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Manikamaniko.
Master |
15-Nov-2007 01:23
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The Dow's yo-yo behaviour so far tonight is re-assuring... in a technical context, looks like stability is returning... the green flies will be back soon enough...  |
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Pinnacle
Master |
15-Nov-2007 00:54
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Market flat as initial gains fadeStocks were little changed on Wednesday as investor doubt the market would sustain Tuesday's sharp recovery overshadowed comments by Bear Stearns Cos. Inc. (BSC.N: Quote, Profile, Research) that eased some worries about financial sector losses. A 2 percent rise in crude oil futures to $93.18 a barrel also limited stock market gains, as higher fuel costs hit consumers and corporations. Analysts said investors likely were taking an opportunity to sell following Tuesday's rally that marked the Nasdaq's biggest gain in more than four years. The Dow and the S&P 500 registered their biggest climb since September 18. "It is more about sell the strength after yesterday's somewhat skeptical rally. People are skeptical that yesterday's 300-point move in the Dow was something that could be sustained," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles. Microsoft Corp. (MSFT.O: Quote, Profile, Research), down 0.9 percent at $34.15, was among the biggest declining stocks. In comments at a conference, Bear Stearns' Chief Operating Officer Sam Molinaro said the investment bank expects to write down $1.2 billion of assets linked to mortgages in the fourth-quarter. Investors were relieved the writedown was not larger. The Dow Jones industrial average (.DJI: Quote, Profile, Research) was down 2.92 points, or 0.02 percent, at 13,304.17. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research) was up 2.15 points, or 0.15 percent, at 1,483.20. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) was down 2.11 points, or 0.08 percent, at 2,671.54. Bear's stock was up 4.3 percent at $105.13. Government data showed a smaller-than-expected rise in U.S. producer prices for October, defusing worry about inflation, and an increase in retail sales for October that was in line with expectations. The data provided some brief support to the market. |
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Pinnacle
Master |
15-Nov-2007 00:34
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Retail, inflation data subdued Retail sales rose a sluggish 0.2 percent in October and producer prices rose only slightly, according to data on Wednesday that may give the Federal Reserve more leeway to prop up a slowing economy. The modest retail sales gain reported by the Commerce Department matched economists' expectations, as a housing downturn and steep oil prices constrained consumer spending. Last month's increase was slimmer than September's, when sales rose an upwardly revised 0.7 percent. Separately, the Labor Department said the producer price index, a gauge of prices paid at the farm and factory gate, rose 0.1 percent, well below September's 1.1 percent advance. Core prices, which strip out volatile food and energy costs, were unchanged. "This leaves the door more open for the Fed to do more (interest-rate) cutting," said Robert Macintosh, chief economist at Eaton Vance Corp in Boston. "Inflation's not an issue and consumers continue to pull back on their activity." "If the consumer really pulls back, then you are talking about a recession," he said. In a separate report, the Commerce Department said business inventories rose 0.4 percent in September. Economists think businesses may slow production in the fourth quarter in an effort to pare inventories. Stocks turned mixed after a firm start as investors tried to sort out whether the U.S. economy could withstand the triple threat of housing, pricey oil and tightening credit. Bonds pared losses and the dollar took another beating. SILVER LINING The Fed finds itself in the tricky position of trying to insulate the U.S. economy from a housing downturn without stoking inflation. The central bank has said it expects fourth-quarter economic growth to slow from the surprisingly strong annual rate of 3.9 percent posted in the third quarter, and it will watch the data closely for signs of further deterioration. Economists polled by Reuters had widely expected retail sales growth to slow from September's pace as consumer confidence sank under the weight of the housing slide, rising oil prices and tougher credit conditions. Investors are watching retail sales data closely for signs that consumers are caving, which would deal a severe blow to the already shaky U.S. economy. Consumer spending accounts for more than two-thirds of U.S. economic activity. "The silver lining to the slowdown in consumption spending is a reduction in the rate of growth of imports, a prospective rise in the savings rate and downward pressure on core inflation," said Global Insight U.S. economist Brian Bethune. "This should alleviate the inflation risks that were recently flagged by the Federal Reserve." Sales at home furnishing stores declined 0.9 percent last month as the housing slump took its toll, while gasoline stations posted a 0.8 percent increase. Excluding autos, October sales rose 0.2 percent, a shade below economists' forecast for an increase of 0.3 percent. On the inflation front, the PPI data showed energy prices fell 0.8 percent in October after a 4.1 percent rise in September. Prices for light trucks, which include slow-selling sport utility vehicles and pickup trucks, fell 2.7 percent. Core prices excluding cars and light trucks rose 0.2 percent in October. |
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Pinnacle
Master |
14-Nov-2007 23:56
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Stocks tiptoe higherInvestors consider a mild wholesale inflation reading and sluggish retail sales.Stocks inched higher Wednesday morning after a mild reading on wholesale inflation reassured investors, but gains were limited one session after a big rally.
