© Reuters. Traders work on the floor at NYSE in New York
By Amy Caren Daniel
(Reuters) – U.S. European Central Bank President Mario Draghi said the bank's all-important inflation.
European Central Bank's President Mario Draghi said the bank's all-important inflation Thursday, June 20, 2011 (Clearwisdom.net) on Thursday, October 30th, 2011 |
"The market was really looking for a dovish Draghi and he delivered that he'd be heed," said Bas van Geffen, quantitative analyst at RaboResarch in Utrecht, the Netherlands.
Tesla Inc (O 🙂 tumbled 1
Ford Motor Co (N 🙂 fell 6.9% after the automaker reported a lower-than-expected profit and a full-year earnings forecast.
"The key for investors is a sign of an economic downturn or just a slow one." patch, "said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
In a bright spot, 3M Co (N) rose 3% after the manufacturing conglomerate reiterated its full-year earnings forecast despite slowing growth in high-profile markets search as China.
Two weeks into the second-quarter earnings season, about 77% of the 138 S & P 500 companies have reported so far.
Overall earnings, however, are now expected to fall
Hopes that the Federal Reserve would adopt a looser monetary policy at its rate-setting meeting next week to counter the impact of a protracted US-China trade have helped Wall Street's main indexes scale record levels this month.
At 9:54 am ET, the Dow Jones Industrial Average () down 146.27 points, or 0.54%, at 27.123.70, the S & P 500 () down 15.93 points, or 0.53%, at 3.003.63. The Nasdaq Composite () was down 70.54 points, or 0.85%, at 8,250.97.
Facebook Inc (O 🙂 reversed premarket gains to trade 1.5% lower. The social media said that it would take its toll in the next year.
Align Technology (O) plunged 24.3% and what the biggest loser on the S & P 500 as the orthodontic device maker gave a current-revenue and earnings outlook that came below estimates
Declination issues outnumbered advocers for a 2.08-to-1 ratio on the NYSE and for a 2.07-to-1 ratio on the Nasdaq.
The S & P index recorded 18 new 52-week highs and one new low, while the Nasdaq recorded 47 new highs and 26 new lows.