Stocks End Mostly Lower on Wednesday; Apple Soars (AAPL, CAT)

Although stronger-than-expected US housing data and factory activity was released on Wednesday, the major indices continued their retreat. Several big companies reported poor earnings including Caterpillar (CAT) and Broadcom Corp. (BRCM). Michael Dell and Silver Lake Management raised their bid for Dell (DELL) to gather more support while the next shareholder vote was postponed to August 2. In an effort to reign the focus in on efforts of improving the economy, President Obama spoke on Wednesday about Americans' resilience but warned that the political distractions need to end.
The dollar gained today against most currencies, spurring a profit in gold.

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Published on Jul 24, 2013
By InvestorGuide Staff

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