Independent, Fee-Only Financial Advisor
Wednesday, July 28, 2010
A gloomy economic assessment from the Federal Reserve added more doubts to the fragile economic recovery, sending the Dow to its first loss in a week. The day's losses were driven by mixed corporate earnings and growing macroeconomic worries, with healthcare stocks leading the declines. The Fed's latest beige book report of economic conditions showed only modest advances in retail sales across the country. Housing and construction numbers remained weak, while bank lending was still tight. DJIA -39.81 Nasdaq -23.69 S&P 500 -7.71.