Losses remain heavy in the major indices. The Dow, Nasdaq, and S&P
500 have all fallen another leg lower to new session lows.
Market breadth remains bearish. 98% of the companies in the S&P
500 are trading with losses, while 29 of the 30 Dow components are in
the red.
Coca-Cola (KO 45.06, +1.33) is the only Dow component making gains.
Coke announced this morning upbeat earnings per share results for its
latest quarter. It was the eighth straight quarter in which Coke
logged double-digit earnings per share growth, and at least as many in
which the results surpassed the consensus estimate.
Just hitting the wires, the Fed's Beige Book indicated a weakening of economic activity across all 12 districts.