Markets Drop, Wal-Mart Disappoints, Citigroup Returns Billions

  • August 7, 2008
  • David Goodboy

The major indexes gave back gains today due to rising oil prices, jobless claims and lackluster earnings. The DJIA fell -225.12 to 11430.95, the Nasdaq dropped -22.64 to 2355.73 and the S&P 500 dipped -23.06 to 1266.13.

Citigroup
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Wal-Mart
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American International Group
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Brookdale Senior Living
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Oil climbed $1.41 to $119.99, gold fell another $2.50 to $880.50 and the US Dollar advanced against the Euro.

Market Snapshot

Dow

 -225.12 11430.95

NASDAQ

 -22.64 2355.73

S&P 500

 -23.06 1266.13

Economic
News

Consumer Confidence (Jul): Consensus 50.0, Prior 50.4

ADP Employment (Jul): Consensus -60K, Prior -79K

Chain Deflater (Q2): Consensus 2.3%, Prior 2.7%

Employment Cost Index (Q2): Consensus 0.7%, Prior 0.7%

GDP-Adv. (Q2): Consensus 2.3%, Prior 1.0%

Initial Claims (07/26): Consensus 395K, Prior 406K

Chicago PM (Q2): Consensus 49.0, Prior 49.6

Auto Sales (Jul): Consensus NA, Prior 4.9M

Truck Sales (Jul): Consensus NA, Prior 5.0M

Average Workweek (Jul): Consensus 33.7, Prior 33.7

Hourly Earnings (Jul): Consensus 0.3%, Prior 0.3%

Nonfarm Payrolls (Jul): Consensus -75K, Prior -62K

Unemployment Rate (Jul): Consensus 5.6%, Prior 5.5%

Construction Spending (Jun): Consensus -0.3%, Prior -0.4%

ISM Index (Jul): Consensus 49.2, Prior 50.2

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