SmarTrend Market Close Wrap-Up — November 9, 2011
Themajor US equity indices closed lower after a clearing house raised the deposits needed to trade Italian government bonds and securities. Borrowing rates in Italy surged on uncertainty over who would lead the country though its current issues once Prime Minister Silvio Berlusconi resigns. In corporate news, General Motors (NYSE:GM) reported Q3 earnings before the market opened today, posting EPS of $1.03, topping consensus estimates for $0.96. Revenue for the quarter rose to $36.7 billion, which was also ahead of estimates for $36.6 billion.