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Schwab Market Update
Posted: 9/10/10 1:15 PM ET The US equity markets are mixed heading into afternoon trading of a light session to end the abbreviated week as yesterday’s better-than-expected jobless claims and trade reports are helping keep double-dip recession concerns from flaring up. However, euro-area banking sector uneasiness is limiting gains in the broad market, while disappointing reactions to data from some chipmakers are weighing on the tech-heavy Nasdaq Composite. Treasuries are mostly lower following a much larger-than-forecasted increase in wholesale inventories. Meanwhile, equity news is focused on the tech sector as National Semiconductor beat the Street’s earnings expectations, but its revenues came in short of forecasts and it offered a cautious outlook, while Texas Instruments updated its 3Q guidance. Overseas, European markets finished mixed as some favorable equity moves were somewhat offset by the aforementioned banking concerns. |