IBM Deal Shaky, Stocks Down, Earning Nervousness
Stocks closed lower today after a valiant late day rally failed to push shares above break even. Nervousness prevailed over optimism for pending first quarter corporate earning releases. The markets nervous nature combined with IBM retreating from a $7 billion dollar buy out deal of Sun Microsystems pushed stocks lower on the day. The DJIA dipped -41.74 to 7975.85 dropping below the technically critical 8000 level, the tech heavy Nasdaq declined -15.16 to 1606.71 and the S&P 500 fell -7.02 to 835.48.
American Express
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Ford Motor
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DreamWorks
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Sun Microsystems
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Gold fell hard $24.50 to $872.80, Oil dipped $1.46 to $51.27 and the fear index VIX climbed 3.10% to 40.93 not breaking the critical 40 level on overall market nervousness.
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