Fears About State of Chinese Economy Bring Stocks Down (AMZN, HPQ)
Major indices were down today as continued signs that the Chinese economy might be softening up. Signs of deflation, plus the recent reduction in China's growth target, combined to cause investor anxiety. In corporate news, Amazon's (AMZN) stock price was up as investors celebrated the purchase of Kiva Systems in anticipation of further automation of Amazon's workforce. The Wall Street Journal is reporting that Hewlett-Packard (HPQ) is about to undergo a major restructuring involving the combining of their printer and personal computer groups.
Word on the Street
- Concerns about China's growth brought major indices down today.
- Homebuilders worked fewer hours in February than they did in January.
- Amazon (AMZN) just purchased Kiva Systems, a producer of robot technology.
- Treasury yields continue their rally.
- The Commerce Department will impose tariffs on Chinese solar panels.
- Hewlett-Packard (HPQ) is reported to be combining its PC and printer groups.
Published on Mar 19, 2012By InvestorGuide Staff