The market bounced back on strong GDP report
A better-than-expected third quarter GDP reading helped the stock market snap back and reassured investors that the recovery is on track. The stronger-than-expected growth overshadowed higher than expected initial jobless claims (530,000 vs. 525,000 expected). Exxon Mobil missed the consensus earnings estimate but managed to eke out a gain. Procter & Gamble and Colgate-Palmolive posted [...]
The market slammed ahead of today’s reading on GDP growth
Stocks tumbled, led by the Nasdaq, as a weaker-than-expected new home sales report added to questions about the strength of the economic recovery.
Telecom got boost from Qwest earnings report and Verizon announcement on its iPhone challenging Droid smart phone and gained 1.8%.
The tech sector sank 5.8% after reports that AMD former chief executive may have [...]
The market finished mixed
The market finished a bit mixed, weighing a selloff in banks, techs, retailers and transportation stocks, a rally in energy and a surprise drop in consumer confidence. A better-than-expected housing market report and a strong response to the government’s latest debt auction were also in the mix. Exxon Mobil and Chevron strengthened after a [...]
The market failed to extend an early gain
Stocks tumbled on oil prices reverse, stronger U.S. dollar and weakness in financial sector. Financials closed in the red after analysts downgraded Fifth Third and SunTrust. Verizon said net income fell 10% despite adding a net 1.2 million wireless customers in the third quarter. Nonetheless, results topped expectations. Broad losses also hit tech sector [...]
The market slumped in a broad-based selloff
Stocks slumped, in a broad-based selloff that was especially hard on banks, energy shares, transportation companies and stronger U.S. dollar. The market retreated in the afternoon despite upbeat results from Microsoft (+5.4%) and Amazon.com (+26.8%), and an encouraging reading on existing home sales. A rally in the technology sector fizzled as chip stocks tumbled [...]
