Daily Market Wrap: November 9, 2011 Wednesday, November 9, 4:13 PM ET
Fears over the debt crisis in Europe are continuing to have an impact on US markets today, sending the Dow down over 400 points.
Italy's 10 year bond yield shot up above 7 percent, a record for the euro era, and alarmingly, a level at which other EU members, most notably Ireland, Portugal and Greece, have required bailouts.
In earnings news, Anheuser-Busch Inbev (NYSE:
BUD) reported a gain in third quarter earnings with a 3.6 percent increase in revenue.
Results were ahead of analyst expectations, helped by strength in emerging markets.
General Motors (NYSE:
GM) reported a decline in third quarter earnings today. However, the company reported an increase in revenue and results beat analyst expectations.
More bad news for Toyota (NYSE:
TM) today. The automaker is recalling more than half a million vehicles worldwide due to steering problems.
Last year, the company lost market share after recalling vehicles for gas pedal problems.
Adobe Systems (NASDAQ:
ADBE) shares are trading down about 11 percent today, after the company announced late yesterday, it is cutting 750 jobs.
The company said the cuts are mainly in North America and Europe.
Tomorrow, we'll take a look at the numbers for jobless claims as well as earnings from Kohl's (NYSE:
KSS), Disney (NYSE: DIS) and Nordstrom (NYSE: JWN).
For Marketnewsvideo.com, I'm Sayoko Murase.
Nasdaq 100 Movers: GILD, TMUS
Related symbols: GILD, TMUS, MU, VRTX
S&P 500 Movers: HOG, KLAC
Related symbols: HOG, KLAC, ENDP, CF
Dow Movers: NKE, CSCO
Related symbols: NKE, CSCO, DIS, DD
Monday Sector Laggards: Drugs, Education & Training Services
Related symbols: ADMP, CORI, BPI, APEI
Monday Sector Leaders: Construction Materials & Machinery, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: USG, BLDR, CSTM, ATI
Friday Sector Laggards: Education & Training Services, Music & Electronics Stores
Related symbols: ESI, BPI, GME, RCII
Monday's ETF with Unusual Volume: PBE
Related symbols: PBE, GILD, MDVN, INO, ZIOP
Monday's ETF Movers: XME, XBI
Related symbols: ATI, CLF, XON, KERX, XBI, XME
XLF, FDM: Big ETF Outflows
Related symbols: XLF, FDM, BRK.B, JPM, CIM, HT
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Related symbols: HRS, SYY, WR, SJI, FGP
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Daily Market Wrap: November 9, 2011
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