Fed Stimulus If Economy Worsens, Markets Close Lower
Minutes from the Federal Reserve's meeting indicated that additional stimulus measures may be implemented if the economy worsened. The markets closed lower with the Dow dropping 48 points to 12,604 while Nasdaq fell 14 points to 2887. On the upside
Complete Genomics (Nasdaq: GNOM) announced that its breakthrough Long Fragment Read technology dramatically improved whole genome sequencing accuracy. Ocean Power Technologies (Nasdaq: OPTT) will jointly develop with Lockheed Martin (NYSE: LMT) a 19 megawatt wave energy project in Victoria, Australia. Shares of HomeTrust Bancshares (Nasdaq: HTBI) climbed in its market debut. On the downside Shares of the nation's largest dairy processor Dean Foods (NYSE: DF) fell as the continued drought in the Midwest lifted animal feed prices. Quantum (NYSE: QTM) stock continued falling after warning of that earnings will miss estimates on Monday. Shares of Huntsman (NYSE: HUN) extended its losses after Jefferies downgraded the stock last week. In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 792.