The Dow Loses 13 Points, Nasdaq Falls 11
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The Dow lost 12.90 points today to close at 12,315.58, the Nasdaq fell 11.26 points to close at 2,431.60,
and the S&P 500 lost 1.48 points to close at 1,411.56. The Federal Reserve left interest rates unchanged at 5.25%, which was expected by most. However, the Fed's report said the economy is slowing, partly from a 'Substantial Cooling' in the housing market. Some analysts now think the Fed will continue to be neutral near-term, but then may expect a cut by the end of next year.
Volume was modest with 2.79 billion shares trading on the NYSE and 2.01 billion trading on the Nasdaq.
Decliners topped Advancers by a margin of 18:14 on the NYSE and 19:11 on the Nasdaq.
In individual stories, Mamma.com (NASDAQ: MAMA) gained 80.6% after the Company announced the launch of its Video Search engine in Beta format. Mamma.com, in conjunction with the Pixsy Media Search Platform, now offers its users video search capabilities on www.mamma.com. Spartech Corp (NYSE: SEH) fell 15.5% after reporting Q4 EPS of $0.37 (ex-items) vs. consensus of $0.36. Revenues were $375.0 million vs. $378 million consensus. The Company is providing earnings guidance for fiscal 2007 of $1.55 to $1.60 per diluted share vs. consensus of $1.62.
Tomorrow, investors will be looking for economic data on Retail Sales and Retail Sales (ex-auto) (8:30AM EST), Business Inventories (10:00 AM EST) and Oil Inventories (10:00AM EST).
and the S&P 500 lost 1.48 points to close at 1,411.56. The Federal Reserve left interest rates unchanged at 5.25%, which was expected by most. However, the Fed's report said the economy is slowing, partly from a 'Substantial Cooling' in the housing market. Some analysts now think the Fed will continue to be neutral near-term, but then may expect a cut by the end of next year.
Volume was modest with 2.79 billion shares trading on the NYSE and 2.01 billion trading on the Nasdaq.
Decliners topped Advancers by a margin of 18:14 on the NYSE and 19:11 on the Nasdaq.
In individual stories, Mamma.com (NASDAQ: MAMA) gained 80.6% after the Company announced the launch of its Video Search engine in Beta format. Mamma.com, in conjunction with the Pixsy Media Search Platform, now offers its users video search capabilities on www.mamma.com. Spartech Corp (NYSE: SEH) fell 15.5% after reporting Q4 EPS of $0.37 (ex-items) vs. consensus of $0.36. Revenues were $375.0 million vs. $378 million consensus. The Company is providing earnings guidance for fiscal 2007 of $1.55 to $1.60 per diluted share vs. consensus of $1.62.
Tomorrow, investors will be looking for economic data on Retail Sales and Retail Sales (ex-auto) (8:30AM EST), Business Inventories (10:00 AM EST) and Oil Inventories (10:00AM EST).
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