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Market Recap: Stocks Back Off Record Highs

The Dow, Nasdaq and S&P 500 all retreated a bit from their earlier highs, largely due to an increase in the Producer Price Index and concerns that the Fed, which is supposedly going to ease interest rates, will raise or maintain current rates.

Exxon Mobil (XOM) regained most of its earlier loses for the week, up 1.2%, and a 68% jump in fourth quarter profits helped JP Morga (JPM) gain 0.1%.

Intel (INTC) dropped 5.6% after it announced that fourth quarter profits were down 39%, which led the way for other tech stock declines, IBM, Hewlett-Packard (HPQ), and Apple (AAPL), which released its outstanding earnings after the bell.

This entry was posted on Wednesday, January 17th, 2007 at 9:02 pm and is filed under Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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