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Market Update : 
Turbulent Week, Gloomy Outlook
Author: 123jump.com Staff
123jump.com
Last Update: 6:18 PM ET July 18 2008


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Tech benchmarks fell after investors sold Google, Microsoft and AMD stocks. Google dropped 8% after earnings and click through rates declined. AMD reported wider than expected loss. Citigroup rose it reported a loss of $2.5 billion, smaller than estimated and wrote down $12 billion in assets. Merrill Lynch traded weak on higher than expected loss. European markets edged higher on interest in financial stocks.

 
Dollar edged lower and traded near record low against euro to $1.5846 and fell against yen to 106.95.

Yields on U.S. bonds increased to 4.09% with 10 years of maturities and increased to 4.66% with 30-year of maturities.
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