Thursday, October 18, 2012

Little changed

Disappointing results from Intel and IBM weighed down most large-cap tech stocks on Wednesday. The reports also appeared to underscore a weakening IT market. Housing starts climbed 15%.  Of the 37 S&P 500 companies that have reported third-quarter earnings, 23 have beat analysts' estimates, according to S&P Capital IQ. But they still forecast that overall S&P 500 earnings will decline 0.7% -- the slowest growth in three years. The dollar slipped against the euro. We expect more volatility today and tomorrow.