Equities Roundup: Choppy Trading For Stocks as Unemployment Rises, Growth Outlook Falls

Equities Editors Desk  |


Hewlett Packard HPQVolatility seems to be the theme on Wall Street today as stocks opened lower, shot up, and then fell lower again as investors remain undecided on how to play the current economic landscape. The European Union's financial predicament has weighed on stocks, but so has a consistent stream of negative economy reports and forecast cuts by financial firms. JPMorgan (JPM) is the latest to cut the U.S. economy's growth estimates and warn of a possible recession. Morgan Stanley (MS), Citigroup (C) and Goldman Sachs (GS) both reduced their outlook earlier this week. The biggest loser today seems to be Hewlett-Packard (HPQ), which saw shares fall as much as 20 percent after the company announced a spin-off of its PC business and a $10.3 billion acquisition of Autonomy Corp. to focus on enterprise businesses. HP is the largest PC maker on the market, ahead of both Dell (DELL) and Apple (AAPL), but aside from Apple, most companies in the space have seen sales shrink over the last year. Oil prices have recovered 1 percent from yesterday's drop off. Meanwhile, the fear of recession and inflation growth continues to push gold prices into record levels. Gold is currently trading at around $1,855, but bullish experts are already eyeing past the $2,000 level.

DJIA: 10,963.64 (-0.25 percent)
S&P 500: 1,140.71 (0.00 percent)
NASDAQ: 2,384.11 (+0.15 percent)
Russell 2000: 664.59 (+2.10 percent)

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Companies

Symbol Name Price Change % Volume
EYZ.DB.E:CA EYZ.DB.E:CA 1.00 0.00 0.00 0

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