Market Wrap-Up for Aug.20 (HPQ, V, MA, SJM, TIF, more)

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Fidelity, a popular brokerage house, today published a survey that revealed a record number of workers made hardship withdrawals from their retirement accounts in the second quarter of 2010.

Rising unemployment and corporate cut-backs on overtime and overall hours have reduced the take-home pay of many workers. This trend has forced many workers to get a grip on their spending habits. Although the media loves to brag about the resilience of the American consumer, free spending is nothing to be proud of. Our country's workers face large debt levels, which are a contributing factor in the current economic malaise. Saving, rather than spending, needs to become more of the mantra of the people, and hopefully we will see a healthy balance of responsible consumers and an economy that can shed its reliance on a consumer spending addiction.

Speaking of pulling funds out, sellers did a little of that once again taking some money off the table. Hewlett Packard ( HPQ ) finished lower following the company's earnings release. Elsewhere, Visa ( V ) and Mastercard ( MA ) pushed lower. Bucking the early drop were shares of J.M. Smucker ( SJM ) following the company's solid first quarter results.

Looking ahead to next week, we will see less companies reporting as we head toward the end of the earnings season. The bigger names reporting earnings next week include Burger King ( BKC ) , American Eagle Outfitters ( AEO ) , and Tiffany ( TIF ) . Be sure to catch up with our updated dividend watchlists on Dividend.com Premium, and stay tuned for possible updates to our industry-leading Best Dividend Stocks List .

Have a great weekend!

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: AEO , BKC , HPQ , MA , SJM , TIF , V


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