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.

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Published on Sep 25, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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