Wednesday, August 15, 2007
Stocks close solidly lower, S&P off for year
DJIA
12,861
-167.45
S&P
1,406
-19.84
NASDAQ
2,458
-40.29
10Yr
4.71%
-0.026
Stocks close solidly lower, S&P off for year
NEW YORK
The selling of U.S. stocks accelerated ahead of the closing bell
Wednesday, leading the Dow falling below the 13,000 level for the first
time since the end of April, amid rising concerns about the troubled
credit markets.
The Ratings Game: Countrywide tumbles on Merrill's downgrade to sell
SAN FRANCISCO
Shares of top U.S. home lender Countrywide Financial Corp. tumbled 13%
Wednesday after a Merrill Lynch analyst downgraded the stock from buy to
sell.
Analysts start to pencil in Fed rate cut in October
WASHINGTON
Faced with tightening credit markets, Wall Street is clamoring for the
Federal Reserve to cut interest rates, but so far there is no indication
that the central bank will oblige.
More markets show home-price increases even as sales tumble
CHICAGO
More metropolitan areas showed home price increases during the second
quarter, the National Association of Realtors said on Wednesday. But
existing-home sales during the same period remained below year-ago
levels in most states.
Earnings Outlook: Analysts see H-P likely topping earnings estimates
SAN FRANCISCO
Hewlett-Packard Co. is scheduled to report its fiscal third-quarter
results after the market closes Thursday, and anticipation is high about
the likelihood for the technology giant to exceed Wall Street's current
earnings and revenue estimates.
