Daily Market Wrap: October 19, 2012 Friday, October 19, 5:01 PM ET
Stocks are getting crushed after a slew of disappointing earnings reports. Heading into the last hour of trading, The Dow was down 1.7%, the S&P was down 1.8% and the Nasdaq was lower by 2.3%.
Investors worried after McDonalds (NYSE:
MCD), General Electric (NYSE: GE) and Microsoft (NASDAQ: MSFT) posted lower than expected quarterly results.
Microsoft's profit sank on a drop in PC sales. McDonald's earnings were hurt by a strong dollar and GE came in with lower than expected revenue.
In other news, purchases of existing homes fell 1.7% in September, which was pretty much as expected.
For Marketnewsvideo.com, I'm Kristin Bianco.
Nasdaq 100 Movers: GILD, TMUS
Related symbols: GILD, TMUS, MU, VRTX
S&P 500 Movers: HOG, KLAC
Related symbols: HOG, KLAC, ENDP, CF
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Related symbols: NKE, CSCO, DIS, DD
Monday Sector Laggards: Drugs, Education & Training Services
Related symbols: ADMP, CORI, BPI, APEI
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Related symbols: USG, BLDR, CSTM, ATI
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Related symbols: ESI, BPI, GME, RCII
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Related symbols: XLF, FDM, BRK.B, JPM, CIM, HT
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Daily Market Wrap: October 19, 2012
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