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FRIDAY, NOVEMBER 27, 2009
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 MARKETS 
5

Manufacturing Stats Send Dow Down 187

Manufacturing, housing demand reports disappoint

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(Newser) – Stocks fell today as a sharp monthly decline in the New York Fed’s manufacturing index hammered the materials, industrial, and energy sectors, the Wall Street Journal reports. Alcoa fell 6.3%, with Caterpillar, John Deere, and GE also down. In housing, the National Association of Home Builders’ index of demand for real estate unexpectedly fell in June. The Dow lost 187.13 points to settle at 8,612.13. the Nasdaq fell 42.42 to 1,816.38, while the S&P 500 closed down 22.49 at 923.72.

Trader Bradley Silverman works on the floor of the New York Stock Exchange in this undated file photo.
Trader Bradley Silverman works on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Richard Drew)
Caterpillar employees wave a banner on the top of a tower at the Grenoble plant, French Alps, Monday, April 20, 2009.
Caterpillar employees wave a banner on the top of a tower at the Grenoble plant, French Alps, Monday, April 20, 2009.   (AP Photo/Laurent Cipriani)
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The housing market continues to bump along trying to find a bottom.
- David Crowe, National Association of Home Builders

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5 comments
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ack
Jun 15, 09 3:59 PM CDT
Fun facts: According to the US Chamber of Commerce, U.S. industrial production ROSE by 57% between 1993 and 2007 -- and more than 3/4 of that is manufacturing. And guess what: The United States is still the world's largest manufacturer. "In 2005, U.S. factories accounted for 21.1% of the world's manufacturing output." Reply
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Snowleopard
Jun 15, 09 6:02 PM CDT
wow, if that's true it's surprising.
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ack
Jun 15, 09 6:34 PM CDT
Would I lie to you? :) And yep, it's true. Reply
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Deebles
Jun 15, 09 7:10 PM CDT
You think the Chamber of Commerce is going to admit that we are all screwed? They spend more money on lobbyists than Madonna does on an adoption. Go back and check how much of that manufacturing was actually happening on US dirt. Besides, it's 2009. Like a director you're only as good as your last film. And we seem to be holding Gates of Heaven or whatever that movie was that destroyed an entire Company. Reply
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kokuaguy
Jun 15, 09 9:36 PM CDT
Heaven's Gate. Now the last time I showed the slightest bit of negligence about fact checking etc. here's the web address a helpful newser colleague suggested: http://www.justfuckingoogleit !!! Reply
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