Markets Struggle After Harsh Comments from the Fed, AMD Slumps
Indices ended lower on Tuesday after comments from the Federal Reserve's Charles Plosser, who indicated that the newest round of easing may not be as effective as most had hoped. Caterpillar (CAT) saw a large decline in shares after cutting its outlook, and many in the tech industry were down today including Advanced Micro Devices (AMD). Energy stocks also moved down as the sector was hit by a slip in crude-oil prices. Despite the recent declines among most markets, good news also emerged today as US consumer confidence was reported to have reached a seven-month high, signaling a brighter outlook for overall business in the near future.C.H. Robinson Worldwide (CHRW) announced it will be buying Phoenix International Inc. for $635 million and expects to add earnings in the first quarter.
Word on the Street
- US consumer confidence climbs to the highest level since last February.
- Staples Inc. (SPLS) announces plan to cut costs by closing and downsizing many American stores.
- Stocks fall after the Fed's Charles Plosser speaks negatively about the latest round of monetary easing.
- Although the housing market appears to be improving, the Case-Shiller index shows warning signs.
- Barnes and Noble (BKS) makes plans with Sainsbury's to create NOOK products in the UK.
- Advanced Micro Devices (AMD) among several other tech stocks were down on Tuesday.
- Despite selling five million iPhones over the weekend, Apple (AAPL) comes up short of investor expectations.
- Jim Chanos' strategy when it comes to short selling, tech and banking stocks, and hedge funds.
- A four-step survival guide to surviving graduate school and a full-time job.
Published on Sep 25, 2012By InvestorGuide Staff