Market Update Weakly re-cap weak ending 26 june, 09

The stock market had some swings this week, but eventually settled essentially unchanged as early losses were offset by gains later in the week. Trading was highlighted by corporate news from some widely-held names, economic data and the FOMC policy announcement.
Stocks got off to a rough start, with the S&P 500 falling 3.1% on Monday. Although there was no particular catalyst for the sell off, the World Bank cutting GDP forecasts on the U.S. and other major economies did not help sentiment.
But the S&P 500 managed to regain ground, with most of the advance coming on Thursday. In the end, the stock market fell 0.3%, with the telecom (+3.7%) and healthcare (+1.4%) sectors outperforming. The energy (-2.3%) and financial (-1.1%) sectors were the main laggards.
Although only a handful of companies reported earnings, there were several big names announcing, which kept corporate news in focus.
Walgreen (WAG) tumbled after missing its consensus estimate on lower margins, sending the stock down 5.2% for week. Oracle (ORCL) topped estimates and issued upside guidance, settling with a weekly gain of 2.8%.
Nike (NKE) shares fell 10.3% for the week. Although the company beat expectations for its latest quarter, investors were disappointed that future orders fell 12% year-over-year.
In other corporate news, Boeing (BA) pushed back the first flight date of its long anticipated and much delayed 787 Dreamliner. Shares fell 13.5%..