It looks like the bulls' run is officially done today, as all three major indexes are lower this morning.
Why are stocks trading lower? Chinese exports, which are generally gobbled up by healthy Western economies, only grew by 1%. This is a disastrous number compared to expectations of 8.6%, and a sign that China will need to further stimulate its own economy, but with the rest of the world stuck in a low-to-no-growth environment.
Let's take a closer look at how the three major indexes are faring and at several stocks making headlines.
Index |
Gain/Loss |
Gain/Loss % |
Intraday Value |
---|---|---|---|
Dow Jones Industrial Average |
(52.90) | (0.40%) | 13,112.29 |
Nasdaq |
(12.74) | (0.42%) | 3,005.90 |
S&P 500 |
(5.21) | (0.37%) | 1,397.59 |
Source: Yahoo! Finance as of 11 a.m. EDT.
Roughly two-thirds of the Dow's components are seeing red, with the biggest loser currently Cisco, down 1.4% on no real news. However, most of the news today is coming off the Dow.
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