The market is under more selling pressure this morning. The broker index is down the most, after Morgan Stanley (MS) reported earnings that beat estimates, but revenues fell short. FedEx (FDX) also reported disappointing results due to sluggish demand and soaring energy prices. The firm gave 2009 guidance that was well below consensus, hurting the stock.Nearly every major sector is lower so far this morning. The Dept. of Energy said that crude inventories fell slightly last week, which would normally push oil prices higher. But oil is trading [...]
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[Source: The Money Blogs]
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