David Buik Comments: Stocks Fall For Second Day on Economy Worries - Fox Business Network
On Friday, the Dow Jones Industrial Average lost 57.59 points, or 0.56%, to close at 10213.62, the Standard & Poor's 500 closed lower by 3.94 points, or 0.37%, to 1071.69 and the Nasdaq Composite rose 0.81 points, or 0.04%, to 2179.76. The FOX 50 index lost 4.47 points, or 0.57%, 774.66.
After climbing earlier this week, stocks remained solidly in reverse for a second day following the disappointing economic data on initial jobless claims and the Philadelphia Fed activity index that was released Thursday. Yesterday's data was the main driver of the Dow's 140-point loss and again with today's 50-point loss.
"The market has called time out for any advancement in the value of stocks for the time being," said David Buik with BGC Partners in London in an e-mail.
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