Free Viagra, Shrinking Stocks, Car Dealer Apocalypse
An unprecedented good will offer of free Viagra and 70 other drugs from pharmaceutical giant Pfizer to the unemployed failed to energize a limping stock market. It’s apocalypse now for over 1100 General Motors auto dealers who received notice today of imminent closure as the struggling auto behemoth undergoes extreme cost cutting measures. Good news from the Consumer Sentiment figure indicating improvement also failed to trigger buying as investors anxiously await next week’s slew of economic reports. The DJIA closed down -62.68 to 8268.64, the Nasdaq gave back -9.07 to 1680.14 and the S&P 500 fell -10.19 to 882.88.
Pfizer
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AutoNation
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DryShips
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Zale Corp
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PowerRating) – Positive words and an upgrade from Bank of America sent the stock soaring 30.26% or 0.92 cents to $3.96/share.
Oil fell $2.28 to $56.52, Gold added $2.90 to $931.30 and the VIX index advanced 5.58% to 33.12.
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