Home Wealth  Money Daily Market Wrap: November 16, 2011

Daily Market Wrap: November 16, 2011

Posted: Nov. 17th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Continued fears over the European debt crisis kept stocks under pressure for much of the day, with light trading volume.

The Labor Department reported today that the consumer price index fell by a seasonally adjusted 0.1 percent in October. Excluding food and energy costs, the core reading of consumer prices rose 0.1 percent.

Also on the economic front, the Mortgage Bankers Association reported a drop in weekly mortgage applications last week.

Target (nyse: TGT - news - people ) was among the retailers reporting earnings today. The discount retailer posted fiscal third quarter earnings that were well ahead of estimates.

Abercrombie and Fitch (nyse: ANF - news - people ) missed earnings estimates by a wide margin, and analysts at Jeffries lowered their price target for shares of the teen clothing retailer to $80.

Tech giant Dell (nasdaq: DELL - news - people ) reported adjusted earnings that beat expectations but revenue fell short. Dell warned that it is now forecasting revenue at the lower end of it's outlook, due to an industry-wide hard drive shortage, as a result of the flooding in Thailand.

The Wall Street Journal reports that Citigroup (nyse: C - news - people ) is considering eliminating roughly 3000 positions. About a third of the cuts would be in the company's securities and banking division, according to the newspaper.

Tomorrow, we'll take a look the numbers for jobless claims, as well as earnings from Dollar Tree and Gamestop ().

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Write a Story/Review about this topic

Post a Comment

 
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Party With Tennis Pros at First-Ever Pre-US Open Taste of Tennis Week in NYC
Ixion Jet Concept Forgoes Windows for Floor-to-Ceiling Digital Screens
Handmade $65K Confederate X132 Hellcat Speedster Limited to Only 65 Motorcycles
Circuit-Ready Renovo Coupe is the First All-Electric American Supercar, Boasts 0-60 in 3.4
Indie Artist Allman Brown Should Be Next On Your List of Music Finds
Black Caviar Company Becomes First to Offer Previously Illegal Russian Osetra to the U.S.
Landscape Designer Keith Williams Talks Million-Dollar Gardens & Shark Tanks That Double As Guest Houses
Need a Gift Idea? How About a Private Dinner in the Tower of London While Surrounded by 12,000 Diamonds?
What's Cooler Than a Bluetooth Speaker? One That Floats!
Epic Milkshakes and Fabulous Floats to Cool You Off During Summer Months
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE