Last Update: 8/19/2008 10:10:00 AM
NEW YORK (MarketWatch) — U.S. stocks dropped in early trade on Tuesday,
continuing a slide from the previous session, with concerns about the economy
fueled by weak housing starts and a stronger-than-expected rise in wholesale
prices.
Summary:
- Fed’s Fisher makes case for hike rate sooner rather than later.
- Lehman Brother (LEH) has approached a number of potential bidders about selling part of its investment business.
- S&P and Nasdaq Composit push lower.
- Staples (SPLS) warnedof weaker than expected results in 2Q.
- Helett (HPQ) and Semiconductor firm analog devices (ADI) report quarterly result in AH market
- The labor market reported Tuesday that U.S producer prices rose by a bigger-than-expected 1.2% in July>0.3% by economists surveyed.
- Housing starts fell 11% to a seasonally adjusted annal rate of 965,000 in July.
- The American Customer Satisfaction Index edged down in the second quarter despite
big gains in online commerce, and the drop may signal more trouble ahead for the
world economy. - Dec. gold falls $7.20, or 0.9%, to $798.50/oz on Nymex.
- Sept. crude down 42 cents at $112.45/brl on Nymex.
- Currencies: Dollar slightly lower against most rivals
Possibly Related Posts:
- The list of negative sentiments with Americans Now
- That is a joke, look at that caricatural dramatisation
- Foreclosures will continue because the values of homes will continue to go down for some time.
- The markets are going down because we are technically broken NOW
- Citi Blank sees Fed cutting funds rate to -2% by end-April 2009; J.P. Morgan sees Fed cutting funds rate to 0% by end-January
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