Stocks Fall, Dollar Continues to Sink
Stocks declined on Friday, with financial stocks struggling once again. The
recent credit market woes, coupled with the slumping housing market continue to
put pressure on the financials.
In deal news, 3Com
(
COMS |
Quote |
Chart |
News |
PowerRating) agreed to be acquired by Bain
Capital for about $2.2 billion.
Alcatel-Lucent
(
ALU |
Quote |
Chart |
News |
PowerRating) is rising on reports that Patricia Russo, the
company CEO, is under pressure to present a restructuring plan.
The U.S. dollar sunk to a fresh record low versus the euro (read
more). Commodities continue to benefit from the dollar decline, with a
number at or near record levels.
Crude oil climbed to a new record high, above $83 per barrel and Gold is
trading at its highest level since 1980.
|
|
|
Market Snapshot
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||
|
|
|
|