Author: 123jump.com Staff
123jump.com
Last Update: 4:02 PM EDT August 24 2006
Three economic reports, earnings disappointment in retail stocks and light trading on both exchanges did not help market averages. Jobless claims fell by 1,000 at the end of the last week, July durable goods orders fell 2.4% and new home sales declined. It was the new home sales report that hurt the market sentiment the most. Home sales declined 4.3% from June and 21.6% from a year ago. Chicos reported 10% higher earnings but same-store sales at core group of stores fell. Stock fell 25%.
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