STOCKS TANK: Here's What You Need To Know

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Thursday, August 15, 2013 Advertisement We got another day in the red after so-so economic data this morning. First the scoreboard: S&P500: 1,661.32, -24.07, -1.43% Dow: 15,112.27,-225.39,-1.47% NASDAQ: 3,606.12, -63.16, -1.72% And now, the top stories: Here's all the bad news: The Philadelphia Fed Manufacturing index collapsed in August, to 9.3 for August from 19.8 in July. Economists were expecting 15.0. The Empire State Manufacturing survey declined to 8.24 from 9.46 and against 10.00 expected. Overall U.S. industrial production was unchanged in June, missing consensus estimates for a 0.3% gain. There was some better data on the jobs and housing front. Weekly jobless claims fell to 320,00 against both a revised prior and consensus estimate of 335,000. The NAHB's homebuilder confidence index ticked 59 against an expected reading of 57. And consumer prices met expectations of a 0.2% gain. Walmart missed revenue estimates by three billion at $116.9 billion, and fell short of earnings by a penny at $1.24. The megachain also lowered net 2013 sales guidance to 2-3% from 5-6% growth. Gold prices had a great day, climbing 2.3% to a near-two-month high of $1,364/oz. Markets cringed at Cisco's announcement that it was laying off 5% of its work force, nor to CEO John Chambers' statement this morning that emerging market growth is flagging. The death toll in Egypt from clashes between the military and supporters of ousted President Mohamed Morsi climbed to 638. The violence briefly tipped Brent-traded oil prices to a four-month high of more than $111. The contract was up 0.58% at the bell. A 13-F filing from George Soros revealed he's purchased 7.8 million put options on an S&P ETF. That means he's probably bearish. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Business Insider RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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