Stock Losses Add up after Weak Consumer Sentiment
New York (MarketWatch) – U.S. stocks tumbled Friday as a slew of disappointing corporate earnings combined with a bleak consumer-sentiment reading to weigh the market. The Dow Jones Industrial Average / quotes/comstock/10w! I: dji / postponed (DJIA 10.140, -219,26, -2,12%) fell 200 points, or as 2%, to 10,160, with all of its 30 components in the red, then a University of Michigan survey said that July consumer sentiment plunged to levels last seen in 2009. The gloomy report was the latest in a string of downbeat indicators, which cast doubt on the strength of the U.S. economic recovery. Read on consumer sentiment.
On the corporate front, weak income growth was a common theme of Friday, plaguing the quarterly results of General Electric Co. / Quotes/comstock/13 *: GE / applications / nls / GE (GE 14,66, -0,59, -3,87%) and Bank of America / quotes/comstock/13 *: bac / applications / nls / bac (BAC 14,16, -1,23, -7,99%).
New York (MarketWatch) – U.S. stocks tumbled Friday as a slew of disappointing corporate earnings combined with a bleak consumer-sentiment reading to weigh the market. The Dow Jones Industrial Average / quotes/comstock/10w! I: dji / postponed (DJIA 10.140, -219,26, -2,12%) fell 200 points, or as 2%, to 10,160, with all of its 30 components in the red, then a University of Michigan survey said that July consumer sentiment plunged to levels last seen in 2009. The gloomy report was the latest in a string of downbeat indicators, which cast doubt on the strength of the U.S. economic recovery. Read on consumer sentiment.
On the corporate front, weak income growth was a common theme of Friday, plaguing the quarterly results of General Electric Co. / Quotes/comstock/13 *: GE / applications / nls / GE (GE 14,66, -0,59, -3,87%) and Bank of America / quotes/comstock/13 *: bac / applications / nls / bac (BAC 14,16, -1,23, -7,99%).
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