Eurozone may be weaker than previously thought. That pressured stocks. The Dow Jones Industrial average dropped 140 points to 17,750. Nasdaq fell 54. The s p 500 was off 18. As bob pisani points out, the very things that had been driving the market higher for nearly three months seem to be starting to shift. Reporter stocks were down today as three key parts of the recent rally reversed a bit. First the china problem. Chinas been stable recently but the Economic Data has been choppy, kind of hard to read. Overnight the manufacturing numbers were weaker than expected. And that is predictably causing commodities and commodity stocks to weaken around the world. Second dlem is the dollar, notably weak this quarter. Its been a big help to commodity stocks and u. S. Based exporters. Some are starting to question whether the dollars fall is now over. Indeed, the dollar staged a reversal today. The third problem is oil. We know that its off the february low of roughly 26. But its dropped about
Eurozone may be weaker than previously thought. That pressured stocks. The Dow Jones Industrial average dropped 140 points to 17,750. Nasdaq fell 54. The s p 500 was off 18. As bob pisani points out, the very things that had been driving the market higher for nearly three months seem to be starting to shift. Reporter stocks were down today as three key parts of the recent rally reversed a bit. First the china problem. Chinas been stable recently but the Economic Data has been choppy, kind of hard to read. Overnight the manufacturing numbers were weaker than expected. And that is predictably causing commodities and commodity stocks to weaken around the world. Second dlem is the dollar, notably weak this quarter. Its been a big help to commodity stocks and u. S. Based exporters. Some are starting to question whether the dollars fall is now over. Indeed, the dollar staged a reversal today. The third problem is oil. We know that its off the february low of roughly 26. But its dropped about
Paint wet from the exploding dipak. Police had four nearby schools shelter in place for an hour. There was another bank robbery just before this one happening in nearby cambridge. Police are trying to figure out if that robbery and the one here in arlington are connected. A tragic ending to the search for missing hiker. Search crews believe they have found a body in the river. She lives behind here. The hope she would return with a tale of some unexpected great adventure. New hampshire fish and game officials found the body this that tip today let searchers to area called garfield ridge. There had been heavy rain in conditions were treacherous. To he and the river. Neighbors are devastated they did not to talk to her. Whenever said she lived to get out in the Great Outdoors and do this 26 my on our 26 mile trek. The family asking for privacy. She worked for as a radiologist and they are also grieving. Some started off the morning with Severe Weather. The system has moved out, that is t
Billion due to serious improprieties and misrepresentations and disclosure failures that occurred prior to its purchase by Hewlett Packard. In other words, its fraud. After autonomys founder and ceo Michael Lynch was fired by meg whitman, sources close to the company tell me a Senior Executive from autonomy came forward with evidence of widespread accounting misrepresentations that occurred before it was bought by hp. Hp began an investigation and concluded that these accounting improprieties inflated the value by 5. 3 billion. The ceo then relied on audited financials when making a bid to buy the company. Those financials were audited but there were plenty of investors out there who questioned autonomys growth rate. Sources close to the company allege that autonomy pursued a number of avenues to make margins, growth rate and overall value appear far higher than it actually was. The company was selling computer hardware. Desk top computers, its a Software Company at a loss to supplemen
1800743cnbc. You want to get a sense of just how important this i hate to even say it anymore fiscal cliff is . Today we got an incredible employment report from the labor department. With 146,000 new jobs. I was looking for 90,000. The Unemployment Rate dropping to 7. 7. I thought it might be 8 . And all this despite the effects of Hurricane Sandy. Who knows how high we could have been if it werent for that darn hurricane . Yet the market barely blinked. Yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. Hence the mixed performance of the averages today. Sure, dow gained 81 points, but the s p barely budged, edging up 29 . And the nasdaq actually declined. 38 , led once again by the slip sliding away apple, which you know i like, but how many times during a particular show can i say i like it . So with that in mind, whats the game plan for next week . First off, perhaps the most important day of the week is monday. But n