The major indexes move lower as Cisco's earnings disappoint and jobless claims rise. General Motors reports a profit, but CEO Whitacre will step aside. Crude falls below $76.
The stock plunges on concerns that a softer economy might hurt the networking giant's business.
Traders fret about Chinese growth and the Fed's concession that the economy is slowing. Macy's rises on strong earnings. Cisco results disappoint.
The central bank says it will keep rates low and continue to make cash available if the economy gets worse. Stocks bounce off their lows. Disney earnings impress the Street. Intel and JC Penney fall on downgrades.
Normally a huge profit machine, the investment bank's operations failed to earn a profit for 10 days in the second quarter. It even lost $100 million on 3 days.
Cisco Systems and McDonald's help the Dow gain 45 points. Hewlett-Packard struggles. Oil moves up, while gold drifts lower. Dish Network shares sag.
This isn't an idle question just because Mark Hurd resigned as CEO on Friday. It affected the Dow's Friday close and will affect today's.
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