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Facebook Stock Rises After Hours and Apple Releases its Newest Product (FB, AAPL)

By: , dated October 23rd, 2012
Stocks dropped significantly today after several disappointing quarterly earnings reports and continuing fears for global economies. It was announced that Spain’s economy contracted at 1.7% during the third quarter, faster than the previous quarter at 1.3%. The Dow Jones was down 250 points, and the S&P 500 and Nasdaq ended lower as well. After hours both Facebook (FB) and Netflix (NFLX) posted results – Facebook reported a loss while Netflix matched investor expectations for its quarterly profits. UPS (UPS) gained on Tuesday after posting estimates and shifting their forecast for 2012. Commodities fell on Tuesday due to economic worries and the poor earnings, with gold dropping more than 1% to $1,700 an ounce. Many await the latest policy statement from the Fed to be released on Wednesday, but don’t expect any additional easing ahead of the US presidential elections.

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