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Daily Market Wrap: June 4, 2012
Monday, June 4, 5:19 PM ET

A disappointing factory orders report as well as lingering concerns over the European debt crisis kept the markets under pressure today.

The Commerce Department is reporting a 0.6 percent drop in factory orders in April, which was far worse economists expectations for a gain of 0.2 percent.

A new low for Facebook (NASDAQ:FB) as the stock dipped below $27. The stocked debuted at a price of $38 dollars and has been edging lower ever since.

Chesepeake Energy (NYSE:CHK) announced today it would replace four of its board members. This comes a week after investor Carl Icahn bought a large position in the company. Chesapeake shares are trading higher today on the news.

Tomorrow, we'll take a look at the ISM non-manufacturing index as well as earnings results from Hovnanian Enterprises.(NYSE:HOV)

Looking ahead to the rest of the week, we'll be watching for crude inventories on Wednesday, and initial jobless claims on Thursday.

For Marketnewsvideo.com, I'm Sayoko Murase.

Daily Market Wrap: June 4, 2012 picture
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JNK, FTSM: Big ETF OutflowsJNK, FTSM: Big ETF Outflows
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XLF, KOLD: Big ETF InflowsXLF, KOLD: Big ETF Inflows
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Thursday's ETF with Unusual Volume: ACWVThursday's ETF with Unusual Volume: ACWV
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Daily Market Wrap: June 4, 2012 | Market News Video | Copyright © 2008 - 2015, All Rights Reserved

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