Market Wrap: FOMC Searches for Clarity: GDPlop!: Netflix Stock, Plenty to Go 'Round; Focus Media's Un-Friendly Fire

Market wrap-up for November 22nd

End of the Day: Dow Jones down 53.59 to 11,493.72; Nasdaq down 1.86 to 2,521.28; S&P down 4.94 to 1,188.04

The following is a brief summary of events moving markets today:

• Fed wants to be clear...but not too clear: FOMC minutes for November 1st and 2nd showed Fed policymakers discussed how they could offer more clarity to businesses and investors.
  
  Rates have remained at record lows since December 2008. Some have speculated the Fed raising rates would signal confidence in the economy, and may spur businesses to do more investing and hiring...but that's just speculation.
  
  
• GDPlop!: US economic growth during the third quarter was revised rather sharply lower, data from the U.S. Bureau of Economic Analysis showed Tuesday.
  
  The initial quarterly GDP reading (on October 27th) came in at 2.5 percent and was reduced 20 percent to growth of just 2.0 percent. The Street was looking for no revision to the data point.
  
  
• Keepin' the faith: Netflix, Inc. (Nasdaq: NFLX) took one step closer to reality Tuesday, following an effort to raise $400 million, $200 million through the sale of common stock and $200 million in convertible notes. The company also warned that it expects a loss in 2012, before returning to profitability the following year.
  
  In the stock offering, Netflix sold approximately 2.86 million shares at $70.00 per share.
  
  Later in the day, famous one-time short Whitney Tilson lauded Netflix's efforts to raise capital, but called the execution "irritating." Click here for more color on that.
  
  
• Deutche wants to remain A-One!: Deutsche Bank (NYSE: DB) announced today that it is conducting a strategic review of its global Asset Management division. While the Bank remains committed to asset management, this review is part of the Bank’s continual effort to maintain an optimal business mix and be among the market leaders in each of its businesses.
  
  And just like Taxicab Confessions or The Real World, nothing is out of bounds.
  
  
• Focusing on Muddy Waters: Merely one day after shares sank on a negative Muddy Waters report, Focus Media (Nasdaq: FMCN) stunned the investment community with a 14.7 bounce Tuesday. Of course, Focus fell nearly 40 percent Monday, but a come back is still a come back.
  
  Focus held a conference call earlier in the session to refute allegations, Click here for highlights. Further, Chairman Jiang announced he was buying $11 million ADS.

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