It appears European fears are taking the day off, replaced by confirmation that China isn't going to lead the world out of recession alone. The Middle Kingdom's economic troubles, which have been under-reported in this country thanks to our own persistently high unemployment and the sexier Greek euro-tragedy, have come into the spotlight. Inflation worries for the world's second-largest economy caused the Chinese government to aggressively tighten interest rates, but the slowdown that caused continues to persist. The new stimulus will focus on infrastructure spending, which if successful in jump-starting demand, will hopefully catch the attention of politicians here at home.
With that in mind, let's take a closer look at how the major indexes are faring and drill down on a few stocks making headlines.
Index |
Gain/Loss |
Gain/Loss % |
Intraday Value |
---|---|---|---|
Dow Jones Industrial Average |
(39.13) |
(0.31%) |
12,457.02 |
Nasdaq |
(27.62) |
(0.97%) |
2,822.50 |
S&P 500 |
(5.53) |
(0.42%) |
1,313.33 |
Source: Yahoo! Finance.
The Nasdaq is faring the worst of the three major indexes, which doesn't come as a surprise, given the technology sector's relative weakness; it's lagging all but the energy sector today. Yesterday's Dell
Dow component Hewlett-Packard
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