Disappointing results from 3M, DuPont and United Technologies set off broad selling. Downgrades of Spanish regions hit European stocks. Apple falls despite its new iPad. Facebook results cheer; Netflix do not. Oil falls below $87.
Clearwire is downgraded to 'neutral,' and Halliburton is initiated with an 'outperform.'
Sprint is downgraded to 'underperform,' and UPS is downgraded to 'sector perform.'
Feel free to worry away, but remember you are concerned about a subset, not the whole market.
The firm also downgrades AMD, Intel and Marvell.
Investors also await a key German court ruling Wednesday. Moody's warns it could lower its rating on the US. The US trade deficit widens. McDonald's comp sales miss expectations.
Stocks are higher as investors anxiously await the European Central Bank meeting Thursday and the Fed's meeting next week.
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