Stocks were down again today as the Federal Reserve warned of an impending fiscal tightening, and the situation in Greece remained unresolved. In corporate news, J. C. Penney (JCP) took $163 million in losses in Q1. Southwest Airlines (LUV) had to delay delivery on 30 jets in order to save an estimated $1 billion.
Word on the Street
- The situation in Greece and pessimistic statements from the Fed sent stocks down today.
- The FTC is fining Sketchers $40 million for its misleading statements.
- Oil is at a 6-month low.
- The Federal Reserve is concerned about a “fiscal tightening”.
- J. C. Penney (JCP) took losses in Q1.
- Southwest (LUV) had to delay delivery on 30 jets to save comney.