Stocks appeared headed for a moderate decline Wednesday as investors awaited another round of first-quarter earnings reports and hoped the numbers would help determine where the economy is headed.
Boeing Co. said its first-quarter earnings rose 38 percent and that its revenue advanced 4.1 percent. The company affirmed its 2008 profit forecast.
Some results arriving Wednesday painted a lackluster picture of certain sectors. Bond insurer Ambac Financial Group reported it swung to a loss of $1.66 billion from a profit of $213.3 million a year earlier. The loss came in part because of charges for bonds backed by soured mortgages. The stock is down about 9 percent in premarket, electronic trading.
Health insurer WellPoint Inc. posted a 25 percent decline in its first-quarter profit and lowered its full-year forecast because of higher medical costs.
This article addresses the continued decline in the stock market which can be attributed and can contribute to the declines in the United States's economy. This article also addresses Wall Street's concern with how long this recession will last. This article simply delineates numerous stocks that declined which are an example of the declining US economy.
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