The Dow Jones industrial average reached a milestone today in Wall Street’s near seven-year recovery from corporate upheaval, economic recession and terrorism, briefly trading above its record high close of 11,722.98 set on January 14, 2000.

Declining oil prices and weakness in other commodities sent stocks lower today, as investors took profits and beat up the stocks that led Wall Street’s early January rally.

Stocks extended their losses into a second day today after a cautious outlook from home builder Toll Brothers Inc. and a surge in energy prices rattled investors.

PORSCHE plans to buy 20% of Volkswagen’s shares to prevent a hostile takeover of Europe’s largest carmaker and strengthen the companies’ partnership.

Stocks slumped in the United States today as the Bush administration said the country’s economy would likely grow at a slower pace than forecast six months ago – an assessment that eclipsed positive corporate news and lower oil prices.

A late rally fed by falling oil prices pushed US stocks higher today, although Wall Street’s mood remained tentative amid uncertainty about the economy.

US Stocks tumbled sharply on Wall Street today as rising crude oil prices prompted Delta Air Lines to warn of possible bankruptcy and the rumour mill chewed over the possibility of hedge fund losses due to steep investments in troubled vehicle manufacturer General Motors.

Jittery investors sent stocks lower on Wall Street today as the downgrade of bonds issued by General Motors and Ford undermined the market’s confidence and erased its earlier modest gains.

US stocks closed higher today as investors were emboldened by decent earnings, a handful of mergers and billionaire investor Kirk Kerkorian’s bid to substantially add to his stake in General Motors.

Japanese electronics giant Sony is to buy Hollywood studio MGM for nearly £1.7bn (€2.5bn).

Sony is staying tight-lipped over reports that Time Warner is bidding for Metro-Goldwyn-Mayer, according to hemscott.com.