Free fallin' -- only four out of 500 in S&P 500 holding gains

Posted by: Aaron Pressman on September 29, 2008

It’s an across-the-board massacre in the stock market after the House of Representatives voted down the Paulsen bailout plan. I just took a spin through all 500 components of the Standard & Poor’s 500 Index and only four stocks are up on the day. It’s a mixed bag:

Campbell Soup (Symbol: CPB), which increased its dividend and stock buyback plan a few days ago.

Consolidated Edison (ED), utilities overall are holding better and somebody must like getting paid a yield of over 5%.

Edison International (EIX), another utility.

Biogen IDEC (BIIB), on no new news

And that’s all folks. Ouch.

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About

Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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