Streak Ends for S&P Despite Positive News for Labor Market (MRK, HRB)

On Tuesday the major indices finally ended their winning streaks. Despite positive reports from the jobs market showing a decrease in firings, declines in the tech industry by Apple (AAPL), Google (GOOG) and others dragged down the Dow, S&P and Nasdaq. The Dow Jones was able to recover slightly at the close of the bell and edge into the green. Red Hat (RHT) tumbled after its rating was downgraded from "buy" to "neutral." Leading the gainers on Tuesday was Merck & Co. (MRK), who saw shares rise 3.2% on an extension of their drug trial.
The IRS announced that up to 600,000 tax returns filed by H&R Block (HRB) have been completed incorrectly and could be delayed by about six weeks. European shares edged close to a four-and-a-half-year high while the euro fell against the euro. The Japanese yen finally gained against the dollar for the first time in a week.

Word on the Street

Interesting Tidbits

Published on Mar 12, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

Posted in ...