Daily Market Wrap: November 7, 2012 Wednesday, November 7, 4:16 PM ET
All the major indices were sharply lower today on the heels of President Barack Obama's re-election.
On the economic front, the Mortgage Bankers Association is reporting a 5 percent drop in weekly mortgage applications last week, due to Hurricane Sandy which battered the Northeast.
Kraft Foods (
KRFT) said earnings for the third quarter rose 13 percent. ¬†The newly¬†independent packaged food-maker also backed its outlook for 2013.
Time Warner (
TWC) beat earnings expectations, while revenue fell 3 percent, missing expectations of $6.98 billion.
Also among earnings Macy's (NYSE:
M) also topped earnings estimates but issued weak guidance for the holiday season. ¬†
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Disney (NYSE:
DIS) and Nordstrom (NYSE: JWN).
For Marketnewsvideo.com, I'm Sayoko Murase.
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Related symbols: CLBS, SVRA, SDRL, EPE
Thursday Sector Leaders: Grocery & Drug Stores, Education & Training Services
Related symbols: KR, SFM, BOXL, LAUR
Wednesday Sector Laggards: Waste Management, General Contractors & Builders
Related symbols: BHTG, NEWA, WLH, HOV
Thursday's ETF with Unusual Volume: KIE
Related symbols: KIE, MET, GNW, AIZ, ACGL
Thursday's ETF Movers: FM, FGD
Related symbols: BFR, SUPV, TUP, HP, FGD, FM
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Related symbols: SBUX, LLY, USB, CL, IEX
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Daily Market Wrap: November 7, 2012
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