Indexes Drop, Housing Starts Slip, CME Surges
US stock indexes dropped today on weaker than expected industrial production and Goldman Sach’s statement that banks need to raise $65 billion to cover expected losses. The DJIA gave back -108.78 to 12169.30, the Nasdaq dipped -17.05 to 2457.73 and the S&P 500 fell -9.21 ending the session at 1350.93.
CME Group
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PowerRating) – The world’s biggest futures exchange surged 5.27% or $22.10 to $441.51 after receiving Department of Justice approval to purchase the NYMEX.
Lennar
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PowerRating) – The homebuilder fell 3.65% or .58 cents to $15.33/share on the slipping housing start numbers.
Zions Bancorp
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PowerRating) slipped 10.29% or $3.79/share to $33.37 leading the S&P 500 lower after stating that additional non performing assets are likely per Bloomberg.
Chiquita Brands
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PowerRating) grew 5.41% or .90 cents/share to $17.55 as the Banana seller said its third-quarter loss would be roughly in line with last years.
Housing starts fell 5000 more than analysts estimated, gold added .60 cents to $886.90/oz, Oil fell .90 cents to $133.71 and the VIX climbed .86% to 21.13.
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