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Traders Disappointed by Fed’s Lack of Action, Auto Market Declines (CMCSA, BKW)

By: , dated August 1st, 2012
On Wednesday stocks declined after the Federal Reserve failed to offer new policy measures and weak manufacturing reports were released from the US, Europe and China. Investors now await tomorrow’s ECB meetings and look for concrete actions for the euro zone. Earlier today the market experienced a software glitch affecting trading for about 140 different stocks, including 9 from the Dow. The US auto sales report including General Motors (GM) and Ford (F) announced softer than expected sales for the month of July. On a positive note, Comcast (CMCSA) showed a quarterly profit that was higher than expected due to additional services as well as Allstate (ALL) which also made quarterly gains. The dollar inched higher to both the euro and the yen and all three metals saw drops in trading.

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