S&P 500 Index Falls the Most in Three Months as Concerns Mount Regarding Effectiveness of Stimulus Measures
The Paragon Report Provides Stock Research on Alcoa and Red Hat
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/27/12 -- The S&P 500 Index has risen roughly 15 percent year-to-date on a string of better-than-estimated earnings. The index on Tuesday experienced its biggest slide in three months after comments made by a Fed official criticized the effectiveness of recent stimulus measures. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Alcoa Inc. (NYSE: AA) and Red Hat, Inc. (NYSE: RHT).
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"We are unlikely to see much benefit to growth or to employment from further asset purchases," Plosser said in a speech today at the district bank in Philadelphia. "Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed's credibility," stated Federal Reserve Bank of Philadelphia President Charles Plosser.
The S&P Index had declined for three consecutive days prior as Chancellor Angela Merkel and President Francois Hollande failed to agree on a time table for introduction of stimulus measures to the region's banking sector, and German consumer confidence unexpectedly fell in September.
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Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina. Reuters have recently reported that three more potential buyers have shown interest in the company's smelter in Sardinia. Alcoa has decided to shut down the Italian plant, but will keep it open for a year to see if a buyer comes forward.
Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Shares of the company fell sharply Tuesday after reporting earnings that fell short of analyst expectations, and lowered its full-year revenue outlook.
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Datum: 27.09.2012 - 12:20 Uhr
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