Stocks Downshift After Steep Run Higher; FAZ up 14%

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May 13, 2009 5:24pm NYSE:FAZ

ouchStocks tumbled, led lower by the Nasdaq, which fell -3.0%, or -52 points, to 1,664. The Dow dipped -184 points to 8,285, while the S&P dropped -24 points to 884. Oil slipped -83 cents to $57.88 a barrel, while gold climbed $2.00 to $925.90 an ounce.

Topping the economic headlines, the Commerce Department announced that total retail sales dipped -0.4% in April, and -0.5% excluding autos. Economists were looking for April retail sales to be flat and up 2.0% excluding autos.

The Leveraged ETFs Index was the top performing tickerspy Index on the day, led by Direxion Daily Financial Bear 3x Shares (NYSE: FAZ – News) with a 14% gain.

Full Story: http://finance.yahoo.com/news/Stocks-Downshift-After-Steep-indie-15235839.html?.v=1



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