Stocks Continue to Slide
Stocks are lower 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 is little changed today versus the euro but higher on the Yen.
Crude oil is higher, after the weekly inventory showed supplied dipped in the most recent week.
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