Morningstar Market Roundup: Week through 11/17/00
Stocks rocked by earnings, vote recount, Fed's inflation-watch.
Disappointing earnings, the continuing saga of the never-ending election, and the specter of inflation kept the pressure on the markets this week.
Stocks started the week with a bombshell from Hewlett-Packard (HWP), which reported earnings of $0.41 a share, $0.10 below Wall Street expectations. That, combined with anxiety over the election ballot recounts in Florida, sent the Nasdaq Composite index and the Dow Jones Industrial Average sharply lower. While both recovered most of their losses that day, the Nasdaq closed below the 3,000 level for the first time in more than a year.
Odyll Santos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.