|
The Nasdaq composite fell 25.76 points, or 1 percent, to 2,577.97. Consumer staples rose with help from a 1.7 percent increase by Coca-Cola Co. and a gain of 1.2 percent at Kraft. Nike Inc. rose 2.9 percent after reporting strong demand and higher prices for its shoes and clothing. Volume was much lower than usual at 3.5 billion shares, which can make prices more volatile. Many investors are on the sidelines because they're worried that a recession in Europe would hurt U.S. companies, said Bernie Kavanagh, vice president for portfolio management at Stifel Nicolaus. "Any hint of positive data, we think you have the potential for a pretty nice rally," either before the end of this year or early in 2012, Kavanagh said.
[Associated
Press;
Copyright 2011 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor