The Dow Jones Industrial Average had lost more than 130 points at midday, falling 0.99 percent to 13,540.31 after Merrill Lynch (NYSE: MER; TYO: 8675) said that it had written down $7.9 billion in the third quarter, over $2 billion more than it had said that it would have to write off earlier, for a net loss of $2.3 billion in the quarter.

In addition the National Association of Realtors said that existing home sales were down again in September, falling 8 percent during the month for the biggest decline since 1999 and much more than the 4.5 percent that had been expected.

The weak sales sent the median price for an existing home 4.2 percent lower than last year at the same time.

The Nasdaq Composite, meanwhile, was down 1.93 percent to 2,745.37 and the S&P 500 dropped 1.3 percent to 1,499.79.

In the technology sector Intel (NAS: INTC; SEHK: 4335) was $1.08 lower to $25.72 after Broadcom (NAS: BRCM) issued a worse than expected quarterly report Tuesday.

Broadcom was $7.51 lower to $34.55.

Banks took the Merrill Lynch news hard.

Bank of New York (NYSE: BNY) was $1.30 lower to $46.18, while Bear Stearns (NYSE: BSC) was down $4.13 to $112.04.

Internet retailer Amazon (NAS: AMZN) dropped $15.32 to $85.50 even though it reported that its profits in the quarter more than quadrupled.

Wall Street suffered big losses in early afternoon trade on Thursday.

At just past 1:30 p.m. in New York, the Dow Jones Industrial Average was down 290 points, or 2.11 percent, to 13,494.46, while the Nasdaq Composite had lost 2.32 percent to 2,586.65 and the S&P 500 was 2.35 percent lower to 1,482.47.

The declines were largely fallout from more bad news on the housing market and on higher oil prices.

The Commerce Department released new data showing that new home sales were down 6.6 percent in June to an annualized rate of 834,000 units.

Homebuilders declined on the new figures.

DR Horton (NYSE: DHI) was 3.03 percent lower to $16.95, while Beazer Homes (NYSE: BZH) was down 11.21 percent to $15.13 and WCI Communities Inc (NYSE: WCI) had fallen 20.67 per cent to $8.98 by early afternoon.

Banks were also lower, feeling the effect of the ongoing concerns over the subprime mortgage sector.

Bank of America (NYSE: BAC; TYO: 8648) was down 80 cents to $47.13, while JP Morgan Chase (NYSE: JPM; TYO: 8634) dropped $1.51 to $43.76, Citigroup (NYSE: C) was $1.95 lower to $47.26 and Merrill Lynch (NYSE: MER; TYO: 8675) fell $3.57 to $74.53.

At the same time of day there were a few gainers.

Ford Motor (NYSE: F) had added 25 cents to $8.22 on a report that it had returned to profit in the second quarter, while consumer goods group Procter & Gamble (NSYE: PG) was 52 cents higher to $63.50.

On the Nasdaq, Amazon.com (NAS: AMZN) was 16 cents higher to $86.34, while Apple (NAS: AAPL) had gained $8.09 to $145.35.

Because of the big losses on the day, the New York Stock Exchange imposed trading curbs aimed at stopping large-block sales when shares are falling.

Wall Street was higher in midday trade on Wednesday after an up-and-down morning on nerves from Tuesday’s declines and news that existing home sales were down by 3.8 percent in June.

The Dow Jones Industrial Average was 0.38 percent higher at mid-session to 13,769.71 after gaining as much as 100 points at one point and losing up to 30 points at another in morning trade.

The Nasdaq Composite was 2,647.27, up 0.28 percent, while the S&P 500 had added 0.36 percent to 1,516.51.

There were notable gains, however.

Pharmaceutical group Merck (NYSE: MRK) added $1.61 to $53.33 after it said it would buy NovaCardia (NAS: NCAR), a clinical-stage pharmaceutical firm that specializes in cardiovascular disease.

In the aerospace sector, Boeing (NYSE: BA; TYO: 7661) gained $3.56 to $107.36 after it reported that it earned $1.35 per share in the second quarter, higher than the earnings of $1.16 per share that had been anticipated.

The internet sector was mixed after Amazon.com (NAS: AMZN) said that its earnings in the second quarter were 19 cents per share, up from 5 cents per share in the same quarter last year.

The report brought upgrades - from “neutral to “outperform” from Credit Suisse (NYSE: CS; SWX: CSGN) and from “accumulate” to “buy” from ThinkEquity, which also raised Amazon’s target share price from $80 to $105.

Amazon was up $17.75 to $87 in early afternoon trade.

Other gainers in the sector included Yahoo (NAS: YHOO), which gained 9 cents to $24.93 and eBay (NAS: EBAY), which was 56 cents higher to $33.62.

Google (NAS: GOOG; LSE: GGEA), however, dropped $3.99 to $510.01.

