| 15:00 ET Dow -122, Nasdaq -88, S&P -25.94: [BRIEFING.COM] Losses in the tech sector are mounting which is making it very difficult for the broader market to sustain any sort of rebound effort.... Unlike past sessions, there hasn't been much tendency to use the dips as a buying opportunity.... The underlying sense of caution comes after a strong run over the past month, and ahead of tomorrow's employment report which, Briefing.com thinks, holds the potential to tip investor perceptions of the economy back toward a more pessimistic view in light of today's data, an unwillingness by the ECB to lower rates, energy prices that refuse to buckle (crude +$0.70 at $28.50/bbl), and profit concerns for corporate America that are being fueled today by talk of the likelihood of aggressive price cutting in the PC industry... A short time ago, UBS Warburg downgraded Dell Computer (DELL -1.72) to BUY from Strong Buy... NYSE Adv/Dec 1069/1952... Nasdaq Adv/Dec 1284/2412. |
