Wenesday Market Note: Retail Sales Likely to Weigh on Stocks
Too bad, because coming into the session, investors were seeking to add to the continuation of the stock market's six-day winning streak, which left the S&P 500 down less than one percent for the year. Funny how losing less is starting to feel like a win.
After the close, Intel delivered better-than-expected results. The world's number one chipmaker saw a 34 percent increase in revenue, leading to a quarterly profit of $2.89 billion, or 51 cents a share, compared to a 7 cent loss a year ago. Intel shares rose 5 percent to over $22 a share after hours.
News from Asia helped those markets advance. City-state Singapore said second quarter GDP increased 26 percent from the previous quarter and upped its 2010 GDP growth forecast to 13 percent to 15 percent.
That's all history now--U.S. stock futures have turned lower, so prepare for a negative opening.
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