.6 billion in Euro-zone countries and the IMF 15 a decisive step toward a historic
in a plane crash in Russia. stock, marking one of the biggest agreed to extend Greece an un- The space shuttle Atlantis was
June remapping of financial regulation,
telecom deals in years. precedented $147 billion rescue in launched on its final voyage into 1 reaching a legislative compromise
13 return for severe budget cuts, orbit, carrying space station gear. An Israeli commando raid on a six- in overnight negotiations. The bill
Conan O’Brien will return to TV with 24 seeking to halt a European debt ship flotilla sparked a diplomatic would put U.S. banks and financial
a late-night show on TBS, after President Obama criticized an crisis that has threatened the euro. 18 crisis. At least nine pro-Palestinian markets under tighter government
being booted from “The Tonight Arizona measure to crack down on General Motors reported its first activists were killed when soldiers control for years to come.
Show.” His November debut topped illegal immigration. Gov. Jan 4 quarterly profit in three years. boarded one of six ships bound for
his rivals’ ratings. Brewer signed the measure into United and Continental unveiled a the blockaded Gaza Strip. Arab na- 29
law, which makes it a crime for $3 billion merger. 19 tions condemned the incident. Is- The Supreme Court expanded a
14 people in the U.S. illegally to be in Financial markets were rattled as rael defended the action, saying its right to bear arms. The 5-4 ruling
World leaders pledged to secure Germany, citing “excessive price soldiers were being attacked. extends nationwide a 2008
nuclear fuel by 2014. Ending a movements” that could endanger decision that struck down a
global summit on nuclear security, the financial system, banned some 2 D.C.,gun ban and found that the
the leaders also set a 2012 summit types naked short-selling. The Dow AIG’s sale of its largest Asian life- Second Amendment right applies
to measure progress. But they industrials dropped 114.88 points, insurance arm to Britain’s Pruden- to individuals outside of a “well
stepped back from binding plans to or 1.1%, to 10510.95, and the euro tial PLC, announced in March, col- regulated militia.”
secure prescribed amounts of slumped to a four-year low. lapsed after the U.S. company said
nuclear material or convert reactors it wouldn’t agree to a lower price. 30
that use highly enriched uranium to 21 Russian Prime Minister Vladimir
less-dangerous fuel. BP suggested the oil leak is far 5 Putin ripped U.S. law enforcement
bigger than estimated. An oil Same-sex couples must be treated after a spy bust, even as his gov-
15 company spokesman said 5,000 the same as heterosexual couples, ernment acknowledged that its cit-
Chinese authorities said a severe barrels a day are being diverted to a the IRS ruled, the first time it has izens were among the 11 people
quake killed at least 600 people and tanker from a shattered pipe, but acknowledged gay couples as a charged as part of a spy operation.
injured more than 10,000 in a re- more crude continues to spew into unit for tax purposes.
mote, predominantly Tibetan com- the Gulf of Mexico.
munity in western China. 7
Scientists for the first time created BP said an oil-well cap collected
16 a synthetic cell, controlled by man- 10,500 barrels, marking a success
Ash from an eruption of Iceland’s Arizona and requires police to 6 made genetic instructions, a move after a string of failures in reduc-
Eyjafjallajökull volcano drifted across arrest those they suspect are in A market plunge sent the Dow in- that could open the way to manipu- ing the oil contaminating the Gulf
Europe, causing the largest airspace violation. Protests and legal fights dustrials almost 1,000 points lower lation of life on a new scale. of Mexico. Scientists estimated
shutdown in years and canceling an shadowed the law all year. in intraday trading. The blue chips that at least 12,000 to 19,000 bar-
estimated 16,000 of Europe’s ended down 347.80 points, or 3.2%, 22 rels a day are gushing into the
28,000 daily flights. 26 at 10520.32. An October report on An Air India Express plane crashed Gulf. Chief Tony Hayward, in an ad
Oil gushed into the Gulf after the the so-called flash crash pointed at Mangalore airport. Eight survived the week prior, promised taxpayers
The pope addressed the sex-abuse previous week’s rig disaster. The the finger at, in part, a hedge trade and 158 died in the crash, later wouldn’t foot the cleanup bill.
crisis for the first time, saying the spill some 70 miles south of the made by a large mutual fund. blamed on co-pilot error.
church should “do penance” for its Mississippi and Alabama coastline 10
“sins.” has covered 600 square miles and 10 24 The Chicago Blackhawks beat the
raised fears of a severe President Obama picked Elena Seoul pledged to block North Philadelphia Flyers to win hockey’s
Tea-party activists staged tax-day environmental hazard. The oil well, Kagan, his solicitor general, as his Korean ships from its waters and Stanley Cup, their first since 1961.
