| Euro Deal Drags On Stocks Futures; Gold Prices Slump and Stocks Down In Weak Trade; Intel Cuts Guidance |
| News - Financial News |
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Stock futures followed Europe's markets lower Monday as Europe wrestled the implications of Friday's euro zone treaty arrangement.Dow futures slipped 104 points. Nasdaq 100 futures dropped 16.75 points and S&P 500 futures were down 11.6 points.Financials led the declines among blue chips, with American Express (AXP) down 2% and Bank of America (BAC) and JPMorgan (JPM) off more than 1% each on the Dow.In Europe, stocks, the euro and bonds all slid lower in early trade on concerns over Friday's awkward financial accord. The European Central Bank reportedly stepped in to shore up some bond markets. [Read the full article] The Nasdaq lost 1.6%, while the Dow Jones industrial average shed 1.5%. Volume today remained down from Friday's levels across the board.Among big-cap stocks, Texas Instruments (TXN) slid 2% in strong turnover, as chip stocks fell after Intel (INTC) cut its fourth-quarter revenue guidance. TI has dropped below its 50-day moving average after rallying to support at that key level Friday. It has a weak IBD Composite Rating of 48 out of a best-possible 99.On the upside, Dollar General (DG) jumped 1% in fast trade, as the discount retailer cleared a 40.81 buy point from a flat base. The stock is No. 26 in this week's IBD 50.Under Armour (UA) fell 5% in big volume. The athletic clothing maker has dropped to support at its 50-day line. It's also now below an 80.90 handle buy point. Under Armour sports a 99 Composite Rating.Stocks finished low in the day's range Friday, giving up most of what had been ample gains. The Nasdaq notched a 0.6% pop after being up as much as 1.7%. [Read the full article] The S&P 500 lost 2%, while the Dow Jones industrial average and Nasdaq both shed 1.8%. Volume remains lower across the board.Fitch criticized the euro zone's latest efforts to address its debt crisis, saying a "comprehensive solution" is "not on offer." The ratings agency also said it predicts a "significant economic downturn across the region."Avago Technologies (AVGO) lost 5% in strong volume, as the chip stock fell along with others like Intel (INTC) and Texas Instruments (TXN). Earlier Monday, Intel cut its fourth-quarter revenue guidance and that has weighed on the entire sector. Avago was down as much as 10% out of the gate Monday. It's trading well below its 50-day and 200-day moving averages as it shapes a base that began in early July.Among Dow components, DuPont (DD) shed 3% in above-average turnover. The diversified manufacturer has dropped further below its 50-day moving average. It's working on a base that dates back to early May. [Read the full article] 
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