So much for a “glimmer of hope”. Wall Street is looking more skeptically at claims from Washington that the economy is getting better. The stock market is down about 45 points in late morning trading, after more layoffs were announced by U.S. companies (Yahoo (YHOO) being one of them – see below). Also hurting stocks was a lousy US. Labor Department report showing consumer prices unexpectedly declined 0.1 percent last month. The Dow Jones Industrial Average was down 34.41 points, to 7,885.77 minutes after the market opened. Investors were also mulling over earnings news from Intel (INTC) , which came …

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It’s another tough morning for tech stocks, with Apple, HP, Oracle, Motorola, Google, and Dell all seeing their stocks fall 2% or more. The falloff is primarily from the news that consumer/retail spending fell 2.7% in December – twice the amount that economists had expected. At least the companies I mentioned above don’t have the problems that Nortel Networks has. Nortel, the largest manufacturer of telephone equipment in North America, filed for bankruptcy this morning, sending its own shares plummeting 75% to 07.5 cents in early morning trading. Word on the street was that Nortel might have trouble making an …

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The End.