Soros Sinks Stocks, Earnings Cause Concern, Consumer Credit Drops
Negative words from influential, billionaire hedge fund investor, George Soros, added to the earnings nervousness depressing shares for the second day this week. Consumer Credit figures dropped by 3.5% adding fuel to the selling. The DJIA gave back -186.29 to 7789.56, the Nasdaq fell -45.10 to 1561.61 and the S&P 500 dropped -19.93 to 815.55.
Archer Daniels Midland
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Estee Lauder
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General Motors
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International Speedway
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PowerRating) – shares collapsed 23.78% or $5.81 to $18.62/share after the race track owner stated it would miss analysts EPS estimates.
Oil fell $1.90 to $48.53, Gold advanced $10.50 to $883.30 and the VIX fear index surprisingly fell 1.32% to 40.39 perhaps indicating that the selling is overdone.
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