Update to close; adds byline)
Jennifer Coogan, New York, February 6 (Reuters)-U. S.
On Wednesday, after Fed officials expressed doubts about the prospect of more interest rate cuts, the stock index fell for the third consecutive trading day, piercing the early rebound in the strong media --
Industry revenue and push Nasdaq into the bear market. Macy’s Inc (M. N)
Following the release of frustrating sales data, the market has increased its pessimism in the later stages, triggering anxiety about Thursday's sales results from a series of other retailers.
Due to the strong financial performance of Walt Disney, stocks rebounded ahead of schedule from the biggest decline in nearly a year (DIS. N)
Time Warner TWX. N.
The two media groups are optimistic about the growth of corporate profits outside the financial industry.
Earlier in the afternoon, after two Federal Reserve bank governors said the policy, the market lost momentum.
Even if the economy slows sharply this year, manufacturers need to be wary of rising inflationary pressures.
The comments undercut speculation that after the release of the report on job creation and services, the Fed needs to cut interest rates urgently again --
Industry growth that shows the economy is falling into recession.
Subodh Kumar, chief investment strategist, said: "I think they are just trying to moderate the comments that you have seen in the last few days that the Fed needs another inter-meeting cut, see fccc/cp/& Associates in Toronto.
"The market is dealing with this uncertainty.
The Dow Jones industrial average.
DJI lost at the age of 65. 03 points, or 0.
53%, at 12,200. 10.
S & P 500. SPX fell 10. 19 or 0.
76%, at 1,326. 45.
Nasdaq Composite Index.
IXIC fell 3082 points, or 1.
33%, at 2,278. 75.
Nasdaq is down 20 now.
The peak of 3% from October marks the official end of the bull market that began in October 2002.
CME Group Limited
New York Mercantile Exchange and New York Mercantile Exchange
All fell 17.
6% as investors fear the Justice Department's call for restructuring in the financial sector --
Futures exchanges may block the proposed merger of the two exchange operators.
CME shares fell to $485.
On the 25 th, the New York Mercantile Exchange closed at $87. 88.
Macy's shares fell.
$ 6%, $23.
The department store said on the 94 th that the sales of stores opened for at least one year fell by 7.
1st day of last month %
See for details 【nN06300508]A $147.
Rio Tinto, an Australian mining company (RIO. AX)(RIO. L)
BHP Billiton, a competitor (BHP. AX)BHP.
I failed to stir up enthusiasm in America. S. equity market.
After the financial performance of Disney and Time Warner was optimistic that companies outside the financial sector performed well, the stock market began to rise.
Disney's stock soared.
$ 8% to $31.
Time Warner shares rose 2% to $15 after more than Wall Street expected.
The company said it expects profit growth to meet or exceed Wall Street expectations. (
Jennifer Kugan reports;
Editor Gary cross)