Here's What You Need To Know About What Happened Today


DJIA: Up one point to 11,204.

NASDAQ: Down 7 points to 2522.

S&P 500: Down 5 points to 1212.

Oil: Down 1.39% or $1.18 to $83.94 a barrel.
Gold: Down 0.05% or $0.60 to $1153.10 an ounce.
Silver: Up 0.56% or $0.10 to $18.33 an ounce.

Now here’s what you need to know as you leave work today:

  • Financial stocks slid today over uncertainty as to what provisions would be included in the government’s financial reform package. Both regional (KRE) and larger financial (KBE) ETFs were hit on the eve of the first reform bill vote tonight.
  • BlackRock took a significant hit today due to disappointing earnings at the asset management giant. The below expected earnings were a result of the continuing struggle to fully adjust to the acquisition of Barclays Global Investors. 
  • Caterpillar produced impressive earnings results and returned to growth notching its first profit increase in seven quarters. Caterpillar bettered estimates and is expecting a street beating $38 to $42 billion in sales in 2010.
  • Greece continues to dominate global market concerns as the country has yet to receive funds from the proposed IMF-EU bailout. Pimco’s El-Erian feels that Greece’s problems could quickly spread to other PIIGS states if action is not taken soon.
  • Tomorrow, Goldman Sachs faces significant headline risk as several employees take the stand in the U.S. government’s inquisition into the causes of the financial crisis. Testimony will be given by Lloyd Blankfein and Fabrice “Fabulous Fab” Tourre.

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