Home | Stocks | Commentary | Stocks Tumble Again; Dow & Nasdaq Hit 4-Month Lows

Stocks Tumble Again; Dow & Nasdaq Hit 4-Month Lows

  • August 15, 2007
  • Darren Wong

Credit concerns continued to impact investors, as the fidgety
markets lost ground again on Wednesday. Despite the Fed’s
injection of funds into the banking system, the Dow and S&P
proceeded to close down 1.3%, while the Nasdaq fell 1.6%.

Sales of existing homes fell in 41 states between April and
June. Total sales were 5.91 million units at an annual rate in the
second quarter, an 11% drop from the second quarter of 2006.

Crude oil futures for September delivery
rose 1.3%  to $73.33 a barrel on concerns that a tropical
depression may threaten oil platforms in the Gulf of Mexico. Gold
futures for December delivery rose 0.1% to $680.50 an ounce.


Around Europe, Germany’s DAX added 0.3% to 7,445.90, France’s CAC
40 index lost 0.7% to 5,442.72, and Britain’s FTSE 100 lost 0.6%
to 6,109.30.

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Stocks in Motion

KKR Financial
(
KFN |
Quote |
Chart |
News |
PowerRating) Sells $5.1 Bln In Mortgage Loans; To Lose $40 Mln;
Stock Falls. KFN shares lost 31%.

Macy’s
(
M |
Quote |
Chart |
News |
PowerRating) Q2 Profit Falls On Merger Costs; Guides Q3, Q4; Cuts FY07
Outlook (full story).
M shares dropped 2%.

Agilent
(
A |
Quote |
Chart |
News |
PowerRating) Q3 Profit Falls; Cuts Q4 Outlook (full
story). A shares fell 11%.

Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) Q3 Profit Declines 7.4% (full
story). AMAT shares lost 4%.

Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating) Names Robyn Denholm Chief Executive
Officer (full
story). JNPR shares dropped 5%.

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

 -167.45 12,861.47

NASDAQ

 -40.29 2,458.83

S&P 500

 -19.84 1,406.70

NYSE NASDAQ

Volume

 2,962,996,000 2,240,663,000

Advances

 674 1036

Declines

 2587 2032

Up Volume

 531 397

Down Volume

 2157 1697

New Highs

 6 37

New Lows

 449 196




Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries
Healthcare Credit
Services
Energy Telecom
Internet
Insurance Brokers



Economic
News

Net Foreign Purchases $120.9 bln vs
$63.0 bln consensus

NY Empire State Index 25.1 vs 19.0 consensus

CPI y/y +2.4% vs +2.4% consensus

Core CPI y/y +2.2% vs +2.2% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com

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