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Top Stories MarketWatch First Take: H-P’s Whitman takes charge with big cuts Hewlett-Packard will see its biggest number of job cuts ever, but if Whitman and company succeed they could remake a computer giant much as former IBM CEO Lou Gerstner did.
Latin American Markets: Brazil stocks fall as Greece fears accelerate Brazilian stocks fall on heightened fears that an exit from the euro zone by Greece will result in costly damage for the key export region.
Market Extra: Facebook order canceled? Not so fast A young retail investor relates how his brokerage tells him a Facebook order he cancelled amid the IPO debut’s trading problems on Friday may get filled, at the reduced value. Such anecdotes risk killing already shaky retail interest in stocks.
After Hours: H-P climbs, NetApp tumbles in after-hours trade Tech-sector heavyweight releases better-than-expected quarterly results and a plan to cut thousands of jobs, while a weak forecast from the storage-technology firm sinks its shares.
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May 23, 2012 8:39 PM EDT
Over the past two months, economists’ expectations turned out to be overly positive. After taking the heat for being too optimistic, the pendulum swung into the bearish camp. The expectations were suddenly too low, and that set the market up nicely for a solid technical bounce. The ISM Index on manufacturing came out on Wednesday, and raised the bar a little bit. Yesterday’s numbers were fairly close to estimates. Weekly Jobless Claims were re... full story >>