rallies nationwide. The protests, connected to the sunken drilling Supreme Court nominee. She was said trade and financial exchanges
which came a year after similar rig, continues to leak 1,000 barrels confirmed over the summer. would be halted, part of an 11
April 15 rallies put the movement a day. intensifying response to The SEC signed off on new
on the map, targeted Democratic The European Union agreed on an Pyongyang’s alleged sinking of a “circuit breaker” rules de-
Second-Quarter Rewind | Moves and milestones in the markets
The SEC charges Greece's credit crisis Dow leaps 404.71 points U.S. stocks enter correction ‘Postcard From Dow surges; China moves to
Goldman Sachs with spreads to Portugal as a as stocks world-wide rally territory amid worries Hungary’: Ofﬁcial's S&P 500 and revalue yuan, but
fraud, sending DJIA pair of ratings downgrades after the EU unveils a about global growth and as warning of a ﬁnancial Nasdaq turn stock rally ﬁzzles
down sharply on the two countries spooks nearly $1 trillion bailout an overhaul of meltdown in the positive for
investors world-wide plan for troubled ﬁnancial-sector regulation country spooks the year 11500
euro-zone economies gains traction in Congress investors, sending Dow
down 323.31 points
Average Four-day slide of 771.40
points puts Dow in the
red for the year
Dow closes above A BP-operated oil All 30 Dow ‘Flash Crash': Dow closes Dow closes below They sold in May: Stocks fall below their Dow ends ﬁrst 9500
11000 for ﬁrst time rig in the Gulf of components down 347.80 points, or 10000 for ﬁrst Dow falls 7.9% on intraday lows of the half ﬁrmly in a
since Sept. 26, 2008, Mexico explodes fall as the 3.2%, after an apparent time since the month, its May 6 ‘ﬂash crash’ correction
near the height of the and sinks, spewing index ends an trading glitch sends the February weakest May
ﬁnancial crisis oil for months up month on blue-chip index almost since 1940 9000
a sour note 1,000 points lower in
APRIL MAY JUNE
Source: WSJ Market Data Group
R12 Monday, January 3, 2011 **** THE WALL STREET JOURNAL.
YEAR-END REVIEW OF MARKETS FINANCE
July steroids scandals. by a Florida church could endanger
Spain’s Catalonia region banned U.S. troops and hurt the
1 bullfighting, in what some called a 23 Afghanistan war effort.
Google said its Web-search service blow to a symbol of Spanish Thirty-three miners in Chile,
in China was partially blocked, tradition. trapped underground since Aug. 5, 9
shortly after unveiling changes sent a message that they are alive. BP’s oil-spill report laid most of the
aimed at keeping its operating li- 31 blame on contractors. Halliburton
cense there. July became the deadliest month 24 and Transocean rejected the
ever for U.S. troops in Afghanistan Tiger Woods and his wife divorced, findings, saying the U.K. company
7 after three American soldiers were nine months after a sex scandal had the final calls and should be
Agricultural Bank of China, the last killed Friday, bringing the toll to 66. began. held responsible for the billions of
of China’s four big banks to go dollars in damage.
public, raised $19.21 billion in Hong 30
Kong and Shanghai. After exercising
August President Obama visited New Or-
overallotment options, it became the 2 6 Mining giant BHP Billiton made an leans for Katrina’s anniversary. Five
biggest IPO ever at $22.1 billion. The death toll from floods in The Lockerbie bomber was freed unsolicited $38.6 billion offer for years after the hurricane struck,
Pakistan rose to over 1,100. Res- from a Scottish prison despite a fertilizer maker Potash Corp. of the president pledged the govern-
9 cuers are struggling to reach thou- lack of evidence that his doctors Saskatchewan, a wager that ment’s commitment to help the
AIDS research yielded an advance sands more trapped. agreed he was near death. developing economies will drive up Gulf region as it seeks to recover
toward a vaccine. U.S. government demand for the world’s food supply. from the BP oil spill.
scientists discovered three powerful 4 7 The offer was pulled in November
antibodies, the strongest of which BP began trying to plug its dam- Hewlett-Packard Chief Mark Hurd after Canadian authorities sought Tens of thousands of people
neutralizes 91% of HIV strains. aged Gulf of Mexico well. The has resigned from the computer onerous terms. packed the National Mall for a rally
“static kill” involves pumping over giant after a probe into sexual organized by conservative TV per-
10 2,000 barrels of drilling fluid into harassment. Lawsuits and A federal jury convicted former sonality Glenn Beck. 10
Russian and U.S. officials completed the well in a bid to stop a spill investigations continued as the year Illinois Gov. Rod Blagojevich of lying A U.S. judge in California struck
a spy swap. Moscow deported three that’s spewed 4.9 million barrels. ended. to federal agents. U.S. attorneys down the military’s “don’t ask, don’t
former KGB officers and a nuclear said they would seek a retrial.
