U.S. stocks sharply lower amid generally bleak data

Date: Thu, 06 Nov 2008 12:01:10 -0500
U.S. stocks sharply lower amid generally bleak data

U.S. stocks fell for a second day, pushing the Dow Jones Industrial
Average under 9,000 for the first time in a week, as mostly bleak
retail sales and a lowered outlook from Cisco Systems Inc. underscored
the troubled economy.

ECONOMIC REPORT: CONTINUING JOBLESS CLAIMS HIT 25-YEAR HIGH

The number of U.S. residents collecting state unemployment benefits
reached the highest level in 25 years, rising by 122,000 to a
seasonally adjusted 3.84 million in the week ending Oct. 25, the Labor
Department reports.

SOURED CONSUMER CONFIDENCE HAUNTS RETAILERS

Record-low consumer confidence haunted retailers' sales in October, as
most turn in another ugly month, signaling a dreary outlook ahead for
the crucial holiday season.

CISCO SALES JUMP 8%, BUT PROFIT FLAT

Shares of Cisco fell in premarket trades Thursday, a day after the
company reported flat net income and warned of slowing sales.

BOE DELIVERS UNPRECEDENTED RATE CUT; ECB DISAPPOINTS

Europe's major central banks slashed key interest rates Thursday in
the face of a potentially deep and lengthy economic downturn, with the
Bank of England leading the charge by dropping its key rate to a level
unseen since the mid-1950s.