Daily Business News - Jan-22-09

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On a daily basis, we provide a video or text summary of the day's business news and economic activity. You should see a video player before you, but if you do not, simply click on the ticket image below this text and you will be directed to our blog.

Today's market activity was greatly impacted by difficult corporate news from Microsoft (Nasdaq: MSFT), Intel (Nasdaq: INTC), Southwest Airlines (NYSE: LUV), Northrop Grumman (NYSE: NOC), eBay (Nasdaq: EBAY), Huntsman (NYSE: HUN) and several others. Most notably, Microsoft declared it would layoff 5K employees and refrain from providing EPS guidance. Needless to say, the outlook is suspect, and the present fell short of expectations as well. The day's economic news was sour also, as weekly jobless claims jumped and housing starts plummeted. The Dow fell 1.3%, while the Nasdaq dropped 2.8%.


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