Daily News Links: October 15, 2008

U.S. Stocks Retreat as Earnings Concern Overshadows Bank Plan
U.S. stocks fell a day after the market’s biggest rally since the 1930s as a worsening outlook for earnings at PepsiCo Inc., Microsoft Corp. and Intel Corp. overshadowed the government’s plan to buy stakes in banks.
NYC could shed 165,000 jobs, double July’s estimate
New York City’s economy could lose 165,000 jobs in the next 24 months, almost double the estimate made in July…

Earnings picture for ’09 fraught with uncertainty

With two of the most jarring events to hit markets in a generation now in the rear view mirror, investors have one more daunting task in front of them — put a value on stocks in a hazy but clearly crumbling profit environment.
Former Fed chief says U.S. now in recession
Former Federal Reserve Chairman Paul Volcker said on Tuesday the U.S. housing sector faced more losses and the economy was in recession even as authorities moved to stabilize the financial system.

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