Nasdaq Posts Biggest One Day Drop In Four Months
Nasdaq tumbles 49.95 points or 2.9 percent amid IBM cautious outlook and Nokia profit warning. Dow and S&P also slide as investors weigh tech earnings and future demand, with Caterpillar and United Technologies bucking losses.
MENTIONED IN THIS ARTICLE
IBM
New York
Nokia
Wall Street
Peter Dunny
Wall Street Access
Caterpillar
United Technologies
Standard & Poor
Jack Caffrey
J.P Morgan
S&p
Mortgage rates climb but still historically low
Rates on 30 and 15 year mortgages rose to the highest since early May with 30-year at 5.67 percent and 15-year at 5.00 percent. One year ARM moved to 3.58 percent. Refis slowed but remain a pillar of consumer spending amid easing job market strength.
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Washington
Freddie Mac
Federal Reserve
Alan Greenspan
Wall Street
Fed
Frank Nothart
Mortgage Bankers Association of America
Mark Zandi
Economy.com
National Bureau of Economic Research
United States
Bush
Capitol Hill
June housing construction hits year peak amid steady jobless claims
The Commerce Department shows housing starts rose 3.7 percent in June to a seasonally adjusted annual rate of 1.80 million, strongest since January. Meanwhile Labor reports jobless claims fell 29,000 to 412,000 for the week ending July 12, with four week average at 424,000, signaling potential stabilization in the labor market.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Matthew Ellis
Wachovia
Labor Department
Crude futures rise on tight U S inventory data
New Yorks August crude futures jumped on a mixed inventory report with a 36 cent gain to 31.42 per barrel on the Nymex. Brent for September rose to 28.62 a barrel in London as analysts cited lower crude imports and high refinery use keeping markets tight.
MENTIONED IN THIS ARTICLE
New York
Tim Evans
FR Pegasus
Evans
New York Mercantile Exchange
London
International Petroleum Exchange
Tom Bentz
BNP Paribas Futures
U.S
Energy Information Administration
EIA
Bentz
Iraq
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