Indices Slip After Taking Back Gains
Stocks fell on Wednesday, after Deutsche Bank
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PowerRating) announced it will write-down losses of up to $3.1 billion related to the recent credit crunch. However, despite the heavy losses, the company still expects to report profit growth from a year ago.
The ISM’s non-manufacturing index, fell to 54.8 in September, from 55.8 last month.
Chipmakers Intel
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PowerRating) and Advanced Micro Devices
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PowerRating) are under pressure, along with Micron Technology
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PowerRating), which reported its third straight quarterly loss.
The U.S. dollar rallied moderately versus the euro, and surged against on the Yen.
Crude fell slightly today, after the weekly inventory showed supplied dipped in the most recent week.
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