Stocks continue mixed from yesterday. Dow & NAZ are little changed while advancers led decliners by 25%. The Labor Dept reported wholesale prices increased 1.4% in May, the largest increase in 6 months. Core inflation was up only .2%, but the gross number was upsetting as that could trigger higher prices. Other reports on manufacturing & new housing starts were also disappointing. Oil is having a quiet day with change measured in pennies. USO, the proxy for oil on NYSE, is down 47¢ to 108.52.
Goldman Sachs (GS) started the trading day reporting Q1 earnings fell 10%, but beat estimates (sound like retails chains!). That was good enough for a higher stock price of 90¢. More major brokerage firms will be reporting this week. Speaking of retailers, Best Buy (BB) reported a 7% decline in profits but higher EPS on fewer shares, beating forecasts. This time the stock is down 1.54. Adobe, (ADBE), the maker of Photoshop, reported higher earnings in Q2 largely from strong international business, down 46¢ on doubts about going forward.
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