Market Wrap-Up for Sept.22 (GIS, MS, FCX, BHP, DRI, PNC, GS, more)

By Staff,

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The markets saw a bit of a pullback today on the overhang of yesterday's Federal Reserve commentary that featured the dreaded "D-Word" - Deflation. We also had news out this morning that White House economic adviser Lawrence Summers will leave the Obama administration at the end of the year. The timing of the move is a bit troubling as the economic recovery is still a bit bumpy (despite the report out yesterday the Recession had ended in 2009). It's interesting that Mr. Summers' resignation announcement came on the day after the "recession ended" announcement. These factors are likely pulling the markets down so far today.

Getting into some specific dividend names, General Mills ( GIS ) traded higher following the company's Q1 results, while shares of Darden Restaurants ( DRI ) pushed lower on their earnings' report. Elsewhere, the commodity sector outperformed other sectors today, with Freeport McMoran ( FCX ) and BHP Billiton ( BHP ) bucking the early selling. The financial sector has fallen back into a shell once again. Leading the way lower were shares of Goldman Sachs ( GS ) - following an analyst cutting estimates for Goldman as well as Morgan Stanley ( MS ) . PNC Financial ( PNC ) and Metlife ( MET ) were also laggards.

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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: BHP , DRI , FCX , GIS , GS , MET , MS , PNC

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