Wall Street equities markets were mixed at midday on Friday but looked poised to close higher for the week. The Dow Jones Industrial Average was 0.2 percent lower at noon to 12,646.20 but still 1.3 percent higher for the whole week. The Nasdaq Composite was 0.1 percent higher at mid-session at 2,470.93, a gain of 1.5 percent on the week, while the S&P 500 was even on the day so far but up 1.7 for the week at 1,445.75. The Russell 2000 index of mid-caps was 2.7 percent higher on the week at lunchtime, having breached the 800 level for the first time in its history.

Bids news was in focus. Bristol Myers Squibb added 9.4 percent over the week to $28.67 on bids talk, while newsprint producers Abitibi-Consolidated and Bowater announced that they would merge. The announcement sent Abitibi 20.4 percent higher to $3.18, while Bowater gained 24.3 percent to $27.53.

US Airways withdrew its bid for Delta Air Lines, which is currently in bankruptcy protection. The bid was rescinded after some of Delta’s unsecured creditors objected to the deal. US Airways added 10.3 percent on the week to $57.50, helped by a quarterly report that showed it had returned to profitability in the fourth quarter.

Earnings news also had an effect on the markets this week. Biopharmaceuticals company Gilead Sciences gained 13.2 percent over the week to $71 on a better than expected earnings report, while Boeing gained 5.9 percent on the week to $90.48. But just doing better than had been anticipated did not necessarily mean gains. While it gained 1.7 percent during the week, Amazon was 3.2 percent lower to $37.47 on concern over margins even though it beat estimates. Meanwhile, 3M dropped 6.1 percent to $73.92 even though it did better than expected when it said that slow growth in the world economy could hurt its results this year.

Wall Street saw gains by midday on its first trading day of the new year, as the Dow Jones Industrial Average was up 0.9 percent to 12,575.06. The Nasdaq Composite was 1.5 percent higher to 2,454.23, while the S&P 500 added 0.7 percent to 1,428.15. At one point during morning trade, the Dow hit a new intra-day record of 12,580.35. Helping gains was a new manufacturing survey which was higher than had been anticipated.

Brick and mortar retailers were up, with Wal-Mart 3 percent higher to $47.59 and Home Depot gaining 3.3 percent to $41.50 on the news that its CEO was parting ways with the company. On the other hand, internet retailer Amazon dropped 1.3 percent to $38.95 after Citigroup issued a downgrade from “hold” to “sell”.

Tech-related stocks were up. Internet search engines saw gains. Yahoo added 2.6 percent to $26.19, while Google gained 2.9 percent to $474.02. In the telecommunications sector, meanwhile, Verizon was 2.9 percent higher to $38.33. In other computer-related gains, Cisco added 2.3 percent to $27.95 and semiconductor manufacturer Intel was 2.9 percent higher to $20.84. Computer maker Dell was 3.8 percent higher to $26.03.

Declines in crude oil prices sent ExxonMobil shares down by 2.4 percent to $74.77.

The New York equities markets were up slightly at midday as investors returned from the Christmas holiday weekend, but trade was light with many expected to remain on holiday all week. The Dow Jones Industrial Average was 0.31 percent higher to 12,381.27, while the Nasdaq Composite had added 0.32 percent to 2,408.75 and the S&P 500 was up 0.29 percent to 1,414.89. The Russell 2000 index of small-caps was 0.72 percent higher, to 786.41.

The oil sector was higher. ConocoPhillips added 32 cents to $71.37, while Chevron gained 42 cents to $73.15. Anadarko Petroleum was 55 cents higher to $42.69 after it said it will sell two of its gas fields in Louisiana, part of its plan to sell assets to lower its debt after purchasing Kerr-McGee and Western Gas Resources earlier in the year. ExxonMobil, meanwhile, was up 56 cents to $75.96.

Retail was mixed but mostly lower. In late morning trade, department stores were lower. Federated Department Stores dropped 0.2 percent to $38.03, while Kohls fell 0.7 percent to $69.30 and J. C. Penney was 1.3 percent lower to $78.54.

Other retailers were also down. Discount retailer Target dropped 0.6 percent to $56.98, while consumer electronics retailer Best Buy was 1.5 percent lower to $49.19. By midday, however, Wal-Mart had gained 28 cents to $45.82 after seeing declines earlier.

Internet shopping sites were mixed, with eBay gaining 0.8 percent to $30.45. Amazon, on the other hand, had dropped 1.6 percent to $39.58.

The New York equities markets were mixed in early afternoon trade on Tuesday. The Dow Jones Industrial Average was 0.02 percent higher to 12,118.91, while the Nasdaq Composite had dropped 0.4 percent to 2,342.22 and the S&P 500 was 0.1 percent lower to 1,375.57. The activity was a result of several factors, including a lack of new economic data, earnings reports that were not up to par, and unwillingness to commit ahead of the Federal Reserve’s newest interest rate decision, due Wednesday.

Texas Instruments dropped 2.9 percent to $30.97 on a quarterly report that did not meet expectations and on a disappointing prediction for fourth quarter results. Kraft Foods likewise issued a quarterly report that did not satisfy, and was in consequence 3.8 percent lower to $34.91. Even though Whirlpool’s earnings were a bit better than had been anticipated, it cut its prediction for unit shipment growth in North America. The appliance maker saw shares fall 3.9 percent to $85.86.

