Stocks Continue to Slide
Stocks are lower on Thursday, enduring a choppy morning session. Early losses turned to gains, that were then erased as all the major indices slipped into negative territory.
BHP Billiton
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PowerRating) was rebuffed in its approach for rival Rio Tinto
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PowerRating), a deal that could potentially be worth $100 billion. The news is lifting a number of mining stocks, including Anglo American
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PowerRating) (read more), Arcelor Mittal
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PowerRating) (read more) and Alcoa
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PowerRating) (read more).
Ford
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PowerRating) reported a narrower Q3 loss than expected (read more).
After the bell on Wednesday, Cisco Systems
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PowerRating) reported a 37% surge in profit , but the stock is down more than 7% today (read more).
American International Group
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PowerRating) net income fell 27% in Q3 (read more).
Crude oil is higher, currently trading above $97 per barrel and the U.S. dollar is declining again today, but above the record intra-day low set yesterday.
The ECB and BoE left interest rates unchanged, at 4% and 5.75% respectively.
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