After an incredible three-month run the Dow Jones Industrial Average
Index |
Gain (Loss) |
Gain (Loss) Percentage |
Intraday Value |
---|---|---|---|
Dow Jones Industrial Average |
(200.2) |
(1.6%) |
12,729 |
Nasdaq |
(51.1) |
(1.7%) |
2,996 |
S&P 500 |
(21.9) |
(1.6%) |
1,360 |
Source: Yahoo! Finance.
What's causing the commotion?
It's the economy, stupid! The market's broad slide today is anchored to disappointing news about the US economy, which disappointingly dovetails well with Friday's less-than thrilling unemployment data. While Greek debt fears seemed to have subsided from their peak only a few months ago, the Eurozone is back to haunt us. The whole region is marred with debt and weak economic prospects, and now many are looking to Spain as the next ticking time bomb.
Of course we can't heap all of our woes on Europe, high gas prices and concerns about Iran continue to cause real worries for investors. Not only that but The Fed has indicated there would be no additional quantitative easing, news that hit the 2012 Dow Starlets Bank of America
Despite the news though they are still the top two performing Dow stocks for the year, and continue to look cheap with regard to their price to book ratio. Taking another step back, the Dow is still up more than 4% for the year which isn't a bad pace.
An inflection point?
Alcoa
After Alcoa it's JP Morgan reporting on the 13th, and then a flood on the 17th with IBM
How to play it
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