September tell” ban on openly gay service
scientist accused of betrayal, A New York panel denied landmark Muscovites fled their smoke-choked 20 1 members as unconstitutional.
exchanging them in Vienna for 10 status to a building near Ground city as forest fires and underground Intel agreed to buy security- President Obama formally declared
deep-cover sleeper agents arrested 11
in the U.S. late last month. The 9/11 anniversary was marked
by a memorial for victims and
13 Gulf of Mexico Oil Spill | The worst offshore spill in U.S. history dueling protests over a proposed
The U.S. issued a new ban on deep- Islamic center.
water drilling until Nov. 30, setting
up a fresh conflict with the oil Global regulators pushed through a
industry. historic remake of the world’s
banking rules, known as Basel III,
14 that aims to rein in risky activities
The FCC’s rules against indecent and curb future crises.
speech violate the First
Amendment, a federal appeals court 15
ruled, handing a major victory to Makers of high-fructose corn syrup,
broadcasters that could lead to a a ubiquitous packaged-food
new Supreme Court test of the ingredient, are asking regulators for
government’s power to control what permission to rename it “corn
is said on television and radio. sugar.”
Harvey Golub resigned as AIG’s The U.S. poverty rate rose to 14.3%,
chairman amid tensions with the a 16-year high. Median household
giant insurer’s chief, Robert income, adjusted for inflation, fell
Benmosche. Turnaround expert 4.8% between 2000 and 2009, the
Robert S. “Steve” Miller, another Census reported. Young workers
board member, will succeed him. and young families have been
particularly hard hit by the slump,
16 while Americans 65 and older saw
Congress approved an overhaul of incomes increase 5.8%. The number
financial regulation, in the biggest of uninsured climbed to 50.7 million.
expansion of government power
over banking and markets since the Japan’s central bank offered the
Depression. nation’s economy another boost by
allowing funds generated by Tokyo’s
Argentina became the first Latin currency intervention to remain in
American country to legalize gay the banking system.
Goldman Sachs agreed to pay $550 The Taliban sought to disrupt the
million to settle civil charges that it Afghan parliamentary election,
duped clients by selling mortgage kidnapping two candidates and
securities that were designed by a several electoral workers. The chief
hedge-fund firm to cash in on the U.N. envoy in Kabul said insurgents
housing market’s collapse. would try to use violence to
intimidate voters. Some 2,500
17 candidates are running for 249
Apple CEO Steve Jobs legislative seats.
acknowledged that the iPhone 4
loses signal strength when it is held President Obama gave Elizabeth
a certain way but argued the Warren the job of getting the new
problem isn’t unique to his firm’s Bureau of Consumer Financial
device. Protection up and running by July
2011. At year’s end, there were
20 signs she may not run it herself.
A gel was shown to lower the
chances of getting HIV. Women 20
who applied the antiretroviral gel BP’s Gulf of Mexico well was
before and after sex cut their risk of declared permanently sealed, but
acquiring the AIDS virus by 39%, The Deepwater repercussions from the worst
researchers said, a result hailed as a Horizon oil rig, offshore spill in U.S. history will be
“potential game changer.” shown after its felt for years.
explosion in April,
China has passed the U.S. to was declared sealed 21
become the world’s biggest in late September. The FDA moved closer to approving
consumer of energy, according to a genetically altered salmon that
IEA data. would become the first GM animal
to appear on U.S. menus.
Website WikiLeaks released 24
thousands of secret military Zero, clearing the way for a mosque peat fires covered the Russian software firm McAfee for $7.68 the Iraq combat mission over. With Blockbuster filed for Chapter 11 and
documents that appeared to to be built. Controversy followed. capital with thick smoke. billion, aiming to jump-start its U.S. troop levels now below 50,000, plans to shrink its bricks-and-
present a bleak view of the effort to move its technology the president marked the end of mortar business in favor of mail-
Afghanistan war. 5 13 beyond computers. Operation Iraqi Freedom, launched order and digital distribution.
