A handful of anemic economic reports sent stocks lower this morning and the markets added to their losses later in the day.
There was a slight dip in the number of Americans filing unemployment benefits last week, but not by much. Weekly applications fell by 2,000 to a seasonally adjusted 387,000, according to the Labor Department.
The four-week moving average however, rose to 386,250, which marks the highest level since December.
Meanwhile, the National Association of Realtors is reporting a 1.5 percent drop in existing home sales in May, to an annual rate of 4.55 million units.
That number was in line with economists' expectations.
ConAgra Foods (NYSE:CAG) narrowly beat earnings expectations, though sales fell short. The packaged food company attributed the loss to a change in accounting for pensions.
Chesapeake Energy (NYSE:CHK) has named a new chairman to replace Audrey McClendon, the CEO who has been under scrutiny in the past few weeks. The company also announced it has named five new independent directors, including the new chairman.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
At VF I have met some of the greatest givers from all walks
Launch related slideshow:
Friday 5/24 Insider Buying Report: PMT, VOCS
Thursday 5/23 Insider Buying Report: MDT, WD
Thursday 5/23 Insider Buying Report: SREV, CYCC
Daily Wrap: May 23, 2013
Ralph Lauren and Perry Ellis Disappoint
Daily Wrap: May 22, 2013
Analyst Moves: CRM, CRUS, MRVL
Analyst Moves: PHM, PG, GPS
Analyst Moves: P, WSM, WFT
Friday Sector Leaders: Education & Training Services, Metals & Mining Stocks
Friday Sector Laggards: Auto Parts, Music & Electronics Stores
Thursday Sector Leaders: Apparel Stores, General Contractors & Builders
Friday's ETF with Unusual Volume: KIE
Friday's ETF Movers: ICLN, LIT
SLV, CHIM: Big ETF Outflows
Daily Dividend Report: ANF, FLS, IPG, A, VNR
Daily Dividend Report: TUP, HD, PCP, CBS, CME
Daily Dividend Report: TMO, AAP, HAS, AINV, HPQ
Midday Report: May 24, 2013
Initial Jobless Claims Fall
Initial Jobless Claims Jump by 32k
Weekly Market Wrap: May 24, 2013
Weekly Market Wrap: May 17, 2013
Weekly Market Wrap: May 10, 2013
Week Ahead Market Report: May 13, 2013
Week Ahead Market Report: May 6, 2013
Week Ahead Market Report: April 29, 2013