Stocks Give Up Gains, Fall on Goldman Announcement
The major markets fell today, ending a 2-day streak that had many traders
calling for a bottom to the recent market fallout. The day opened green, but bad
news from Goldman Sachs led to selling to close the day.
Goldman Sachs
(
GS |
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Chart |
News |
PowerRating) fell today after a spokesperson for the company
said that as much as 5% of the bank’s workforce may be let go during the annual
evaluation process (full
story).
Honeywell
(
HON |
Quote |
Chart |
News |
PowerRating) rallied today after reporting a nearly 18% gain in
quarterly profit (full
story).
Microsoft
(
MSFT |
Quote |
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News |
PowerRating) also gained today after announcing an 84% jump
in quarterly profit, topping analyst estimates (full
story).
Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) said today that quarterly earnings rose 11% from
the same period last year, matching analyst earnings estimates (full
story).
Gold futures rallied nearly 1% to hit fresh all-time record highs at $914 an
ounce. Crude oil futures rallied around 2% as traders speculated that the U.S.
economic stimulus package could revamp the economy and energy demand levels.
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