Stock Market Watch

Stocks Extend Losses in Mid-Day Trading

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Stocks have extended their losses in mid-day trading, with all three major indexes down sharply currently. Stocks have been pushed lower by comments from a spokesperson for German Chancellor Angela Merkel. The spokesperson said that progress on stabilizing the euro zone debt crisis would be slow.

The comments came after European policymakers said at the G20 meeting in Paris over the weekend that they will come up with a comprehensive plan to stabilize the euro zone at the October 23 summit in Brussels.
All three major indexes have fallen sharply as initial optimism about the euro zone debt crisis faded away. At last check, the Dow Jones was trading 1.43% lower at 11,477.49, the S&P 500 was trading 1.46% lower at 1,206.67, and the Nasdaq was trading 1.73% lower at 2,621.69.

Among the major gainers and losers in mid-day trading are Brigham Exploration Company (NASDAQ: BEXP), which is currently trading 19.79% higher at $36.37, Citigroup Inc. (NYSE: C), which is currently trading 1.44% lower at $27.99, El Paso Corporation (NYSE: EP), which is currently trading 23.84% higher at $24.26, Bank of Ireland (ADR) (NYSE: IRE), which is currently trading 19.88% lower at $6.65, Kinder Morgan Inc. (NYSE: KMI), which is currently trading 6.17% higher at $28.55, Wells Fargo & Company (NYSE: WFC), which is currently trading 6.97% lower at $24.81, and Anadarko Petroleum Corporation (NYSE: APC), which is currently trading 3.94% higher at $73.35.


On the economic front, a report released by the Federal Reserve earlier today showed that factory output in the U.S. rose for the third consecutive month in September. According to figures released by the Fed, output at U.S. factories climbed 0.4% in September, following an increase of 0.3% in the month of August. Overall industrial production, meanwhile, rose 0.2% in September.

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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