The Market Story

Inflation Data Sink Stocks

Stock quotes in this article: C , JPM , BAC , BDK , DIS , JBLU  

Despite Citi's advance, several financial subsector indices traded lower. The NYSE Financial Sector Index fell 2%, and the Amex Financial Sub Index eased 0.9%.

Among other losing sectors, the S&P Retail Index slumped 2.4%, the Dow Jones Transportation Average was off 1.7%, and the Philadelphia Semiconductor Sector Index was down 1.6%.

Elsewhere, toolmaker Black & Decker (BDK Quote) slid 6% after lowering its forecast for the fourth quarter and full year. Black & Decker shed $6.82 to $73.31, having touched a 52-week low of $71.95.

As for ratings changes, UBS upgraded Dow component Disney (DIS Quote) to buy from neutral. Shares closed up 25 cents, or 0.8%, to $33.01.

Bear Stearns raised its rating for JetBlue (JBLU Quote) to peer perform from underperform a day after German airline Lufthansa bought a 19% stake in the discount carrier. After jumping 14% Thursday, shares of JetBlue gave back 0.8% to end at $7.09.

Commodity prices lost ground for the session. Crude prices were down 98 cents to $91.27 a barrel. Gold and silver futures were also finished lower.

In Asia's markets, the Hong Kong's Hang Seng fell 1% overnight, and Japan's Nikkei 225 eased 0.1%. European bourses were slightly higher, as London's FTSE 100 added 0.5%, and Germany's Xetra Dax tacked on 0.3%.

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,316.95 1,101.87 2,170.99 34.74
Oil *
78.34
UP
69.98
UP
8.86
UP
19.91
DOWN
0.08
10 Yr
3.47%
SPDR Gold
109.47
+0.68%
+0.81%
+0.93%
-0.23%
Data delayed 20 minutes

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