Monday's rally seems so long ago.
If the markets overseas are any indication of where U.S. stocks are headed, it's back to the reality that, despite efforts to restore confidence in the financial industry, the economy is likely in a deep recession.
In Asia, the major stock indexes were down slightly, led by Hong Kong's Hang Seng, which fell nearly 5 percent. Japan's Nikkei was up 1 percent. In Europe, stock indexes were mostly down. In London, faced with a new jobs report showing the unemployment rate rose to 5.7 percent, the FTSE fell 3 percent. The DJ Stoxx index fell 2.7 percent.
As we ready for the market open in the United States, several companies will be in the spotlight today: J.P Morgan, Wells Fargo and American Airlines report earnings. Also, we'll be watching Intel's stock. Its quarterly earnings released after yesterday's market close beat Wall Street's expectations by a penny a share.
Posted by: Beau James | October 15, 1908 8:24 AM | Report abuse
Posted by: Beau James | October 15, 1908 8:35 AM | Report abuse
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