INQUIRER.net: US stocks retreat as weak earnings provide no joy

INQUIRER.net Philippine News for Filipinos

US stocks retreat as weak earnings provide no joy Feb 7th 2013, 22:32 NEW YORK—Stocks slumped on Wall Street Thursday, suggesting that the rally which has pushed indexes close to record levels may have run its course.   The Dow Jones industrial average fell 68 points to 13,918 in late afternoon trading, having earlier slid as much as 134 points. The index has traded largely sideways this week, after logging its best January in almost two decades.   The Standard and Poor's 500 fell 7 points to 1,505 and the Nasdaq composite dropped 18 points to 3,150.   "We had such a big January, some type of weakness, or consolidation, make sense here to us," said Ryan Detrick of Schaeffer's Investment Research in Cincinnati. &nbs... Keep on reading: US stocks retreat as weak earnings provide no joy Media files: Wall-Street1.jpg (image/jpeg)

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