Closing Bell, Market Summary: 12/17/2008
12/17/2008:
Dows 8,824.34 down 99.80 (1.12%), Nasdaq 1,579.31 down 10.58 (0.67%), S\&P 500 904.42 down 8.76 (0.96%).
The market started the day off in negative territory and by the afternoon managed to gain the loss back and turn positive with the help of materials, energy and consumer-related stocks but the market could not hold on to the gains and by the closing bell the market had closed down.
Apple Stock Downgraded Due To Concerns over Jobs Health: Jobs was diagnosed with pancreatic cancer in 2003, underwent surgery in 2004 to remove the malignancy. Downgrade occurred due to the lack of a succession plan if Jobs were to leave his post.
Crude Oil again lost ground even with the cutback by Organization of Petroleum Exporting Countries (OPEC) to the lowest level in more than four years.
Chrysler said it was halting its manufacturing for at least a month, beginning Friday December 19, 2008.
Dows 8,824.34 down 99.80 (1.12%), Nasdaq 1,579.31 down 10.58 (0.67%), S\&P 500 904.42 down 8.76 (0.96%).
The market started the day off in negative territory and by the afternoon managed to gain the loss back and turn positive with the help of materials, energy and consumer-related stocks but the market could not hold on to the gains and by the closing bell the market had closed down.
Apple Stock Downgraded Due To Concerns over Jobs Health: Jobs was diagnosed with pancreatic cancer in 2003, underwent surgery in 2004 to remove the malignancy. Downgrade occurred due to the lack of a succession plan if Jobs were to leave his post.
Crude Oil again lost ground even with the cutback by Organization of Petroleum Exporting Countries (OPEC) to the lowest level in more than four years.
Chrysler said it was halting its manufacturing for at least a month, beginning Friday December 19, 2008.
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