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Wednesday, October 27, 2010

Markets Slammed As Dollar Jumps

Market Recap: October 27th, 2010

The major U.S. equity indices are trading lower Wednesday as investors grow more conservative about the central bank's attempts to stimulate the economy. Durable goods orders rose 3.3% in September to a seasonally adjusted $199.16 billion, beating consensus estimates for a rise of 2.5%. New-home sales in September rose 6.6% to a seasonally adjusted annual rate of 307,000, ahead of consensus estimates of 4.2%. In corporate news, Whirlpool (NYSE:WHR) shares are trading 4.84% lower at $80.43 after the company reported that profit fell 9.2%, despite sales strength in Latin America and Asia. The Dow Jones Industrial Average (DJI) is trading 1.23% lower at 11,032.13, the S&P500 (INX) is trading 0.99% lower at 1,173.95 and the Nasdaq Composite (IXIC) is trading 0.57% lower at 2,483.17.


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