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U.S. Stocks Fall as Kimberly-Clark Drops; Utility Shares Gain

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Zorra Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 03:57 PM
Original message
U.S. Stocks Fall as Kimberly-Clark Drops; Utility Shares Gain
Edited on Mon Oct-25-04 03:58 PM by Zorra
Oct. 25 (Bloomberg) -- U.S. stocks fell on concern profit will slow more than expected. Shares of Kimberly-Clark Corp. led a decline in makers of household products as third- quarter earnings missed analysts' estimates.
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The Standard & Poor's 500 Index fell 0.94, or 0.1 percent, to 1094.80. The Dow Jones Industrial Average lost 7.82, or 0.1 percent, to 9749.99 for its fifth straight decline, its longest streak since the five-day period ended March 24. The Nasdaq Composite Index slid 1.10, or 0.1 percent, to 1914.04.
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A report this week may show the economy expanded at a 4.3 percent annual pace in the third quarter, according to the median estimate of 78 economists surveyed by Bloomberg News. Growth will slow to 3.8 percent this quarter and 3.6 percent the next, economists predict.
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The market has ``a lot of crosscurrents that are all creating hesitancy on the part of investors, a lack of willingness to look out far into the future,'' said Brian Barish, president of Denver-based Cambiar Investors LLC, which manages $3 billion. ``People fear that there's really no upside from this point forward.''

http://quote.bloomberg.com/apps/news?pid=10000103&sid=aiP1Yi_gLaQ4&refer=us
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 04:00 PM
Response to Original message
1. A number of stock prognosticators are telling people...
To sell, sell, sell, starting in January.
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