BP said its operation to plug the GM said Daniel Akerson will take by President George W. Bush, and
27 Gulf oil well was a success. The over as CEO from Edward Pitching great Roger Clemens the start of a military-assistance 28
BP’s board approved Robert Dudley White House said most of the Whitacre, as the auto maker, which was indicted for perjury over his mission. North Korea’s Kim Jong Il signaled a
as CEO, after Tony Hayward was spilled oil is gone; critics reacted posted a $1.3 billion profit, prepares 2008 testimony to Congress in the bid to keep family control. The
ousted amid criticism over his with skepticism. to go public again. 3 isolated country’s leader named his
handling of the Gulf oil spill. Hewlett-Packard third son and his sister senior
California’s ban on same-sex 14 trumped rival Dell generals amid speculation he is
29 marriage was overturned. A Russia will load fuel into Iran’s with a $2.1 billion making plans to transfer control of
A judge blocked key parts of federal court in San Francisco nuclear-power plant, marking a offer for 3PAR, the authoritarian regime when he
Arizona’s immigration law, most ruled that the state’s voter- crucial final step in making Tehran a ending a 10-day dies. The appointments were
notably a requirement that police approved Proposition 8 violated nuclear power. bidding war for the announced hours before the start
check the immigration status of constitutional guarantees to equal maker of data- of the biggest meeting of the ruling
people stopped for such routine protection and due process 18 storage systems. Workers’ Party in 30 years.
infractions as traffic violations, if because it singles out gays and Sports-related head injuries were
police suspect they are in the U.S. lesbians for denial of a marriage linked in a new study to signs of a 7 The proportion of people in the U.S.
illegally. Arizona Gov. Jan Brewer license. An appeals-court decision brain condition similar to Lou Gen. David Petraeus aged 25 to 34 who were single in
vowed “to battle all the way to the remained up in the air as the Gehrig’s disease. said a planned 2009 exceeded those who were
Supreme Court, if necessary.” year ended. burning of Qurans married for the first time ever.
Third-Quarter Rewind | Moves and milestones in the markets Dow notches best
Sept. 12 (a Sunday) quarter up 10.4%
European banks largely pass BP claims success Dow, S&P 500 and Japan's Nikkei slips Dow falls 4.7% The world's Japan spends
a round of government in capping the Gulf Nasdaq tumble into red into bear market; on the month, central bankers $20 billion to
stress tests; U.S. bank oil well that spewed for the year as two-year Treasurys the index's lay out new bank weaken its yen 11500
failures top 100 for the oil since April investors shed risk as settle at their worst August in rules, known as
second consecutive year growth worries ﬂare up lowest yield ever nearly a decade Basel III, that
Dow Jones ratchet up capital
requirements 24 27 28 29 11000
Industrial Average 20 21 22 23 30
2 3 4 5 6 9
10 16 17
26 27 28 29 30 13 14 15
23 3 10
Dow reclaims 13 14 15 11 12 17 18
7 8 9 10500
22 13 16 19 1 2
10000 9 12 20 21 20 23
8 16 19 27
7 24 25 26 30 31
Congress approves the Dow gains 7.1% Wheat prices surge 8% BHP makes Dow closes below Dow jumps U.S. poverty rate hits Gold closes
largest ﬁnancial-regulation for July, its best after Russia announced unsolicited $38.6 10000 for the 254.75 points in 14.3%, a 16-year high; above $1,300
Agricultural Bank of
overhaul since the month in a year ban on grain exports billion bid for ﬁrst time since best September silver climbs to $20.7450 for the ﬁrst 9500
China goes public,
Depression; Goldman Sachs Potash Corp. of early July and, as opening since an ounce, the highest time
agrees to pay $550 million Saskatchewan it would turn out, 1998 point since 1980
the biggest IPO after
to settle fraud charges the last time in
raising $22.1 billion
leveled by the SEC in April 2010 9000
JULY AUGUST SEPTEMBER
Source: WSJ Market Data Group
THE WALL STREET JOURNAL. Monday, January 3, 2011 R13
YEAR-END REVIEW OF MARKETS FINANCE
Remembrances: Elizabeth Edwards, 61,
campaigner and adviser
whose battle with
2010’s Deaths cancer and family
travails drew sympathy.
Robert Byrd, 92, the longest-serv-
11 ing U.S. senator in history and a
Miep Gies, 100, Dutch secretary master of the Senate process.
who defied Nazis to hide Anne
Frank and her family. July
Teddy Pendergrass, 59, R&B George Steinbrenner, 80, owner of
singer paralyzed by a car crash, of the New York Yankees.
