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

Quick Links
Real Estate
Luxury Travel
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
Current News & Features
Christie's Expects to Get Over $100M for Defining Modigliani Nude
The $2,600 Twisted Wine Carafe That Even Hannibal Lecter Would Love
VIDEO: Flexjet Promises the Same Dedicated Crew For Every Red Label Aircraft
Rolls-Royce Gets Sporty With Customized Rugby-Inspired Wraith
Can Scott Eastwood's First Western Movie Diablo Be As Good As It Wants to Be?
$50M Housing Development Confirmed for Hong Kong's Esteemed Mount Nicholson
Adrien Brody's Septembers of Shiraz Makes for a Lackluster SDFF Opening
Introduce Your Music-Loving Ears to Your Inner Fashionista With the Stylish PRYMA Headphones
Celebrate Vegetarian Day By Exploring America's Top Veggie Restaurants!
Michelin Guide Awards 10 New York Restaurants With Their First Star
See the complete list
Featured Photo Gallery
See the complete list