Jobless Data Sends Down Major Indices (SBUX, MS)

Major indices were down by over half a percent today, as investors reacted to negative economic data. In particular, despite the fact that there were 2,000 fewer jobless claims last week than the week before, economists had expected there to be 18,000 fewer claims. In corporate news, Starbucks (SBUX) announced that it will discontinue the use of an extract from an insect known as the cochineal, which it had been applying as food coloring. Morgan Stanley (MS) had a better than expected quarter, with earnings per share 61 percent higher than forecasted.

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Published on Apr 19, 2012
By InvestorGuide Staff

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