Stocks wobble as earnings and stimulus shape move higher
Wall Street advanced modestly after Pfizer Wyeth deal boosted merger hopes amid a shaky market. Caterpillar and Home Depot job cuts weighed as TI announced layoffs and earnings fell. Investors await Obama stimulus details with markets in a hold pattern.
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Recession Drives Massive Layoffs Across Major Firms
Pfizer and Wyeth deal alignment to 68 billion includes 8,000 job cuts. Sprint Nextel plans 8,000 layoffs. Home Depot eliminates 7,000 positions. General Motors to cut 2,000. Caterpillar announces nearly 20,000 cuts worldwide. Unemployment may reach 10 percent amid 2 million predicted net losses this year.
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Market in Review Gainers and Losers Notable Spurt
Market review highlights notable gainers and losers with mixed results across sectors. Names, indices, and percentage moves appear fragmented, but indicate a cautious trading session with variable performances.
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