Consumer’s are spending less, because their wages are flat, and that’s going to continue to hurt corporate sales and growth. Chevron’s earnings slide (but they still made nearly $4 billion) and the end looks near for CIT Group, one way or another.
It’s Tomorrow’s News Today.
US stocks slip in a fitful session, after the ISM-Chicago report derails a lot of recovery talk. Still, the major indexes posted their sharpest quarterly gains in about a decade.
DJIA loses 30 (0.3%) to 9712, after falling as much as 133 early; but the index gained about 15% for the quarter. S&P loses 4 (0.4%) to 1057, Nasdaq Comp drops 2 to 2122.
The numbers are pretty eye-opening. For the Dow, it was the best quarter overall since the 4Q of 1998. It was also the index’s best 3Q since 1939, when it rose 16.8%. It’s the index’s second straight rising quarter, after falling for the previous six. For those two quarters, the index is up about 28%, its best two-quarter string since the two quarters than ended in March 1987, when it rose 30%.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « May | ||||||
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 | ||
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