Confidence Falls, Stocks Slip, Volatility Spikes
Negative sentiment from the Consumer Confidence figure weighed heavily on the stock market today. Additional unexpected bad news arose from the Foreclosure arena further pushed stocks into the red. The Volatility Index VIX spiked higher for the first time in 6 days as traders scrambled for derivative insurance against further market declines. The DJIA dropped -82.38 to 8447.00, the tech heavy Nasdaq gave back -9.02 to 1835.04 and the broad based S&P 500 slipped -7.91 to 919.32.
Starbucks
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PowerRating) – This consumer favorite was hit by the falling confidence figures dropping 5.12% or 75 cents to $13.89/share.
Apollo Group
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Electronic Arts
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Geron Group
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Oil fell $1.60 to $69.99, Gold dropped $13.30 to $927.40 and the VIX index added 3.94% to 26.35 after being higher intraday.
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