Wednesday, October 15, 2008
U.S. stocks dragged lower at the start amid recession worries
U.S. stocks dragged lower at the start amid recession worries
U.S. stocks dropped at the start on Wednesday after data underlined a
recession is likely to come or is already under way, dispelling any
optimism on better-than-forecast results from the Coca-Cola Co., Intel
Corp. and J.P. Morgan Chase.
Crude falls below $75 a barrel on economic jitters, OPEC update
Crude-oil futures plunge 4% in electronic trading, as traders sell amid
worries that the global financial crisis will spell a sharp slowdown in
economic growth and thus pinch energy demand.
International strength boosts Coca-Cola's profit
As Coca-Cola's third-quarter profit rises 14%, fueled by international
growth, investors make shares of the beverage giant one of the few
winners within the Dow Jones Industrial Average. S
Economic Report: Retail sales tumble 1.2%, capping worst quarter in
decade
U.S. retail sales fell 1.2% in September, the worst drop in three years
and the third decline in a row, a further sign that the economy has sunk
into a recession led by an exhausted consumer.
J.P. Morgan Chase profit tumbles; CEO cautions on outlook
J.P. Morgan Chase's third-quarter net income falls 84%, amid the worst
banking environment in about 70 years, and the firm cautions that
earnings would remain weak for several quarters to come. .