Glen Bell Jr., 86, founder of Taco 9
Bell eateries. Ted Stevens, 86, former Alaska
senator whose career was marred
27 by a corruption conviction that
J.D. Salinger, 91, reclusive creator was later voided, in a plane crash.
of Holden Caulfield, the rebellious He survived a 1978 plane crash.
archetype and arch-enemy of pho-
nies in ‘The Catcher in the Rye.’ September
Eddie Fisher, 82, singer whose
fame for No. 1 songs in the ‘50s
was overshadowed by his celebrity
Tony Curtis, 85, actor in films like
“Some Like It Hot.”
Stephen J. Cannell, 69, writer-pro-
Go farther. ®
ducer of dozens of TV series, in-
cluding “The A-Team.”
Tom Bosley, 83, stage and TV ac-
February tor famed for his role in “Happy
Rep. John Murtha, 77, a powerful 20
advocate for the military and his Bob Guccione, 79, Penthouse mag-
Alexander Haig, 85, ex-secretary
of state, general, adviser to three
presidents, who famously and
Néstor Kirchner, 60, former presi-
dent of Argentina seen by many
as the power behind his wife’s
wrongly declared himself acting government.
president after 1981 assassination
attempt on President Reagan. 31
Theodore Sorensen, 82, speech-
writer and counsel for President
Viktor Chernomyrdin, 72, Russian
premier during the post-Soviet
“Sparky” Anderson, 76, baseball
manager who led Cincinnati and
Detroit to victories in the World
Leslie Nielsen, 84, star of movie
spoofs including “Airplane” and the
“Naked Gun” series.
Peter Graves, 83, star of the TV
series “Mission Impossible” and
news for Janus
Juan Antonio Samaranch, 89, In-
ternational Olympic Committee
head who transformed the Games.
Elizabeth Post, 89, successor to
Emily Post as nation’s etiquette
May “The S&P mutual fund research methodology was developed
to provide a more holistic view of mutual funds by analyzing
2 a broad range of factors that include risk-reward proﬁle,
Lynn Redgrave, 67, actress and
member of the famed British the- costs, manager tenure, and the quality of underlying holdings,
atrical dynasty. December in addition to performance.”
Todd Rosenbluth, Senior Director and a mutual fund analyst at S&P Equity Research
Ernie Harwell, 92, Detroit Tigers Ron Santo, 70, longtime Chicago
broadcaster. Cub and later passionate radio an-
Robin Roberts, 83, Hall of Fame 5 Janus Triton Fund received the Gold Award for Domestic Equity
pitcher primarily for the Philadel- Don Meredith, 72, Cowboys quar- Small Cap mutual funds in the S&P Mutual Fund Excellence
phia Phillies. terback turned commentator noted Awards. Janus is committed to our disciplined investment
for “Monday Night Football” work. process, across every product, to help deliver the performance
9 our investors deserve.
Lena Horne, 92, jazz singer and ac- 13
tress who broke racial barriers. Richard Holbrooke, 69, American Contact your ﬁnancial advisor to learn more about investing
diplomat who helped broker an with Janus.
26 end to the Bosnian war.
Art Linkletter, 97, TV show host.
Gary Coleman, 42, the child star of
1970s TV sitcom “Diff’rent
29 Please consider the charges, risks, expenses and investment objectives carefully before investing.
Dennis Hopper, 74, actor famous
For a prospectus containing this and other information, please call Janus at 877-33JANUS (52687)
for work in films like “Easy Rider
and “Apocalypse Now.” or download the ﬁle from janus.com/reports. Read it carefully before you invest or send money.
Past performance is no guarantee of future results. Visit janus.com/advisor for current month-end performance.
Janus Triton Fund T Shares for the period 9/12/09-8/31/10. To qualify for an S&P U.S. Mutual Fund Excellence Award the fund must
June be open to retail investors with a minimum initial investment of $25,000 or less. Analyzed weekly, the fund must have had an overall
S&P ranking of ﬁve-star with positive indications for Performance Analytics, Risk Considerations and Cost Factors. S&P evaluates
European Pressphoto Agency
3 the underlying holdings of funds as measured by S&P STARS Equity Research, S&P Credit Rating, S&P Quality Ranking and S&P
Rue McClanahan, 76, star of “The Fair Value Ranking. Funds that are sector or regional focused along with Target Date funds were not considered for awards. Three
Golden Girls.” funds with the highest consistency score in each award category were declared Gold, Silver and Bronze.
4 As with all investments, there are inherent risks that individuals would need to address. Investments in small
John Wooden, 99, coach who won and mid-sized companies may experience greater price volatility.
10 basketball titles in 27 years at Funds distributed by Janus Distributors LLC (11/10)
Jimmy Dean, 81, country music Bob Feller, 92, Hall of Fame fast-
singer and sausage entrepreneur. baller for the Cleveland Indians.
