Stocks putting November lows to the re-test

Date: Tue, 17 Feb 2009 12:01:24 -0500
Stocks putting November lows to the re-test

With the S&P 500 trading below 800 for the first time in nearly three
months, the broad market is testing November lows in what could prove
to be a pivotal. trial for what's viewed as a key support level.

FUTURES MOVERS: OIL DROPS 7% AS U.S. STOCK INDEXES FALL, ECONOMIC WORRIES MOUNT

Oil futures tumbled below $35 a barrel on Tuesday, as falling U.S.
stock indexes and concerns about the global economy weighed on
investor sentiment.

EXPENSES HURT WAL-MART'S PROFIT, BUT RESULTS EXCEED VIEW

Retail giant Wal-Mart Stores Inc. says fourth-quarter profit fell
7.4%, hurt by higher expenses and a stronger dollar even as its
low-price position has helped it win traffic and sales from
budget-conscious shoppers.

SIRIUS GETS LIFELINE FROM LIBERTY MEDIA; SHARES DOUBLE

Shares of Sirius XM Satellite Radio as much as doubled Tuesday morning
on news that John Malone's Liberty Media has agreed to invest a total
of $530 million in the the beleaguered radio company, allowing it to
avoid a Chapter 11 bankruptcy filing.

VENEZUELA OPPOSITION REFLECTS ON LOSS; ECONOMISTS WARN OF TROUBLE

The Venezuelan people's decision to dismantle term limits is a
resounding vote of confidence in President Hugo Chavez and is forcing
the opposition to reflect.on its strategy and seek new ways to reach
the millions who can't imagine their nation without the popular
strongman.