And in today's news....
ZOMFG!!!!!!!! START YOUR DOOM CLOCK COUNTERZ!!!!
I have more PROOF that we are all going to die very soon...LOOK AT THIS:
http://articles.moneycentral.msn.com/In ... =1,1381516and I quote (don't worry...I have bolded the important stuff for you suckas not in the know)
$this->bbcode_second_pass_quote('', 'T')he Dow Jones industrials ($INDU) ended a six-day winning streak today as a rising dollar and
falling energy prices pulled stocks lower.
The Dow fell 94 points, or 0.9%, to 10,197. The Nasdaq Composite Index ($COMPX) was down 18 points to 2,149, and the Standard & Poor's 500 Index ($INX) shed 11 points to 1,087.
The
losses were widespread. Only four of the 30 Dow stocks showed gains, along with only 58 S&P 500 stocks and 19 stocks in the Nasdaq-100 Index ($NDX.X), which tracks the largest Nasdaq stocks.
In addition, the Russell 2000 Index ($RUT.X), which tracks small-cap stocks, fell 12 points, or 2.1%, to 580.
After the close, however, Walt Disney (DIS) reported better-than-expected fiscal-fourth-quarter revenue and earnings. The shares, which were off 0.8% in regular trading, jumped 4% to $30.20 after hours.
The sell-off started when the government reported larger-than-expected supplies of crude oil, gasoline and heating oil. That cut the knees out from energy shares, which had been the strongest segment of the S&P 500 this month.
The selling accelerated when a government auction of 30-year Treasury bonds didn't go as well as hoped, sending bond yields briefly higher. The bond market later recouped its equilibrium.
Crude closed at $76.94,
down nearly 3% on the day and its lowest close since Oct. 14, when it closed at $75.18 a barrel.
Gasoline inventories rose by 2.5 million barrels, an unexpected increase, and distillate stockpiles, which include heating oil and diesel, added 300,000 barrels.
The S&P 500 Energy exchange-traded fund (XLE) was down 2.2% to $56.91 today and was the worst performer among the ETFs that track the 10 sectors of the index.
The ETF had been up 7.9% for November after Wednesday's close, tops among the ETFs that track the S&P 500. The gains for energy stocks were a big reason the S&P 500 crossed 1,100 today and Wednesday and a big reason why the index couldn't maintain the 1,100 level today.
That is proving to be a very strong resistance level, and
there's a
worry that stocks could fall hard if the index can't get above 1,100.
Exxon Mobil (XOM) was down 1.4% $71.90. Chevron (CVX) shares dropped 1.4% to $77.42.
The weakness in the energy sector offset gains in techs from Hewlett-Packard's (HPQ) announcement late Wednesday that it will buy 3Com (COMS) for $2.7 billion, or $7.90 a share.
3Com was up 31.1% to $7.46 this afternoon. Hewlett-Packard was off 0.6% to $49.70.
Wal-Mart's weak outlook
Wal-Mart Stores' (WMT) fourth-quarter outlook did not ease the concern of investors who'd hoped the retail giant would have some optimistic comments about the upcoming holiday shopping season.
Wal-Mart said earnings from continuing operations will be between $1.08 and $1.12 per share in the
current quarter; analysts are expecting $1.12 per share.
Wal-Mart also said third-quarter profit rose to $3.23 billion, or 84 cents per share, from $3.14 billion, or 80 cents per share, a year earlier. That topped Wall Street's expectations of 81 cents per share.
Shares of Wal-Mart, a Dow component, were up 0.5% to $53.24. They had been as high as $53.74.
Rival discount retailer Kohl's (KSS) said third-quarter net income rose 20% to $193 million, or 63 cents a share, from $160 million, or 52 cents a share in the year-ago period, topping expectations by a nickel. Sales increased by 6.5% to $4.1 billion.
Kohl's expects fourth-quarter earnings of $1.14 to $1.24 a share, compared to the Wall Street target of $1.23 per share. Kohl's shares were up 0.1% to $54.64.
Gold hits a new intraday high, then fades
Gold for December delivery hit yet another intraday high this morning of $1,122.30 an ounce before pulling back. The metal settled at $1,106.60, down $8.
Gold closed Wednesday at a new high of $1,114.60 as investors continued to turn to the commodity as a hedge against inflation and on bets that the Federal Reserve won't raise interest rates anytime soon.
Through Wednesday, gold for December delivery had risen in every New York trading session and is up 6.4% this month.
Jobless claims declineInitial jobless claims fell by 12,000 to a seasonally adjusted 502,000 in the week ended Nov. 7, the Labor Department said this morning -- the fewest since the beginning of January. Economists had expected first-time claims to drop to about 510,000.
Continuing state claims declined 139,000 to a seasonally adjusted 5.63 million, the lowest since March.
Initial claims are up 6% from year-ago levels, and continuing claims are up 51%.