Stocks pulled back Friday after a stronger than expected consumer inflation report raised fears that the Federal Reserve won't be able to cut interest rates to stem the meltdown in the sub-prime mortgage market. Javno - Economy - US Producer Prices Rose 0.1 pct in Oct, Core Flat:: Off On Wall Street Stocks Fall As High Oil Stokes Inflation Fears Europe Stocks Sag On Inflation Fears; Inbev Sinks US Consumer Spending Strong in November, http://www.javno.com/en/economy/clanak.php?id=98149HOME |
Following a stronger than expected wholesale inflation reading on Thursday, the report virtually assured that the Fed will have to stand pat on interest rates when it meets next week. Dow Suffers Worst Point Loss as Market Somberly Reopens - TheStreet.com:: Cramer: How Individual Stocks Might Act. Stocks Sag Despite Feds Flag-Waving and lay off workers and some fear there may be a wave of bankruptcies in the http://www.thestreet.com/story/10001153/1.htmlHOME | CBS News | Stocks Sag Despite Respectable GDP Growth | July 29, 2005 18 :: The Fed next meets Aug. 9, and is widely expected to raise the nations Fears about oils affect the economy contributed to the negative tone as oil http://www.cbsnews.com/stories/2005/07/29/ap/business/mainD8BL73Q00.shtmlHOME |
Still, despite two days of disappointing economic reports, the major indexes were down less than half a percent Friday.
HP edged higher after upping its stock buyback plan by $8 billion.
Actions Semi, OpenTV and Tektronix fell on their results.
Veeco lost 3% on a Thomas Weisel downgrade. WHO TV - Des Moines: Stocks sag, haunted by economy worries:: events pending such as the Fed rate decision, said Koichi Ogawa, chief financial crisis driven by continuing fears of bank losses and uncertainty over http://www.whotv.com/Global/story.asp?S=7781694HOME | US STOCKS-Wall St rises on ADP jobs data, Feds move:: European stocks end lower as automakers, miners sag. Market indices 2 August,2008 investors fears that are still out there, said Ryan Detrick, technical analyst http://money.ninemsn.com.au/article.aspx?id=606531HOME |
Atmel fell 5% on a battle for control of the company.
The Nasdaq lost 6 to 2372, the S&P 500 fell 5 to 1387, and the Dow lost 49 to 12,110. Volume rose to 3.34 billion shares on the NYSE, and 2.13 billion on the Nasdaq. Declining issues led by a 20-12 margin on the NYSE, and 17-11 on the Nasdaq. Downside volume was 68% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 86-31 on the NYSE, and 62-82 on the Nasdaq.
Technical Analysis: Holding Up
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