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Honeywell (HON), Caterpillar (CAT) and Wachovia (WB) missed their earnings estimates. Crude oil is pushing towards $90 a barrel, and is weighing on the market.....Dow red 152 Points, Naz -30.22
Wachovia (WB) reported third quarter earnings of $0.90 per share, compared to the consensus estimate of $1.04. Tech companies fared better. Google (GOOG), Sandisk (SNDK) and Advanced Micro Devices (AMD) beat their earnings estimates....The major indices are posting losses with concerns over deteriorating credit quality......Dow -195 Points, Naz -37.36 rtq.
stronger-than-expected profits from Goog drawing a number of analyst upgrades and also taking under consideration - how important of a component this company is for sector, should have been more than enogh of reason for mrkt upside today imho.....dow still -210 levels, Naz -39.05
major indices are off their lows after a modest broad-based pickup in buying interest...still though trading down more than 1.2%....there is no reasonable justification imho in today's decline...if anything Goog's earnings should have been the catalyst for a screaming upside today....but again, if Fed is going to cut rate end of month they need week mrkts and if noticed credit crunch worries all of a sudden are reappearing again!!!! - so, shake the tree in full force at this point.....Dow -176 Points, Naz -35.27 rtq.
Dow components continue in the red with 3M (MMM $88.14, -6.57), Caterpillar (CAT $74.89, -2.80) and Honeywell (HON 58.70, -1.96) being some of the laggards....Dow -210 Points, Naz -44.12 rtq.
