Published on Wednesday, November 18, 2009
By Press Telegram Staff Writer
TODAY'S BUSINESS NEWS: Weak home building drags on recovery Obama warns of a 'double dip' recession Citi raises salaries for CFO, global heads Earnings preview: Dell slips as PCs rebound BJ's Wholesale 3Q profit falls 37% on legal reserve Oil up near $80 as US crude supplies drop Dollar mostly lower as Fed official says `2012' Companies push for derivatives exemption California targets big-screen TVs US housing weigh on world markets South Bay business news
NEW YORK - Stocks drifted lower Wednesday after an unexpected drop in home construction and disappointing forecasts from technology companies added to worries about the economic recovery.
The modest drop came a day after major stock indicators closed at 13-month highs. The Dow Jones industrial average slipped 11 points after having risen over nine of the past 11 days. Analysts say the market has been due for a break after the fast ascent
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