Markets ran out of gas so far this week. With prices already high this market continues to need fresh bullish news to feast on. There hasn’t been much and even the Apple (AAPL) launch didn’t bring anything fresh or what markets already expected. Even there investors sold the news.
I’m still particularly concerned about the double top staring us in the face which is pointing to a decline.
There was some M&A news as General Mills (GIS) bought organic company Swallows Annie (well, yeah they did swallow it!). On the downside McDonalds (MCD) cited slow sales and Home Depot (HD) is still dealing with its customer security breach.
Stocks were hard hit overall following Europe’s (Spain and Greece) decline and later emerging