Stocks rallied Tuesday, after a four-session selloff, after comments from executives at Goldman Sachs and other major banks offered reassurance that the worst of the credit crisis seems to be over. On Wednesday Bear Stearns (Charts, Fortune 500) said it will take a $1.2 billion writedown and post a loss this quarter due to subprime losses. However, shares rose, perhaps on relief that the writedown was not even larger. Treasury prices fell, raising the yield on the 10-year note to 4.28 percent from 4.26 percent late Tuesday. Treasury prices and yields move in opposite directions. In currency trading, the dollar continued to slump against the euro. The greenback also inched higher against the yen. COMEX gold for December delivery rose $17.60 to $816.60 an ounce. U.S. light crude oil for December delivery rose $1.48 to $92.65 a barrel on the New York Mercantile Exchange. |
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Pinnacle
Master |
14-Nov-2007 23:41
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Market pares gains as early optimism fizzles NEW YORK (Reuters) - Stocks pared early gains and the Dow briefly turned negative on Wednesday as investors doubted if the market would sustain Tuesday's sharp recovery, even as comments by Bear Stearns Cos. Inc. (BSC.N: Quote, Profile, Research) eased some worries about the financial sector. The Dow Jones industrial average (.DJI: Quote, Profile, Research) was up 7.89 points, or 0.06 percent, at 13,314.98. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research) was up 3.52 points, or 0.24 percent, at 1,484.57. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) was up 1.71 points, or 0.06 percent, at 2,675.36. |
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1234567
Senior |
14-Nov-2007 23:16
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KiLrOy, thanks for sharing. | ||
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Pinnacle
Master |
14-Nov-2007 23:14
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Market gains with Bear Stearns and financialsStocks gained for a second day on Wednesday after Bear Stearns Cos. Inc. (BSC.N: Quote, Profile, Research) said the worst of its mortgage write-downs are behind it, easing worries about future losses in the financial sector. Also, department store operator Macy's (M.N: Quote, Profile, Research) reported earnings that topped estimates and its shares were up 2.5 percent at $31.42. But a 2 percent rise in crude oil futures to $93.18 a barrel limited stock market gains. In economic news, government data showed a smaller-than-expected rise in U.S. producer prices for October, defusing worry about inflation, and an increase in retail sales for October. In comments at a conference, Bear Stearns' Chief Operating Officer Sam Molinaro said the investment bank expects to write down $1.2 billion of assets linked to mortgages in the fourth-quarter. Investors were relieved the writedown was not larger. "We have another firm out today with writedowns, and people are getting comfortable with the view that this second round of writedowns may be the beginning of the bottom," said Owen Fitzpatrick, head of U.S. Equity Group at Deutsche Bank Private Wealth Management in New York. The Dow Jones industrial average (.DJI: Quote, Profile, Research) was up 25.12 points, or 0.19 percent, at 13,332.21. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research) was up 4.93 points, or 0.33 percent, at 1,485.98. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) was up 3.64 points, or 0.14 percent, at 2,677.29. Shares of Bear rose 9.4 percent to $110.26, along with other financial companies including Goldman Sachs Group Inc (GS.N: Quote, Profile, Research), up 2.3 percent at $238.34. The Macy's results follow a strong profit and outlook from Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research) a day earlier, which helped contribute to Tuesday's more than 300-point rally in the Dow. JC Penney Co Inc (JCP.N: Quote, Profile, Research) shares were up 1.8 percent at $48.94. |
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DnApeh
Master |
14-Nov-2007 23:13
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The past 3 days candles look like morning star pattern. Can any candlesticks expert please share your views? |
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Manikamaniko.
