Stock markets pulled back Thursday as stronger-than-expected economic data continued to increase speculation that stimulus measure may be scaled back. The Dow Jones Industrial Average declined 1.47 percent to close at $15,112.19, while the S&P 500 Index fell 1.43 percent to close at $1,661.32. On Thursday, the Labor Department reported initial jobless claims declined 15,000 to a seasonally adjusted 320,000 for the week ended August 10th, which was the lowest level since October 2007. "In the long term, tapering is a good thing, it's a sign of an improving economic outlook," said Peter Jankovskis, co-chief investment officer at OakBrook Investments. "But right now, investors are used to having the Fed support bond prices, so in the short term, investors are focused on the negative if that stops."
Ford Motor Company (NYSE: F) shares traded in the range of $16.22 to $16.73 Thursday before settling to close at $16.43, a decrease of 2.72 percent. The stock appears to be facing some resistance at the $16.92 and $17.49 levels with some support at $16.39. Shares of Ford Motor Company have gained approximately 27.0 percent in 2013.
More information on Ford Motor Company and access to the free equity report can be found at:
www.WallStreetFundamentals.com/F
The Coca-Cola Company (NYSE: KO) shares traded in the range of $39.02 to $39.40 Thursday before settling to close at $39.09, a decrease of 1.11 percent. The stock appears to be facing some resistance at the $39.13 and $39.31 levels with some support at $38.89. Shares of Coca-Cola have gained approximately 7.8 percent in 2013.
More information on Coca-Cola and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KO
3M Co. (NYSE: MMM) shares traded in the range of $115.64 to $116.92 Thursday before settling to close at $115.85, a decrease of 1.50 percent. The stock appears to be facing some resistance at the $116.90 and $117.45 levels with some support at $114.16. Shares of 3M have gained approximately 25.0 percent in 2013.
More information on 3M and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MMM
Pfizer Inc. (NYSE: PFE) shares traded in the range of $28.76 to $29.09 Thursday before settling to close at $28.80, a decrease of 0.79 percent. The stock appears to be facing some resistance at the $28.86 and $29.24 levels with some support at $28.70. Shares of Pfizer have gained approximately 15.0 percent in 2013.
More information on Pfizer and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PFE
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