Apple (AAPL) dominated headlines Wednesday afternoon after unveiling a revamped Apple TV at its annual product launch. The set-top box has a built-in app store and touch interface and will feature voice commands through personal assistant Siri. The tech giant also revealed a larger iPad and a stylus for the iPad called Pencil. A selloff in crude oil pressured stock markets, putting an end to an earlier rally inspired by a surge in Asian markets. Stock losses accelerated in the final hour of trading with the S&P 500 falling nearly 1.5%. Crude oil closed below $45 a barrel after the Energy Information Administration lowered price forecasts through to 2016.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.