Stocks Decline On Spotty Economic Report (MCD, ERIC)

The stock market was weak today as a report from the Federal Reserve showed economic decline in several regions of the US. Gas prices are up, hiring has slowed, orders to factories are down and house prices continue to decline. Abroad, the OPEC meeting ended with members failing to agree on output quotas for the first time in twenty years. Germany is currently pushing for a 7-year extension on Greece’s bonds, which could have a negative impact on financial markets worldwide. In corporate news, McDonald’s (MCD) earnings increased by less than was expected. Ericsson (ERIC) has entered the mobile payments market, which is growing more competitive by the day.

Word on the Street

• Stocks declined on mixed report from the Federal Reserve.
• Many regions of the US experienced an economic decline in April and May.
• McDonald’s (MCD) saw an increase in earnings in May, but by less than expected.
• For the first time in 20 years, OPEC members failed to reach an agreement on output quotas.
• Germany has proposed extending Greece’s debt by seven years.
• The St. Louis Federal Reserve Bank President warned of the dangers of a US default.
• An anticipated tax rate hike in Brazil has the country’s stocks tumbling.
• Ericsson (ERIC) is launching their own mobile payment platform.

Interesting Tidbits

• It’s always good to be prepared for when you have no time to think.
• Misdirection may not be a useful technique for presentations.

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