The selling offsets decent earnings from Cisco Systems and Home Depot. Techs fall, led by Microsoft and Intel. Michael Kors rises. Gold and oil slip. The major averages have fallen more than 6.6% since mid-September.
The major averages see small gains but fall for the week as sparring begins between the White House and House Speaker Boehner on fixing the fiscal cliff. Apple rallies after three big losses. Disney sags. Kayak jumps after merger with Priceline.com.
Investors worry about the economy, the fiscal cliff and Europe. Disney and Nordstrom earnings disappoint. Apple continues its slide since September. McDonald's monthly sales fall for the first time in 9 years. Gold and crude oil move higher.
Investors fear failure to fix the fiscal cliff will lead to recession. European stocks slump after ECB President Draghi says even Germany is weakening. Apple has fallen 20% since September. Bank and energy stocks fall. Oil and gold slip.
The blue chips rise thanks to gains for Caterpillar, Boeing and United Technologies. Crude oil tops $88; gold moves over $1,700. Intel rises despite a report Apple may stop using its chips. Chipotle jumps.
The major indexes move ahead in afternoon trading. Apple rises after selling 3 million iPads over the weekend. Crude oil and gold move higher. Investment bank KBW agrees to merge with Stifel Financial. Toyota profits jump.
A rising dollar, weak Chevron earnings and stress on Apple shares slam stocks. The national unemployment rate ticks up to 7.9% as more people look for work. Oil and gold sag. Starbucks jumps nearly 10%. Restoration Hardware soars after its IPO.
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