Master |
14-Nov-2007 23:02
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From the chart-based point of view, such a strong and decisive broad-based upthrust by the Dow last night signals better days ahead (even if the Dow closes 100 pts lower tonight)...
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KiLrOy
Master |
14-Nov-2007 21:42
Yells: "I buy only what I can see." |
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(RTTNews) - The dollar moved back to the upside versus the yen Wednesday morning at 8:30 am ET after the release of retail sales numbers that came in line with expectations. With traders also assessing relatively tame inflation data, the dollar bounced back to 111.45, up from an 8 am low of 110.75. DefinitionMonthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. Consumer spending is vital to the US economy, accounting for more than two-thirds of all economic activity. Given that retail sales make up a hefty one third of such spending, the Advanced Retail Sales figure acts as a measure of consumer demand before GDP is released. The figure has its limits, though. For instance, the timely release of the report comes at the cost of volatility in the figures and significant monthly revisions. It is not unusual for the figure to come out positive one month, only to be subsequently revised as negative. Retail Sales can also be volatile due to seasonality. Additionally, the report has been criticized for excluding service sector sales and failing to adjust for inflation. Despite these drawbacks, the figure still moves the market on release, mainly because of the importance of consumer spending to the US economy. The Retail Sales figure is calculated as the total receipts of retail sales in nominal dollars based on a sample of stores throughout the month - returns, taxes and finance charges are excluded. It appears in the headlines as the annualize percentage change from the previous month. Advance Retail Sales Less Autos The Retail Sales figure is also reported excluding automobile sales. Given their high cost, auto sales contribute significantly to retails sales, comprising nearly a quarter of the figure. As a result, changes in automobile sales can produce high fluctuations in the retails sales report. Vehicle sales are prone to seasonal changes, thereby easily distorting retail sales trends. To provide a more accurate picture of retail sales the auto component is removed and followed more closely. |
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KiLrOy
Master |
14-Nov-2007 21:38
Yells: "I buy only what I can see." |
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Look set for a positive US market tonight. (RTTNews) - Wednesday morning, the Department of Labor released its report on wholesale price inflation in the month of October, showing that prices rose less than expected due in part to a drop in energy prices. The Labor Department said its producer price index (PPI) edged up 0.1 percent in October following an unrevised 1.1 percent increase in September. Economists had expected the index to increase by about 0.3 percent.The report also showed that the core producer price index, which excludes food and energy prices, came in unchanged after rising 0.1 percent in the previous month. The core index had been expected to rise 0.2 percent. Definition
A rise in PPI signals an increase in inflationary pressures. Given the economic instability associated with rising price levels, the Fed often will raise interest rates to check inflation. A low or falling PPI is indicative of declining prices, and may suggest an economic slowdown. The headline figure is expressed in percentage change of producer price. Notes: The PPI records prices at various stages of production: raw goods, intermediate goods and finished goods. Though intermediate and crude goods price do provide insight for future inflationary pressure, it is the price of finished goods that generates most interest for market participants. The finished goods data is able to gauge price pressure before the goods reach the retail market. Core PPI, Excluding Food and Energy The PPI is also reported without the volatile food and energy components. In addition to being seasonally volatile, the two comprise a significant portion of US goods. As a result, any sudden disruption in oil or food supplies will significantly distort the Producer Price Index inflation assessment. By excluding such entities, Core PPI is able to provide a truer, more consistent picture of US inflation trends. |
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Manikamaniko.
Master |
14-Nov-2007 17:47
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This broad-based rebound is a very significant event which will provide much re-assurance in attracting the bulls back...
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mirage
Veteran |
14-Nov-2007 15:00
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Quotes: NEW YORK (MarketWatch) -- U.S. stocks surged higher Tuesday as beleaguered financial stocks fronted a rally that sparked the Dow's biggest single-day jump in eight weeks after Goldman Sachs' outlook helped appease market jitters about the credit crisis.
"We're buying what has been beaten down and selling what was winning," said Peter Boockvar, equity strategist at Miller Tabak. "We're bottom-picking the financials on a sigh of relief that no shoes, or news, dropped at the Merrill [Lynch] conference," Boockvar said of the financial services event at which Goldman Sachs' chief executive spoke.