R14 Monday, January 3, 2011 **** THE WALL STREET JOURNAL.
YEAR-END REVIEW OF MARKETS FINANCE
October succeed Hu Jintao as president 7 tax credit and lowers the estate-
1 and party leader. 4 A man was found guilty of The Treasury sold the last of its tax rate for the wealthy.
The Fed said it will buy $600 murdering Washington intern Citigroup common shares in a
The U.S. will sell off its AIG stake 20 billion of Treasurys over the next Chandra Levy in 2001. $10.5 billion offering that capped 20
under a plan that could end the The U.S. military is accepting openly eight months in a bid, known as the U.S.’s biggest bank bailout of Congress has repealed ‘Don’t Ask,
bailout sooner than thought but gay recruits for the first time ever, quantitative easing, to rev up the Political consultant Hank Morris the financial meltdown. Taxpayers Don’t Tell,” but the task of lifting
which involves selling at least $50 even as it tries to slow a move to economy. pleaded guilty to a felony in will reap a $12 billion profit on the the ban against gays serving
billion of shares to private end its “don’t ask, don’t tell” policy. connection with the New York $45 billion investment in the bank. openly in the military would likely
investors over months or years. 10 “pay-to-play” pension-fund case. take months, of-
21 Google is giving all of its 23,000 President Obama ficials said.
White House chief of staff Rahm Astronomers have spotted the employees a 10% raise effective in 24 announced a tax deal
Emanuel left for Chicago to run for oldest galaxy ever seen, born 13.1 January. The move is aimed at North Korea fired on a South with GOP leaders that 22
mayor and, after a period where billion ago, the journal Nature stanching defections. Korean island near a disputed would extend the Deutsche Bank
his residency was called into reported. maritime border, setting fire to Bush cuts, reduce agreed to pay
question, was ruled free to do so. 15 homes and buildings and killing payroll taxes for a $553.6 million
26 Myanmar pro-democracy leader two marines. U.S. officials year, extend jobless and admitted
North Korea released the first Warren Buffett tapped a little- Aung San Suu Kyi said she will increasingly believe Kim Jong Il’s benefits and set the criminal
public images as an adult of Kim known hedge-fund manager, Todd continue pushing for change, a day military adventures are aimed at estate tax at 35%. wrongdoing to
Jong Eun, the heir apparent of Combs, as the leading candidate to after being released house arrest. guaranteeing the transfer of power settle a long-
dictator Kim Jong Il, his father. succeed him as the chief to his son, Kim Jong Eun. 8 running probe
H-P chose industry veteran Leo investment officer of Berkshire 16 WikiLeaks founder over fraudulent
Apotheker, a former chief of Hathaway. Senate Republicans agreed on a 29 Julian Assange was tax shelters.
German enterprise-software maker plan to ban party members from The U.S. sought to limit fallout denied bail following
SAP, to be its new chief executive. 27 proposing earmarks for spending from WikiLeaks’ release. The his U.K. arrest on sex-assault The University of Connecticut’s
A tsunami struck Indonesia, and bills, in a victory for tea-party ac- publication of State Department allegations from Sweden. He was women’s basketball team posted
6 volcano Mount Merapi began to tivists. cables detailed a push by released on bail later in the month. its 89th straight win, eclipsing the
A former trader for Société UCLA men’s streak of the early
Générale, Jérôme Kerviel, received 1970s. UConn’s streak ended at 90
three years in prison and was with a loss to Stanford.
ordered to repay more than $6 Chile Mine Rescue | Thirty-three miners emerge after 69 days underground
billion for his role in one of the The total U.S. population is now
world’s biggest trading scandals. 308,745,538, according to the 2010
census, up 9.7% from 2000. That
7 is the slowest growth rate since
The Obama administration was the decade of the Great Depres-
slow to react to the Gulf of sion, mainly a reflection of lower
Mexico oil spill, a panel reviewing immigration during the 2007-09
the disaster said. Investigators also recession. America’s once-a-decade
said the administration gave too head count gives Republican-lean-
much credence to initial estimates ing states 11 more House seats.
that just 1,000 barrels of oil a day
were flowing from the well. The Federal Communications Com-
mission voted 3-2 to back Chair-
Philadelphia Phillies pitcher Roy man Julius Genachowski’s plan for
Halladay pitched just the second what is commonly known as “net
no-hitter in baseball postseason neutrality,” or rules prohibiting In-
history. During the regular season, ternet providers from interfering
he threw a perfect game. with legal Web traffic. President
Obama said the FCC’s action will
8 “help preserve the free and open
The “pay to play” scandal yielded a nature of the Internet.” The new
guilty plea from former New York framework could also result in
State Comptroller Alan Hevesi. tiered charges for Web access and
alter how companies profit from
9 the network.
