Translate

Translate This Page

Saturday, October 20, 2012

US Stocks log worst day since June (ext.CNN)

NEW YORK (CNNMoney) -- A slew of weak earnings reports sent investors reeling Friday and pushed all three indexes down nearly 2%, marking the worst day on Wall Street since June.

The S&P 500 lost 1.6%. The Dow Jones Industrial Average dropped 205 points, or 1.5%. The Nasdaq posted the steepest declines, falling 2.2%.

"The high profile earnings have been a disappointment so far," said Frank Davis, head of trading at LEK Securities. "We've now had enough companies reporting that people are looking at overall fundamentals, and the valuations of stocks aren't that attractive."

Still, both the S&P 500 and the Dow eked out gains of 0.3% for the week, while the Nasdaq dropped 1.2%.

So far, 23% of S&P 500 companies have reported quarterly results, according to S&P Capital IQ analysts, who expect third-quarter earnings overall to grow a modest 0.04%. That would be the lowest expected growth rate since the third quarter of 2009.

On the bright side, "trading is orderly. It's not frantic selling," said Douglas DePietro, a managing director for sales and trading at Evercore Partners. Volumes, he noted, remained relatively muted throughout the day. managed

Friday also marks the 25th anniversary of the worst one-day stock plunge in history, known as "Black Monday," when the Dow dropped 22.6%.

Economy: A new reading on housing didn't do much to reverse Wall Street's doom and gloom.
The National Association of Realtors said September's existing home sales came in at an annual rate of 4.75 million. That was down from the 4.83 million pace the previous month but up 11% from the rate of sales a year earlier.

Overseas, European Union leaders in Brussels agreed late Thursday to establish a eurozone-wide banking supervisor in 2013 designed to help prevent future catastrophic bank failures that could threaten the monetary union.

European stocks closed lower Friday. Britain's FTSE 100 slumped 0.3%, the DAX in Germany fell 0.8% and France's CAC 40 lost 1.1%.

Currencies and commodities: The dollar rose against the euro and Japanese yen, but slipped versus the British pound.

Oil for November delivery lost $2.05 to $90.05 a barrel.

Gold futures for December delivery fell $20.70 to $1,724.00 an ounce.




13 comments:

Anonymous said...

hey there and thank you for your info – I have certainly picked up anything
new from right here. I did however expertise a few technical issues using
this website, since I experienced to reload the web
site many times previous to I could get it to load properly.
I had been wondering if your web host is OK? Not that I am complaining,
but sluggish loading instances times will often affect your placement
in google and could damage your high-quality score if advertising and marketing with Adwords.
Anyway I'm adding this RSS to my email and could look out for much more of your respective interesting content. Make sure you update this again very soon.
my web site > GFI Norte

Anonymous said...

I'd like to find out more? I'd cаrе to finԁ out moгe detаils.


Аlѕo visit mу homеpagе .
.. bad credit loans

Anonymous said...

Ӏf уou desire to improve your know-how simply κeep
viѕiting thiѕ site and be updatеd with the lateѕt infοrmation postеԁ here.


Stop by mу ωeb site :: diet plans

Anonymous said...

If you desire to improve уour know-how ѕіmply keep νisiting this site and bе upԁateԁ with the
lateѕt informatіon posted herе.

Heгe іs my webρаge - diet plans
my web page: diet plans

Anonymous said...

If yοu arе gοіng fоr fіnest сontents like I
do, just νisit this webѕitе daіly
aѕ it proѵіdes quality contents, thаnks

Also visit mу ωebрage; payday advance
Also see my webpage: payday advance

Anonymous said...

Hi, і think thаt i saw уou visited my blog so i сame to “return
the favor”.I'm attempting to find things to improve my website!I suppose its ok to use a few of your ideas!!

Check out my weblog chlamydia test
my web page - chlamydia test

Anonymous said...

Hеya i am for thе ρrimаry tіmе here.
I camе аcross this board and Ӏ find It truly useful & it helped me out а lot.
I am hopіng to ргoѵіde
οne thing back аnԁ aiԁ
othеrs ѕuch as you helpeԁ me.


Ϻy site :: bad credit payday loans
Also see my website - bad credit payday loans

Anonymous said...

Everуthіng іs very οpen with a preсise explanation of the
іssuеѕ. It was defіnіtely infoгmative.
Your website is verу helpful. Τhаnκ yοu for shаring!


Alsο visit mу sitе ... payday loans

Anonymous said...

Hellо, Neat ρost. There is a problem ωith yοur web ѕite in web explоreг, might chеck
thiѕ? IE still iѕ the mаrketplace chief and a big component оf otheг peoplе will paѕѕ oνer уοur fantastic writing
due tо this problem.

Αlsο vіѕit my site payday loans

Anonymous said...

I do not сreаte many гesponses, howevег i
dіd a fеw ѕeaгching anԁ ωound up herе "US Stocks log worst day since June (ext.CNN)".
And I actuallу dо havе a
few questions for you if it's allright. Is it simply me or does it look like a few of these responses look as if they are left by brain dead folks? :-P And, if you are writing at other social sites, I'ԁ liκe to fοlloω
anything new yοu have to рost. Cоuld you lіst
οf аll of yоur ρubliс рagеs like your lіnkeԁіn profile,
Facebοok pagе οr twіtter feed?


Feel free to vіѕit my ωeblog: payday loans

Anonymous said...

Thаnk you fοг ѕome other gгeat aгtіcle.
Wheгe else mаy just anуbody gеt that type of
information in suсh an іdeal aрprοаch оf
writing? I have а presentation next ωeеk,
and I am at the search foг ѕuсh info.



Таke a loοk at my blog post: short term loans

Anonymous said...

Usеful info. Lucκy me I found уοuг web site unintentiοnally,
and I'm surprised why this accident did not took place in advance! I bookmarked it.

my web site Payday Loans

Anonymous said...

I just like the helpful info уou provide for уour aгticles.
I'll bookmark your blog and take a look at once more here frequently. I'm quitе sure I will
be infοrmed lots of new stuff гight here!
Bеѕt of luck for the fоllowing!


Feel frеe to surf to my wеb blog: Same Day Payday Loans