U.S. stocks retreat on Fed stimulus doubts St. L
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Posted On: 08/23/2012 5:08:01 PM
U.S. stocks retreat on Fed stimulus doubts
St. Louis Fed chief ‘sent on a mission of clarity,’ analyst says
NEW YORK (MarketWatch) — U.S. stocks fell sharply Thursday, with the Dow industrials off for a fourth day, after a Federal Reserve official threw cold water on the notion that another round of stimulus is on its way.
“Stocks have been on vacation; they’ve been ignoring things like the fiscal cliff, elections and Europe. The biggest thing they’ve been ignoring is the last earnings season. I just got through listening to companies saying we’re still profitable, but we’re not seeing growth,” said Kim Forrest, equity analyst at Fort Pitt Capital Group Inc. in Pittsburgh.
http://www.marketwatch.com/story/us-stocks-re...=afterbell
St. Louis Fed chief ‘sent on a mission of clarity,’ analyst says
NEW YORK (MarketWatch) — U.S. stocks fell sharply Thursday, with the Dow industrials off for a fourth day, after a Federal Reserve official threw cold water on the notion that another round of stimulus is on its way.
“Stocks have been on vacation; they’ve been ignoring things like the fiscal cliff, elections and Europe. The biggest thing they’ve been ignoring is the last earnings season. I just got through listening to companies saying we’re still profitable, but we’re not seeing growth,” said Kim Forrest, equity analyst at Fort Pitt Capital Group Inc. in Pittsburgh.
http://www.marketwatch.com/story/us-stocks-re...=afterbell
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