Dow Jones Slumps as Cisco Acquires a Cloud Company, Home Depot Stock Moves Closer to 52-Week High
The Dow Jones Industrial Average (DJINDICES: ^DJI) was down 0.8% at 12:10 p.m. EDT Friday, underperforming the other major indexes. U.S. consumer spending dropped 13.6% in April, worse than economists were expecting, even as incomes rose thanks to trillions of dollars of stimulus spending.
Shares of Cisco Systems (NASDAQ: CSCO) and Home Depot (NYSE: HD) managed to buck the trend. Cisco stock rose after the company announced its intent to acquire a cloud software company, and Home Depot stock came close to carving out a new 52-week high.
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Source Fool.com
