Equities Roundup: Stocks Slide Lower As Q3 Ends

Equities Editors Desk  |

Morgan Stanley MSStocks sank slightly lower in early trading and seems to be moving lower after shrugging off mixed economic data as the dismal third quarter comes to a close. Stops have fallen over 10 percent in Q3, the worst performance since the peak of the financial crisis. However, according to a barometer from Thompson Reuters and the University of Michigan, consumer sentiment actually rose to 59.4 in September versus the three-year low of 55.7 from the month before. Chicago manufacturing activity also rose to 60.4 for the month over 56.5 in August. The U.S. also received some lackluster news as well, however, as the U.S. Department of Commerce said that income fell in August, the first decline in two years. Consumer spending fell 0.2 percent, meaning Americans had to dip into their personal savings to keep up. Economic activity from China also came in weaker than the market had hoped. Financials are leading decliners. Bank of America (BAC) made a splash after announcing it plans to add debit card fees for customers. Shares are down over 2 percent. Morgan Stanley (MS) is down almost 8 percent as investors worry about the bank's exposure to Europe. In commodities, oil prices also dipped about 1.5 percent and gold has stayed flat.



DJIA: 11,035.99 (-1.06 percent)
S&P 500: 1,145.19 (-1.31 percent)
NASDAQ: 2,443.75 (-1.49 percent)
Russell 2000: 655.55 (-1.09 percent)

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Companies

Symbol Name Price Change % Volume
AMIC American Independence Corp. n/a n/a n/a 0 Trade

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