3 Dow stock, McDonalds (MCD), DuPont (DD) & AT&T (T), reported earnings but investors are trying to evaluate the reports. Earnings were generally good, but...... They all talk about the slowdown in the US, not helpful for the markets. Dow is down 89, decliners over advancers 5-2 & NAZ is down 21. Yesterday wasn't too bad a day for the markets, but reality is hitting today. DuPont had the most interesting report. They beat analyst estimates but growth comes from overseas while US is down 5%. The good & bad was taken on balance as bad, down 2.23.
Home sales in Mar continue to fall. What's disturbing is analysts are talking about the housing recovery as being months away. Oil keeps marching upward, this time to 118. Even with tax rebate checks issued in the next couple of weeks, higher oil prices will hurt. In the last few days I noticed a lot of gas stations. Starting prices at the pumps were around 3.60 & that's going up.
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