Stocks ended lower Wednesday, despite a late attempt at a recovery, as disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G, fueled concerns about the economic recovery.
Stocks tumbled Wednesday following disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G.
Stocks tumbled Wednesday following disappointing readings on the service sector and employment situation, as well as a cautious outlook from Dow component P&G.
Stock index futures pointed to a slight rise Wednesday, despite a drop in shares for Dow component Procter & Gamble and a sharp rise in planned layoffs for July.
Stocks struggled to stay in positive territory for any length of time Tuesday as profit-taking after Monday's blockbuster rally overshadowed a fifth-straight rise in pending-home sales.
Stocks rallied to their highest closes since November Monday following encouraging economic reports from the U.S. and abroad and following news that auto sales got a boost from the "Cash for Clunkers" program.
Stocks rallied Monday after a pair of encouraging reports on the manufacturing sector, plus strong bank earnings out of Europe and expectations for strong auto sales. The S&P briefly topped 1,000, a level it hasn't seen since November.
Stocks got a quick pop at the open Monday after some strong bank earnings out of Europe and expectations that auto sales will show a boost from the "Cash for Clunkers" program. But the rally quickly fizzled.
Stock index futures indicated a strong opening for Wall Street Monday, helped by European markets that hit a broader-index high for the year on better-than-expected bank earnings.
Stocks wandered around Friday but seemed to lean higher as investors digested a pair of economic reports and news that the Obama administration wasn't suspending its "cash for clunkers" program.