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Fed Stimulus If Economy Worsens, Markets Close Lower
Posted on July 11, 2012 at 18:17 PM EDT
Minutes from the Federal Reserve's meeting indicated that additional stimulus measures may be implemented if the economy worsened. The markets closed lower with the Dow dropping 48 points to 12,604 while Nasdaq fell 14 points to 2887.
On the upside
Ocean Power Technologies (Nasdaq: OPTT) will jointly develop with Lockheed Martin (NYSE: LMT) a 19 megawatt wave energy project in Victoria, Australia.
Shares of HomeTrust Bancshares (Nasdaq: HTBI) climbed in its market debut.
On the downside
Shares of the nation's largest dairy processor Dean Foods (NYSE: DF) fell as the continued drought in the Midwest lifted animal feed prices.
Quantum (NYSE: QTM) stock continued falling after warning of that earnings will miss estimates on Monday.
Shares of Huntsman (NYSE: HUN) extended its losses after Jefferies downgraded the stock last week.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 792.
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