U.S. stock indexes erase gains after downbeat data

Date: Thu, 16 Oct 2008 12:02:23 -0400
U.S. stock indexes erase gains after downbeat data

U.S. stocks on Thursday pulled firmly lower, extending the prior day's
rout, after a measure of factory activity in the Philadelphia region
swung sharply lower, offsetting earlier cheer on data showing tame
inflation in September. .

Economic Report: Consumer prices unchanged; energy prices fall

U.S. consumer prices are unchanged in September, while the core rate
rises just 0.1%, according to the Labor Department.

Futures Movers: Oil futures drop below $70 on economic worry, rising
U.S. supply

Oil futures drop below $70 per barrel for the first time in 14 months as
fears that a global economic recession will slash demand for oil
combined with three week's worth of rising U.S. crude and gasoline
supplies to set prices up for a third-straight session of declines.

EBay shares fall as economy, restructuring takes toll on forecast

Shares of eBay Inc. lose more ground after the company swings to a
third-quarter profit, but issues a disappointing forecast for the
current period.

Citigroup posts nearly $3 billion loss amid more write-downs

Citigroup Inc., the troubled banking giant, reported its fourth straight
quarterly loss on Thursday amid continuing write-downs for soured
investments.