"The question is not whether we're getting a bounce and everything is fine; the question is whether this is just a one-day event. It's not today that is most important, but whether there is any follow through," Boockvar said.
Snapping an extended four-day losing streak, the Dow Jones Industrial Average ($INDU:
Dow Jones Industrial Average
Last: 13,307.09+319.54+2.46%
4:03pm 11/13/2007 Delayed quote data Sponsored by: JPMorgan Chase & Co
Last: 45.05+2.66+6.28%
4:00pm 11/13/2007 Delayed quote data Sponsored by: The S&P 500 ($SPX:
S&P 500 Index
Last: 1,481.05+41.87+2.91%
4:59pm 11/13/2007 Delayed quote data Sponsored by: Nasdaq Composite Index
Last: 2,673.65+89.52+3.46%
5:16pm 11/13/2007 Delayed quote data Sponsored by: Stocks rallied as oil fell, with crude futures closing down $3.45, or 3.7%, at $91.17, nearing a two-week low. Read Futures Movers.
Stocks continued to climb as the National Association of Realtors reported its index of contract signings on existing homes fell to 85.7 in September from the year-ago reading of 107.6. But the data was up slightly from August, and beat expectations of a 1% decline.
Tech stocks gained along with the broader market; shares of Apple Inc. (AAPL:
Apple Inc
Last: 169.96+16.20+10.54%
4:00pm 11/13/2007 Delayed quote data Sponsored by: china mobile limited sponsored adr
Last: 87.03+6.32+7.83%
4:04pm 11/13/2007 Delayed quote data Sponsored by: vmware inc cl a com
Last: 90.68+10.32+12.84%
4:01pm 11/13/2007 Delayed quote data Sponsored by: Sectarian rise
Financial stocks also advanced, helped by Goldman Sachs (GS:
Goldman Sachs Group, Inc
Last: 233.04+18.33+8.54%
4:00pm 11/13/2007 Delayed quote data Sponsored by: Drug stocks also moved higher, as Nektar Therapeutics (NKTR:
nektar therapeutics com
Last: 6.12+0.32+5.52%
4:00pm 11/13/2007 Delayed quote data Sponsored by: Pfizer Inc
Last: 23.55+0.53+2.30%
4:00pm 11/13/2007 Delayed quote data Sponsored by: Shares of Pfizer gained nearly 2.3%.
Mixed earlier on, energy indexes also pulled ahead, with the Amex Natural Gas Index (XNG:
amex natural gas index
Last: 543.27+10.76+2.02%
4:42pm 11/13/2007 Delayed quote data Sponsored by: amex oil index
Last: 1,438.04+28.04+1.99%
4:42pm 11/13/2007 Delayed quote data Sponsored by: | ||
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huatah
Veteran |
14-Nov-2007 06:12
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Oil off more than $3 on demand forcast. Oil prices that last week seemed on an inexorable path toward $100 a barrel slid more than $3 to the $91 level Tuesday after the International Energy Agency cut its demand forecasts and said crude supplies are rising. Prices also fell after diplomats said Iran has handed over blueprints key to its nuclear program, meeting a central United Nations demand and potentially defusing the country's standoff with the West. The IEA, an energy policy adviser to 26 predominantly Western industrialized nations, lowered its fourth-quarter oil demand forecasts by 500,000 barrels a day, and cut its demand forecasts for 2008 by 300,000 barrels a day. Year-over-year demand growth will now average 1.2 percent in 2007 and 2.3 percent in 2008, the IEA said. At the same time, global oil supplies grew by 1.4 million barrels a day in October due to increases in OPEC supplies and production in China, Azerbaijan and Russia, the IEA said. The Organization of Petroleum Exporting Countries boosted output by 410,000 barrels a day in October, the IEA said. "There are ... strong indications that high prices are depressing demand," the IEA said in its monthly Oil Market Report. But analysts have long theorized that oil was also lifted by speculative buying incited by the dollar's long decline. And while some of the market's fundamental concerns seemed to be ebbing Tuesday, some of the selling was likely due in part to a reversal of those speculative bets. Still, whether Tuesday's sharp decline marks the beginning of the end of an oil bubble remains to be seen. Prices did rebound late in the session from lows near $90. Analysts say investors who still believe oil will rise above $100 will swoop in to "buy the dips" whenever oil prices fall. Investors will be further tested on Thursday when the Energy Department issues its weekly inventory report. A larger than expected decline in crude supplies could reverse the recent bearish sentiment and send prices back towards $100, analysts say. Oil prices were also pressured Tuesday by indications OPEC may agree at a meeting next month to further boost output, and by Tuesday's expiration of December crude call options. On Tuesday, Saudi Arabia's Oil Minister, Ali Naimi, reiterated that OPEC may discuss increasing output at a meeting next month in Abu Dhabi, United Arab Emirates, according to Dow Jones Newswires. Energy Secretary Samuel Bodman, speaking at the World Energy Congress in Rome, said he has asked OPEC to increase production. |
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huatah
Veteran |
14-Nov-2007 06:05
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DOW ENDS AT 13307... Wall Street shot higher Tuesday, lifting the Dow Jones industrials nearly 320 points after reassuring news from Goldman Sachs Group Inc. and Wal-Mart Stores Inc. quelled some of the market's worst fears about the credit crisis and the economy. A plunge in the price of oil gave investors further incentive to buy.
