Fed chief Ben Bernanke is battling for his political life as his second term approaches. Accused of regulatory failures, he calmly addressed his senatorial critics with a strong case for another term. Shrinking service industries and sketchy retail sales for November knocked stocks off their 3 day uptrend. The DJIA fell -86.53 to 10366.15, the Nasdaq dropped -11.89 to 2173.14 and the broad based S&P 500 slipped -9.32 to 1099.92.
Abercrombie & Fitch ( ANF | Quote | Chart | News | PowerRating): The teen clothier fell 9.25% or $3.69 to $36.21/share after a November drop in business hurt retail across the board.
MGIC Investment ( MTG | Quote | Chart | News | PowerRating): Climbed 8.94% or 38 cents to $4.63/share after the mortgage insurer Wisconsin regulator dismissed a minimum capital regulation for insurance sellers.
Toll Brothers ( TOL | Quote | Chart | News | PowerRating): Gave back 7.54% or $1.47 to $18.02/share upon reporting a larger than forecast loss.
Comcast ( CMCSA | Quote | Chart | News | PowerRating): Agreed to purchase a majority stake in NBC sending shares higher by 6.49% or 97 cents to $15.91/share.
Oil fell 14 cents to $75.84 and gold moved ahead by $5.20 to $1218.00. While the VIX index spiked by 6.34% to 22.46.
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