Stocks Fall After Mixed Economic Reports and European Worries (CG, JNJ)

Stocks were down on Thursday as investors cut back expectations for Bernanke and a new round of stimulus. Japan and South Korean economic data was increasingly weak and along with the euro zone drove down world markets. In the US, consumer spending rose the most in the last five months and income increased for the eighth month straight. In corporate news, Johnson & Johnson (JNJ) agreed to pay $181 billion to settle its dispute and Carlyle Group (CG) purchased DuPont Performace Coatings for $4.9 billion.
Costco (COST) sales were up for the last month but computer-equipment maker Ciena (CIEN) saw shares fall 20%. The dollar inched lower to both the euro and the yen with the euro on track to hit its strongest level in several weeks.

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Published on Aug 30, 2012
By InvestorGuide Staff

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