Stocks Barely Change Ahead of ECB Meeting, US Productivity Beats Expectations

Stocks were mixed again on Wednesday as investors remain cautious until Thurday's ECB meeting. The euro zone has contracted for the seventh month in a row as the economic downturn continues and the Chinese manufacturing output annual rate is expected to hit a 3-year low. FedEx (FDX) lowered its earnings outlook and Verifone (PAY) slid in after hours news. Social media stocks including Facebook (FB) and Yelp (YELP) got a bump today while tech stocks dropped.
General Cable (BGC) completed its acquisition of Alcan Cable for $151 million and Lenovo (LNVGY) agreed to buy Brazilian company CCE. The dollar fell to the euro but increased against the Japanese yen. While it has been a slow summer the next few days should bring market shifts and important news from the ECB.

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Published on Sep 5, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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