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US Stocks Slide as Debt Debate Remains Unresolved (JNJ, C)

By: , dated October 15th, 2013
As the debt ceiling deadline closes in, the markets have started to fall off as investors look for signs of progress. House Republican leaders made comments about their continuous work to find an end to the shutdown and plan to vote tonight. The Dow Jones saw the biggest drop on Tuesday and ended about 130 points lower. Citigroup (C) posted disappointing results for Q3 by missing estimates for both earnings and revenue. Intel’s (INTC) earnings were mostly flat for their third quarter but beat expectations on the Street. Johnson & Johnson (JNJ) shared positive reports and raised its outlook for the year. European stocks saw gains today and in currency markets the dollar was mixed on debt worries. Commodities fell as well while the 10-year Treasury yield ended higher.

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