News Summary: Stocks creep up; H-P takes a dive

News Summary: Stocks edge up after hiring and service industry reports come in above forecasts

Associated Press

H-P'S FORECAST: Hewlett-Packard's stock plunged 13 percent after CEO Meg Whitman said the computer maker will continue to struggle with weak sales for the next two years. Profits will likely fall by more than 10 percent next year, she said.

OIL: Concerns over an economic slowdown in Europe, China and the U.S. helped push the price of oil down $3.75 to $88.14 a barrel. Chevron and other energy stocks slumped.

THE FINAL SCORE: The Standard & Poor's 500 index gained five points to close at 1,451. The Dow Jones industrial average rose 12 points to 13,495.

Rates

View Comments (0)