S&P 500 FINANCIALS INDEX
| Value 201.77 | Change -19.41 | % Change -8.8% |
The Alerian MLP Index dropped 6 to 219, the Dow Jones REIT Index was down a whopping 18 to 157 & even high yield (junk) bond funds sold off 1-3%. Meanwhile VIX (Volatility Index) rose 7½ to 55 signaling fear is back on the rise.
Oil took a drubbing today, down 5+:
| CLZ08.NYM | Crude Oil Dec 08 | ....65.28 | .... 5.25 (7.4%) |
After hours, Cisco (CSCO) reported sales 8% over last year (matching expectations) & earnings which beat expectations by 3¢ after subtracting items related to employee compensation & acquisitions. Their stock fell 94¢ during the day but was flat after hours as analysts were trying to understand the release.
Cisco earnings essentially flat but beat estimates- AP
There was really nothing really new to account for the change in directions by the stock markets other than election day enthusiasm gave way to reality. Dow is heading down fast once again, looks like it wants to test 9K. The test may be soon after closing at 9,139 & that support line may not hold.
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