Confidence Cracks, Robert Shiller Concerned, Stocks Shoved
A weaker than expected consumer confidence report combined with concerned words from noted economists Nouriel Roubini and Robert Shiller shoved stocks downward for the fourth straight weekly loss. However, gains in tech shares managed to push the Nasdaq into positive territory by the close of trading. The DJIA lost -36.65 to 8146.52, the Nasdaq eased ahead by +3.48 to 1756.03 and the S&P 500 gave back -3.55 to 879.13.
Chevron Corp
(
CVX |
Quote |
Chart |
News |
PowerRating) – The falling dollar effected profits of the US&’s second largest energy producer sending shares dipping down 2.65% or $1.67 to $61.42/share.
PriceSmart
(
PSMT |
Quote |
Chart |
News |
PowerRating) – Discount shopping club owner reported declining third quarter profits triggering shares to sell off by 14.04% or $2.62 to $16.04.
Shaw Group
(
SGR |
Quote |
Chart |
News |
PowerRating) – Third quarter profit plummeted 85% for this power plant builder sending shares tumbling 9.56% or $2.50 to $23.66.
Infosys Technologies
(
INFY |
Quote |
Chart |
News |
PowerRating) – Climbed 4.23% or $1.46 to $35.95/share upon beating analysts first fiscal quarter profit estimates.
Oil fell another 52 cents to $59.86, Gold gave back $3.70 to $912.50 and the VIX index actually fell 2.55% to 29.02 dropping below the critical 30 level.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|