Stock Market Watch

Stocks Down Sharply in Early Trading

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Stocks are down sharply in early trading today following some weak economic data released in the euro zone and the U.S. Investors are expected to remain cautious on the last trading day of what has been a very volatile quarter for global equity markets.

At last check, the Dow Jones was trading 0.86% lower at 11,058.43, the S&P 500 was trading 1.42% lower at 1,243.89, and the Nasdaq was trading 1.45% lower at 2,445.89. Stocks had ended on a mixed note in Thursday’s trading session.


All sectors in the S&P 500 are falling in trading today. Conglomerates are leading the losses in the S&P 500 in early trading. At last check, Conglomerates were trading 2.54% lower. Basic Materials stocks are currently trading 1.27% lower, while Energy stocks are currently trading 1.36% lower. Transportation stocks are currently trading 2.03% lower.

Among the major losers in early trading today are Ingersoll-Rand Plc (NYSE: IR), which is currently trading 15.83% lower at $26.90, Wynn Resorts Limited (NASDAQ: WYNN), which is currently trading 5.07% lower at $119.18, AZZ Incorporated (NYSE: AZZ), which is currently trading 6.02% lower at $37.77, Micron Technology Inc. (NASDAQ: MU), which is currently trading 12.27% lower at $5.15, and Yandex NV (NASDAQ: YNDX), which is currently trading 7.43% lower at $20.92.

Among the major gainers in trading currently are Global Crossing Ltd. (NASDAQ: GLBC), which is currently trading 7.03% higher at $25.72, and Level 3 Communications Inc. (NASDAQ: LVLT), which is currently trading 5.96% higher at $1.60.

On the economic front, a report released by the Commerce Department earlier today showed that consumer spending in the U.S. slowed in the month of August as incomes fell for the first time in two years. According to figures released by the Commerce Department, consumer spending rose 0.2% in August and personal income fell 0.1% in August.

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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