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.
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