Euro Falls to 16-month Low, Stocks End Flat for the Day (URBN,AAPL)

After a big selloff in the middle of the day, stocks bounced back and major indices ended relatively unchanged for the day, with the Dow slightly down and the S&P 500 and Nasdaq slightly up. The euro fell below $1.27 against the dollar today, the lowest it has been in 16 months, a signal of investor uncertainty about the economic stability of the eurozone. In corporate news, Urban Outfitters (URBN) CEO Glen Senk announced his resignation today. Senk has occupied the post since 1994, and the news sent the company's stock down over 18 percent.
He will be moving to a privately held jewelry company in February. On the heels of rumors that it would be getting into the textbook business, Apple (AAPL) sent out media invitations for "an education announcement" on the 19th in New York City.

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Published on Jan 11, 2012
By InvestorGuide Staff

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