Jailed Chinese dissident Liu Xiaobo
won the Nobel Peace Prize, 23
angering China. Beijing warned The Senate ratified a strategic-
that the decision would harm arms pact with Russia. Thirteen
relations with Norway, home of Senate Republicans joined with
the prize committee. President Democrats to pass New Start
Obama urged China to free Mr. Liu, 71-26, more than the two-thirds
who in December was awarded tally needed for ratification.
the prize in absentia. Defense officials said the treaty,
erupt, hampering aid work. More Washington for a global consensus which cuts deployed arsenals by a
12 than 400 people died. 17 to confront Iran, including Arab 9 third, will restart bilateral weapons
A coalition of as many as 40 state Body scanners in airports are support for the effort. U.S. Sixteen billionaires became new inspections and set the stage for
attorneys general is expected to 30 meeting with growing resistance. lawmakers denounced WikiLeaks, signatories to the “Giving Pledge,” additional arms pacts. President
announce an investigation into the Officials intercepted two U.S.- Pilots warn of radiation and some with a top Republican calling for agreeing to donate the majority of Obama said passage of New Start
mortgage-servicing industry, as bound packages laden with protesters are calling for a boycott. the arrest of the website’s founder. their wealth to charity. and other legislative priorities
four major servicers suspended explosives in cargo planes from The Transportation Security showed, “we’re not doomed to
foreclosures amid irregularities. Yemen, at a time when the U.S. Administration said the scanners Europe sealed a $90 billion bailout 13 endless gridlock.” Congress also
and Europe are tracking multiple and pat-downs aren’t going away. of Ireland and crafted a blueprint A&P filed for bankruptcy passed legislation to provide
13 suspected terror plots. for rescues from 2013 on that protection. The troubled grocer, health-care aid to 9/11 first
Miners who had been trapped in The House ethics panel found Rep. could have private-sector creditors which also owns Waldbaum’s, Food responders.
a Chilean mine in a 69-day ordeal Charles Rangel (D., N.Y.) guilty of bearing some of the cost. Emporium, Super Fresh, Food
began reaching the surface in a
November 11 violations, including failure to Basics and Pathmark, has been 28
specially made rescue capsule. report assets, and voted to The Madoff trustee filed 40 hobbled by a crushing debt load Iraq Prime Minister Nouri al-Maliki
1 censure him. The full House voted lawsuits, including 22 against and competition from low-price insisted U.S. troops must be out of
The White House lifted its ban on Cablevision and News Corp. on 333-79 to impose the rarely used relatives of the convicted felon and rivals. Iraq by the end of 2011, saying his
deep-water drilling in the Gulf of Saturday ended a two-week punishment. his wife, aiming to recover $69 government was able to handle
Mexico. standoff over fees for Fox million for investors. The suits Mark Madoff, who committed suicide any security threats. Baghdad will
programming. Britain’s Prince William announced came amid a looming legal Dec. 11, was feeling increasingly tackle any obstacles facing foreign
14 he will marry longtime girlfriend deadline as the two-year despondent about his worsening oil firms, he said, emphasizing the
Foreclosure crisis and robo-signers: 2 Kate Middleton. anniversary of the Ponzi scheme’s legal situation in the days before he need for oil revenue.
J.P. Morgan widened a review of The San Francisco Giants won demise approached. took his life, his friends say.
its foreclosure practices to 41 baseball’s World Series, beating 18 A Russian court found oil tycoon
states. Fannie and Freddie are the Texas Rangers 4 games to 1. House Democrats elected Nancy 30 14 Mikhail Khodorkovsky guilty of em-
reviewing the work of a Florida Pelosi to lead the party in a vote The financial rescue will cost U.S. A federal judge in Virginia ruled bezzlement, a verdict the U.S. con-
law firm they recommended to 3 that laid bare Democratic divisions. taxpayers $25 billion, the CBO said, that the provision in the new demned as “an abusive use of the
process foreclosures. The GOP took the House; John Boehner was chosen to lead a sharp drop from earlier health-care law requiring legal system.”
