Stocks Spooked, Housing Starts Slammed, Jobless Jump
Stocks closed down today, but well above their worst levels, after being spooked by disappointing earnings and recession fears. The lowest housing starts since records were started in 1959 combined with jumping jobless claims rattled the market with the DJIA losing -105.30 to 8122.80, the tech heavy Nasdaq dropping -41.58 to 1465.49 and the broad based market barometer S&P 500 slipping -12.74 to 827.50. Provided the severity of today’s economic data, the stock market has shown surprising resilience in the face of the ugly figures, which is a positive indication.
Microsoft
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Comerica
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eBay
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Apple
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Oil dropped 0.12 cents to $43.00, gold eased ahead $8.70 to $858.80 and the fear index VIX added 1.83% to 47.27
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