Goldman's news helped offset an announcement from Bank of America Inc., which joined other big financial companies including Citigroup Inc. and Merrill Lynch that have recently revealed heavy writedowns from soured mortgages; BofA said it will record $3 billion in pretax writedowns in the fourth quarter. Goldman's assessment was the first substantial good news from the financial services industry about a company's credit exposure, and was comforting to investors whose fears about widening credit problems have sent Wall Street plunging over the past month. "People just want to know what's out there," said Todd Leone, managing director of equity trading at Cowen & Co. "They want to feel like they're being told the truth." Meanwhile, Wal-Mart, the world's largest retailer, reported third-quarter profit surpassed projections and hinted that consumer spending might be stronger than anticipated this holiday shopping season. The results also showed that heavy discounting during the period did not hurt margins, which the company said bodes well for the fourth quarter. A sharp pullback in energy prices also encouraged Wall Street. Oil prices plummeted after the International Energy Agency reduced its expectations for demand in the fourth quarter and next year and said crude supplies are growing. Light, sweet crude for December delivery fell $3.45 to settle at $91.17 a barrel on the New York Mercantile Exchange. According to preliminary calculations, the Dow rose 319.54, or 2.46 percent, to 13,307.09. A day earlier, a turbulent session pushed the Dow below 13,000 for the first time since August. Tuesday's advance snapped a four-day losing streak for the blue chip index. Broader indexes also rose sharply Tuesday. The Standard & Poor's 500 index jumped 41.86, or 2.91 percent, to 1,481.04, and the Nasdaq composite index gained 89.52, or 3.46 percent, to 2,673.65. "Over the last week there has been so much bloodshed on the Street, it's finally enticed people back to the market," said Ryan Larson, senior equity trader at Voyageur Asset Management. "At some point, it's hard to turn your head when all these issues become so cheap." Bonds fell as investors moved back into stocks. The yield on the benchmark 10-year Treasury note rose to 4.26 percent from 4.22 percent late Friday. The market was closed Monday in observance of Veterans Day. Gold prices declined, settling at $799 an ounce on the Nymex. It was the first close below $800 since Nov. 2. The dollar was mixed. Investors were expected to position their portfolios ahead of key economic data out during the week. Two key barometers of inflation and the economy will be released, with the Labor Department's Producer Price Index on Wednesday and the Consumer Price Index on Thursday. News in the troubled housing market was mixed Tuesday, but didn't spoil Wall Street's rally. The National Association of Realtors said its index for pending home sales edged higher in September at a seasonally adjusted annual rate of 0.2 percent to 85.7 from 85.5 in August. It was the first increase since June. However, the trade group said it expects the market slump to worsen into 2008. Goldman shares gained $18.33, or 8.5 percent, to $233.04, while Bank of America added $2.29, or 5.2 percent, to $46.27. Wal-Mart spiked $2.65, or 6.1 percent, to $45.97 after the retailer said quarterly profit rose 8 percent as it heads into the holiday shopping season. Chief Executive Officer Lee Scott said it has been a tough year for consumers, but that the company's new focus on pricing is paying off. TJX Cos. -- the operator of T.J. Maxx and Marshalls -- reported third-quarter profit rose 13 percent. Results, which missed Wall Street expectations, were hurt by unseasonably warm early fall weather. Shares added $1.10, or 3.8 percent, $30.42. Home Depot Inc., the world's largest home improvement chain, reported third-quarter results fell 26.8 percent because of the continuing slump in the housing sector. Shares rose 66 cents, up 2.3 percent, to $29.12. Troubled lender Countrywide Financial Corp. said total mortgage origination volume fell 48 percent in October due to continued weakening of the mortgage market and the company's decision to cut down on its subprime lending operations. However, shares rose 53 cents, or 4 percent, to $13.72 after Countrywide said it significantly reduced some of its riskier loans that triggered recent financial problems. |