Democrats held the Senate. House Republicans, making him estimates. Americans to buy insurance is
16 Republicans, who needed to the likely next speaker. unconstitutional. 30
Countrywide co-founder Angelo capture 39 Democratic seats in the Steven Rattner settled the “pay to
Mozilo agreed to pay $67.5 million House, reversed four years of A key gauge of U.S. inflation has Ukraine is working on a plan to play” scandal by paying $10 million,
to settle the SEC’s civil suit. Democratic gains, handing John fallen to its lowest level since open Chernobyl, the site of the ending a bitter standoff with New
Boehner the speaker’s gavel. record-keeping began in 1957. world’s worst nuclear accident, to York Attorney General Andrew
19 Republicans won gubernatorial visitors. Cuomo (now New York’s governor).
China’s Communist Party named races coast to coast, but 19 Earlier, Mr. Rattner, the former
an heir apparent. President Xi Democrats triumphed in New York General Motors made its return 15 Obama administration auto czar,
Jinping was appointed to a key and California. ( Marco Rubio, R., to the stock market after a Iraq’s ex-Premier Ayad Allawi, who settled an SEC suit over his
military post, making him likely to Fla., won a three-way Senate race.) government-led turnaround that leads a Sunni party, agreed to join alleged role in the scandal,
proved far more successful than a Shiite-led government headed by agreeing to pay $6.2 million and
many had expected. a rival. accepting a two-year ban on
December associating with any investment
20 16 adviser or broker-dealer.
NATO leaders agreed to expand a 2 A warning signal from ratings firm
U.S. missile defense system to The Fed released details on Moody’s rekindled worries about The Buzziest Words of the Year:
cover all the alliance’s territories in trillions of dollars of loans made Spain’s ability to service its debt. Flash crash, tea party, vuvuzela.
Europe. Though the initial aim is to during the financial crisis,
deal with potential threats from disclosing the breadth of its 17 31
Iran, the leaders wouldn’t name lending to an array of U.S. Congress approved far-reaching tax The Dow Jones industrials rose
specific countries in the accord. businesses and foreign banks. legislation, which was signed by 1,149.46 points, or 11%, to
President Obama the next day. 11577.51 on the year, ending a
European Pressphoto Agency
23 Waters off the East Coast won’t The House overcame persistent volatile 12 months that saw
Iran’s parliament wanted to be opened to drilling. The eastern liberal opposition and passed it multiple periods where it was in
impeach President Mahmoud Gulf of Mexico will also stay off- with an unexpectedly large the red, a correction and two dips
Ahmadinejad but refrained under limits, in a reversal from the bipartisan majority of 277-148. The below 10000. The S&P 500
orders from Ayatollah Ali Obama administration, The move measure retains Bush-era tax rates ended up 13%, the Nasdaq gained
Khamenei, according to Iranian was denounced by the oil industry for two years, extends jobless 17% and the Russell 2000 index
lawmakers. but lauded by environmentalists. benefits, gives workers a payroll- of small-cap stocks leapt 25%.
Fourth-Quarter Rewind | Moves and milestones in the markets Dow falls 7.87 points shy of closing at year’s
high, rising 1,149.46 points, or 11%, to
Third-quarter stock 11577.51; gold and copper end at record
AIG raises $17.8 billion in the initial Dow climbs 3.06% The Dow industrials leaps 219.71 points, General The Dow ends
gains came as trading highs; oil gains 15% and Treasurys rise
public offering for AIA, its Asian for the month, or 2%, to 11434.84, returning to a level Motors November
Dow Jones from
volume fell 25% life-insurance arm, and is on track to its best October last seen just before Lehman’s collapse goes public down 1% 21 22 23 27 28
Industrial 4 5 8 9 10 13 14 15 16 17 20 11500
the second quarter pull in as much as $20.6 billion since 2006
2 3 6 7 8 9 10
Average 11 1
25 26 27 28 29 1 2 12 15 18 19 22 24
13 14 15 18 19 20 21 22 16 17 23 26 29 30
5 6 7 8 11 12
1 Gold tops $1,400 11000
4 for ﬁrst time
Dow closes above Cotton prices touch their highest Election ends The Fed says it will BHP withdraws Europe seals $90 billion Gold settles at The DJIA rises Congress approves 10500
Treasury for ﬁrst level since Reconstruction as bad with GOP buy $600 billion of bid for Potash bailout of Ireland, but a record 40.26 points, far-reaching tax
yield closes May harvests and demand from China taking the U.S. government Corp. of contagion worry $1,415.30 a ending a legislation,
at record spark worries of a shortfall House and bonds over the next Saskatchewan continues to plague troy ounce and streak of ﬁve retaining Bush-era
low of Democrats eight months in a some euro-zone silver hit a consecutive tax rates for two 10000
0.407% holding the bid to rev up the members 30-year high of sessions in years
Senate economic recovery Nov. 28 (a Sunday) $29.705 an which the
than 20 points,
such stretch 9000
OCTOBER NOVEMBER DECEMBER
Source: WSJ Market Data Group