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MORNING MARKET REPORT

Raymond Teo (July 3rd, 2008) Writes:
NEW YORK - The Dow sank into a bear market on Wednesday as US stocks fell on growing concerns about the toll that record oil prices are taking on the economy and corporate profits. The Dow Jones industrial average tumbled 166.75 points, or 1.46 per cent, to 11,215.51. The Standard & Poor’s 500 Index lost 23.39 points, or 1.82 per cent, to close at 1,261.52, while the Nasdaq Composite Index slid 53.51 points, or 2.32 per cent, to 2,251.46. LONDON - UK stocks shed 1 per cent, extending the previous session’s sharp losses as miners fell on weaker coal prices and Marks & Spencer slumped after a profit warning, though drugmakers rose. The FTSE 100 closed at 5,426.3 points, down 53.6 or 0.98 per cent. FRANKFURT - The DAX index ended at 6,305.42 points, down 10.52 or 0.17 per cent. PARIS - The CAC-40 index closed at 4,296.48 points, down 44.73 or 1.03 per cent. TOKYO ...

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