US stocks drop again
Friday, May 04, 2012
On May 3, U.S. stocks dropped, sending the Standard and Poor's 500 Index down for a second straight day due in part to less than promising data analysis from the service industries, according to Bloomberg.
The S and P 500 was also affected by investors waiting out the jobs report - released today - which they figured could provide a more accurate gauge of growth in the United States, the news source stated.
“It’s a bump in the road,” Jeffrey Saut, chief investment strategist at Raymond James and Associates in St. Petersburg, Florida, told the news source. His firm oversees more than $300 billion. “The economic data has turned softer. I wouldn’t be surprised to see the jobs report tomorrow disappoint. All that will do is allow the market to work off its overbought condition.”
Yahoo's stocks have been affected as of late with turmoil prevalent throughout the company. According to a separate Bloomberg report, Third Point, a Yahoo investor that is fighting for representation on the company's board, recently criticized CEO Scott Thompson for alleged inaccuracies in his educational record.
Investors concerned about the day-to-day developments of the S and P 500 can stay updated on their online investments by reading about the latest stock trends online.
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