Retail Walloped, Obama Warns, Rates Slashed
Stocks closed mixed today on the retail sector being walloped by poor sales and Obama warning that the economic recovery may take many years. However, positive news of Citibank’s agreement to allow Bankruptcy judges to modify home mortgages lifted stocks well off their worst levels. The Bank of England slashed rates to the lowest level since 1694 in an effort to stem the brewing recession. The DJIA fell -27.24 to 8742.46, the Nasdaq climbed +17.95 to 1617.01 and the broad based S&P 500 added +3.08 to 909.73.
Wal-Mart
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Thinkorswim Group
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SUPERVALU
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Live Nation
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Oil fell 0.93 cents to $42.32, gold added $12.80 to $854.50 and the VIX fear index fell 1.91% to 42.56.
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