Markets were mixed on all kinds of news. Dow slipped 44 while NAZ & S&P500 were essentially even & advancers slightly beat decliners on only 1.2B volume, light again. The VIX (volatility index) was below 18, below the high levels which had been prevailing. But when it comes down quickly, market pressures follow. Financials were down, typically more than 1%, helping drag Dow lower. MBIA (MBI) & Ambak (ABK) declined 5-7% on more worries that their AAA ratings were in danger. These are 2 large bond insurers, a decline in their ratings could be felt in all entire bond markets.
WalMart (WMT), a Dow stock & member of the S&P 500 Dividend Aristocrat list, was down 1.37 on fairly good earnings but a cautious outlook for this qtr. There are a lot of cautious attitudes for US businesses these days!
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