Not all the quarterly reports were disappointing. DuPont produced a good quarterly report and added 1.8 percent to $46.28. Lucent, which is being purchased by French telecommunications equipment maker Alcatel, added 7.7 percent to $2.52 on better than expected earnings.

Qualcomm was 3.1 percent lower to $36.91 on rumors that the patent case it filed against Nokia could be in for another look by the courts. Meanwhile, Intel added 1.1 percent to $21.69.

Amazon.com added 1.8 percent to $33.46 ahead of its quarterly report, due after the close of trade.

Wall Street was up at midday on Friday and looked to be ready to end the week at its highest levels in three months. The Dow Jones Industrial Average was 0.7 percent higher on the day so far and 1.6 percent higher for the week to 11,465.51. The Nasdaq Composite had added 0.5 percent on the day and 2 percent on the week to 2,194.21, while the S&P 500 was 0.6 percent higher to mid-session and up 1.2 percent on the week to 1,310.94.

The semiconductors sector saw significant gains during the week. Intel added 5.3 percent to $19.90 on an upgrade from “market perform” to “outperform” from Friedman Billings Ramsey. Meanwhile, LSI Logic gained 8 percent to $0.86 and PMC Sierra was 9.8 percent higher to $6.73.

Retailers were also up. Discount retailer Family Dollar was up by 10.8 percent to $26.12 on higher than anticipated sales in August and an improved fourth-quarter guidance. Nordstrom had its best week in more than a year, adding 11.7 percent to $38.02.

Internet stocks did well. Ebay was 11.1 percent higher to $28.11 on an announcement of an advertising agreement with Google. Amazon gained 12.8 percent to $31.63.

Losers on the week included the oil and telecommunications equipment sectors. Ciena, which manufactures networking equipment, dropped 4.6 percent to $3.95, while JDS Uniphase was 11.2 percent lower to $2.29.

In the oil sector, Marathon Oil fell 8.5 percent to $84.26, while Sunoco dropped 6.4 percent to $72.39.

Dropping crude oil prices put investors in a better mood, sending the New York equities markets up at the mid-point of the session on Monday. The Dow Jones Industrial Average gained 0.6 percent to 11,355.13, while the Nasdaq Composite was 0.9 percent higher to 2,159.29. The S&P 500 also added 0.6 percent, to 1,302.33.

Oil prices, which fell after weather forecasters said it was not likely that tropical storm Ernesto would hit any oil facilities in the Gulf of Mexico, sent shares in oil companies lower. Occidental Petroleum was 1.6 percent lower to $52.58, while Valero Energy dropped 2.3 percent to $60.98.

Internet stocks were up on the day. Google and Ebay both advanced after the two companies said that they would collaborate on advertising. Google added 1.6 percent to $379.34, while Ebay was 2.1 percent higher to $25.82. Elsewhere in the sector, Amazon advanced by 3.2 percent to $28.92 on news of a stock buy-back worth $500 million.

In other computer related sectors, chipmaker Intel gained 1.8 percent to $19.23 and Dell Computer added 2.1 percent to $22.21.

Package delivery company FedEx was up 2.1 percent to $101.23 after it reached a provisional agreement for a four-year contract with its pilots’ union over the weekend.

Wall Street was down on Monday as crude oil prices were once again on the rise as worries grew once again over Iran’s insistence on continuing its nuclear development program. The Dow Jones Industrial Average ended the session 0.3 percent lower to 11,345.05, while the Nasdaq Composite dropped 0.8 percent to 2,147.75 and the S&P 500 declined by 0.4 percent to 1,297.52.

Nearly the only sector that the higher oil prices helped was the oil sector itself. ExxonMobil was 1.1 percent higher to $69.83, while Marathon Oil added 3.1 percent to $89.94.

Also higher on the day, as investors sought a safe place to put their money, was the gold segment of the mining sector. Newmont Mining was up 3.6 percent to $52.55. Barrick Gold added 4.2 percent to $33.00. Copper miners also saw gains as a South American strike continued with not immediate hope of a solution. Freeport McMoran advanced by 4.7 percent to $57.15 and Coeur d’Alene was 4.9 percent higher to $5.37.

Home improvement retailers were lower. Lowe’s dropped 4 percent to $28.35 on a disappointing second-quarter report, and has lost 15 percent since January. Home Depot followed Lowe’s lower, falling 1.4 percent to $34.30. Elsewhere in the retail sector, Dollar General was down 9.6 percent to $12.74.

Transport was hit by higher oil prices, with Burlington Northern Santa Fe dropping 3.5 percent to $66.07 and Norfolk Southern declining by 4.1 percent to $42.46.

Internet stocks were lower as well, as Google fell 1.6 percent to $377.30, Yahoo was 3 percent lower to $28.90, and Amazon declined 3.4 percent to $28.13.