Stocks drop precipitously across the board on rumors of further declines in Financial shares and continuing housing woes. The DJIA lost -206.48 points, The S&P 500 descended -25.69 points, and The NASDAQ dropped -44.83 points.
DR Horton (DHI | news | PowerRating | PR Charts ) - Announced record losses dropping over 7% to 15.66.
Merrill Lynch & Co (MER | news | PowerRating | PR Charts ) - Suffered largest loss since March, dropping over 5% to 48.65, on new SEC regulations requiring full disclosure on capital and liquidity amounts.
Clear Wire Corp (CLWR | news | PowerRating | PR Charts ) - Climbed .14 or .85% on a Sprint partnership deal for a high speed wireless business and the first national WiMax network.
News Corp (NWS | news | PowerRating | PR Charts ) - The Rubert Murdoch controlled media company announced earnings at .91/share and sales rose 18%. The stock has risen .24 after hours.
Oil hit a new record high today on continued supply disruption rumors and a speculative buying frenzy despite a higher supply figure announced this morning. Oil climbed 1.4% to 123.64.
| Economic
News |
ISM Services (Apr): Actual 52.0, Consensus 49.1
Productivity Prel (Q1): Consensus 49.1%, Prior 49.6%
Pending Home Sales (Mar): Consensus -1.0%, Prior -1.9%
Crude Inventories (05/03): Consensus N/A, Prior 3848K
Consumer Credit (Mar): Consensus 6.0B, Prior 5.2B
Initial Claims (05/03): Consensus 375K, Prior 380K
Wholesale Inventories (Mar): Consensus 0.5%, Prior 1.1%
Trade Balance (Mar): Consensus -$61.3B, Prior -$62.3B |
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