U.S. stocks slide as Procter & Gamble cuts profit outlook

11:51 am ET Oct 30, 2007

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NASDAQ

2,810

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10Yr

4.39%

+0.004

U.S. stocks slide as Procter & Gamble cuts profit outlook

NEW YORK
U.S. stocks fell Tuesday amid speculation the Federal Reserve might not
cut interest rates after all and Procter & Gamble's forecast that the
rising cost of goods would dent the consumer-products giant's profit in
the current quarter.

Merrill CEO out as loss crushes veteran O'Neal

NEW YORK
Merrill Lynch & Co Inc said Tuesday that embattled CEO and 21-year
company veteran Stan O'Neal is leaving the company less than a week
after taking personal responsibility for the largest quarterly loss in
the 93-year old Wall Street firm's history.

Economic Report: Home prices falling at record pace in August:
Case-Shiller

WASHINGTON
The 13-month-long decline in home prices in 20 major U.S. cities
accelerated in August, with prices dropping a record 0.7% in the month,
according to the Case-Shiller price index released Tuesday by Standard &
Poor's Corp.

Economic Report: Job worries drag U.S. consumers confidence lower

WASHINGTON
Consumers are less upbeat about the U.S. job market, with an index
tracking the level of their confidence sliding to its lowest level since
October 2005, shortly after Hurricane Katrina hammered the Gulf Coast,
economic data showed Tuesday.

Procter & Gamble profit jumps 14%; sees margin pressure

SAN FRANCISCO
Consumer-products giant Procter & Gamble Co. said Tuesday quarterly
income grew 14% on the year, helped by sales of laundry products,
fragrances, razor blades and diapers.