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moneyface
Senior |
14-Nov-2007 00:45
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13150+.... some good news at last | ||
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Pinnacle
Master |
13-Nov-2007 22:53
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S&P rises 1 percent Stocks surged on Tuesday, pushing the S&P 500 and Nasdaq indexes up more than 1 percent, as the market rebounded from a string of losses and was buoyed by higher-than-expected profit at Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research). Shares of Apple Inc (AAPL.O: Quote, Profile, Research) helped lift the S&P and Nasdaq. The Dow Jones industrial average (.DJI: Quote, Profile, Research) was up 113.15 points, or 0.87 percent, at 13,100.70. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research) was up 16.84 points, or 1.17 percent, at 1,456.02. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) was up 38.33 points, or 1.48 percent, at 2,622.46. |
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Pinnacle
Master |
13-Nov-2007 22:51
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Stocks get a boost at the openTechs pace advance as retail earnings and lower oil boost investors.Results from two key retailers and a drop in oil prices helped lift U.S. stocks at the start of trading Tuesday.
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Pinnacle
Master |
13-Nov-2007 21:54
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Stocks set to reboundFutures higher as better-than-expected results from Wal-Mart outweigh earnings miss, warning at Home Depot.U.S. stocks were poised to rebound from another sell-off Tuesday morning as investors awaited quarterly earnings from key retailers Wal-Mart and Home Depot.
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Pinnacle
Master |
13-Nov-2007 21:40
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Futures point higher on profit viewsStock futures jumped on Tuesday, pointing to a rebound after four straight sessions of losses, as higher-than-expected profit at Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) lifted sentiment. Oil prices below $94 a barrel added to the positive tone. Shares of Wal-Mart, the world's biggest retailer, rose 3.3 percent to $44.77 before the opening bell after it said the 8 percent rise in third-quarter earnings came on stronger sales abroad, tighter cost controls and efforts to lure customers into stores earlier than ever for holiday shopping. "I kind of think the market is going to encounter a technical rebound today... We had solid corporate news already," said Peter Cardillo, chief market economist at Avalon Partners. However, home improvement retailer Home Depot Inc (HD.N: Quote, Profile, Research) reported results that missed expectations and forecast a steeper fall on full-year earnings. S&P 500 futures rose 13.80 points and were well above fair value, a formula to evaluate pricing taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 98 points, and Nasdaq 100 futures gained 21.50 points. U.S. stocks fell for a fourth session on Monday, led by a widening sell-off in technology stocks late in the day on worries about business spending, while a drop in oil prices hit energy producers' shares. News Corp (NWSa.N: Quote, Profile, Research) Chairman Rupert Murdoch said the company had made a strong start to this quarter, with the global credit-market squeeze so far not having much affect on forward advertising. On the economic agenda, the National Association of Realtors is scheduled to issue its Pending Home Sales Index for September at 3 p.m. Economists in a Reuters survey forecast a 2.8 percent drop versus a 6.5 percent fall in the August release. On Monday, the Dow (.DJI: Quote, Profile, Research) fell 0.4 percent to 12,987.55 points -- its first finish below 13,000 since early August. The Standard & Poor's 500 Index (.SPX: Quote, Profile, Research) fell 14.52 points, or 1.00 percent, to finish at 1,439.18. Monday's loss marked the S&P's longest losing streak in nine months. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) tumbled 43.81 points, or 1.67 percent, to 2,584.13. |
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