- The S&P 500 snapped its eight-day winning streak on Tuesday after disappointing sales from Coca-Cola, while investors turned cautious on the day before the Federal Reserve chairman’s congressional testimony.
- Eight of the 10 S&P 500 industry sector indexes declined, with materials shares among the day’s worst performers.
- Coca-Cola (KO, Fortune 500) shares slipped after the company reported a drop in profit from a year earlier due to weak European sales.
- Investors are waiting for Bernanke’s meeting with Congress to find out if the Federal Reserve will slow their stimulus pumping into the economy anytime soon.
- If Bernanke says YES SOON, then stocks will decline. If he says no not anytime soon then stocks will RISE.
Categories: Equity Capital Markets