It is hard to say what is going on in the economy with the housing mess, the European mess and the stock market looking to break out but not sure if it has the strength. The proxy to the economy, in transportation averages fell today 2% and all of this after a strong close yesterday.
U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, as concern grew that Greece was moving closer to default and the Federal Reserve said policy makers were divided on buying more assets.
Apple Inc. (AAPL) decreased 2.3 percent, reversing a 3.3 percent rally and snapping an eight-day advance. Industrial shares had the biggest decline in the S&P 500 among 10 groups as Deere & Co. tumbled 5.4 percent after lowering its 2012 U.S. farmer revenue forecast. The Dow Jones Transportation Average, a proxy for the economy, slumped 2 percent as CSX Corp. (CSX) and Union Pacific Corp. (UNP) retreated more than 2.8 percent.
U.S. Stocks Fall on Greece as Apple Erases Rally - Bloomberg
U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, as concern grew that Greece was moving closer to default and the Federal Reserve said policy makers were divided on buying more assets.
Apple Inc. (AAPL) decreased 2.3 percent, reversing a 3.3 percent rally and snapping an eight-day advance. Industrial shares had the biggest decline in the S&P 500 among 10 groups as Deere & Co. tumbled 5.4 percent after lowering its 2012 U.S. farmer revenue forecast. The Dow Jones Transportation Average, a proxy for the economy, slumped 2 percent as CSX Corp. (CSX) and Union Pacific Corp. (UNP) retreated more than 2.8 percent.
U.S. Stocks Fall on Greece as Apple Erases Rally - Bloomberg
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