Indices ended in the red zone Wednesday. Dell and Intel led the dip in less-than-stellar technology action. Financials such as Citigroup and Bank of America also took a breather. Weak economic reports in Europe and China as well as uncertainty over the Greek debt restructuring deal did little to propel the day. On another note, existing-home sales increased in January. Rising 4.3% to 4.57 million annualized units, sales hit the strongest pace since April 2010. Hewlett-Packard reported quarterly details after the closing bell. The PC maker earned 92 cents a share on revenue of $30.04 billion in the fiscal first quarter. Looking ahead, retailers Kohl’s, Target, HSN and Gap will report quarterly earnings tomorrow.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.