Equities Roundup: Stocks Trade Flat After Massive Sell-Off

Equities Editors Desk |

Merkel SarkozyWall Street is relatively quiet today after yesterday's 3.5 percent drop as economic fundamentals take a backseat to volatile investor emotions. The decline may have been worse had institutional buyers not stepped in to provide a bottom. U.S. leaders, including President Barack Obama and U.S. Treasury Secretary Tim Geithner have been pressuring European officials to be more proactive in dealing with its debt crisis, minimizing any uncertainty regarding the financial fates of Greece and other troubled economies like Italy, Portugal, Ireland and Spain that could fall victim to a domino effect. The delay stems from reluctance by Germany's Chancellor Angela Merkel and French President Nicolas Sarkozy to spend their nations' taxpayer money to bailout or quarantine ailing Greece. While stocks may have taken a break from the downturn, commodities are not as lucky. Gold prices have dropped 3 percent today to under $1,700 an ounce and silver has been hammered by over 12 percent to $32 an ounce. Oil prices dipped below $80 on fears that demand will shrink.

Major U.S. Stock Indices

DJIA: 10,707.53 (-0.25 percent)
S&P 500: 1,131.14 (+0.14 percent)
NASDAQ: 2,468.26 (+0.51 percent)
Russell 2000: 647.56 (+0.64 percent)

In other news:

  • Shares of HP (HPQ) jumped when news leaked that Meg Whitman would replace Leo Apotheker as CEO, but are now down about 5 percent after the official announcement was made. [Marketwatch]
  • Amazon (AMZN), who's original Kindle launch had its thunder stolen by Apple's (AAPL) tablet, is expected to be the best bet to produce a legitimate iPad-killer. [Bloomberg]
  • General Electric (GE) legend Jack Welch says if the government wants to stimulate job growth, it should get out of the way and give businesses more incentives to invest in new ventures. [CNBC]
  • Here's one person's 10 Commandments for crash. What are yours? [Business Insider]
  • Wall Street braces for a brutal third quarter earnings season, but may also hold surprises. [The Street]

Check back as more news develops.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Symbol Name Price Change % Volume
GRSHU Gores Holdings Inc. Unit n/a n/a n/a 0 Trade


Emerging Growth

Liberty One Lithium Corp

Liberty One Lithium Corp, formerly Peace River Capital Corp is engaged in the exploration and production of oil and gas in Ontario and Montana.

Private Markets


Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…

MyForce, Inc.

As parents, we constantly worry about the safety of our loved ones. The media bombards us with incidents from across the nation school shootings, frequent assaults on campuses, and crimes…