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Stocks Slightly Weaker; Blame Banks, Builders

Monday, 4 Feb 2008 | 4:46 PM ET

Stocks were modestly weaker Monday: Rotation today out of financials, builders, retailers, back into drugs and energy.

Volume light.

Banks down 4.0 percent, builders down 4.0 percent, retailers down 2.7 percent.

Retail weak because same store sales for January are due this Thursday; most are expecting poor numbers.

Morgan Stanley didn't help, with their downgrade of the credit card companies on concerns about a consumer recession.

Cisco, by the way, down 4.5 percent. They report after the bell Wednesday. Stock is right near a 52-week low.



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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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