Thursday, July 26, 2007
Midday Report: U.S. stocks see sharp losses accelerate on credit markets, crude
DJIA
13,572
-212.57
S&P
1,491
-26.78
NASDAQ
2,606
-41.94
10Yr
4.81%
-0.098
U.S. stocks see sharp losses accelerate on credit markets, crude
NEW YORK
U.S. stocks traded sharply lower Thursday, driven down by heightened
worries about shakiness in credit markets and the housing sector, while
crude futures flirted with the $77 a barrel level.
Economic Report: U.S. new-home sales drop 6.6% to 834,000 in June
WASHINGTON
Sales of new homes in the U.S. declined more than expected in June,
falling 6.6% to a seasonally adjusted annual rate of 834,000, the
Commerce Department estimated Thursday.
Impairment charges continue to knock home-builder earnings
BOSTON
A slew of residential builders releasing quarterly financial results
this week have reported that profits are being eaten up by impairment
charges as land and home prices continue to head south.
Financial Stocks: Financial stocks tumble as credit worries grow
NEW YORK
Financial stocks tumbled Thursday, with major bank and brokerage stock
indexes down about 2% as fears continued over tightening credit and a
weak housing market.
