Wait a minute ... stocks can go down!? Yes, they can, and that's the general direction they headed today. In what seems like ages since our screens were filled with red, most major indexes, save the Utilities and the VIX, headed lower. Much of the action is being attributed to earnings, which held up fine, though a few big companies such as GE did drop the ball. This is an important week for earnings, as nearly 200 S&P 500 companies are set to report.
Even though red was the color of the day, losses were modest, with the Industrials shedding 55 points while the Transports fell 0.33%. The Utilities edged out a small gain (0.05%) while the Nasdaq fell 0.64% and the S&P 500 declined 0.40%. Small caps were the worst performer, with the Russell 2000 index falling 0.78%.
Overseas markets generally fared better, with most markets in Europe in the green. The exception was Spain's ... Log in or subscribe to continue reading.