Wall Street Reacts Calmly To More Bad News

By: Associated Press
By: Associated Press

Wall Street is taking in a larger-than-expected drop in factory orders with relative calm.

This was the sharpest decline in orders in more than eight years but one that didn't appear to surprise Wall Street, which has been getting used to a steady stream of downbeat economic and corporate news. The Commerce Department says factory orders fell 5.1 percent in October, the largest decrease since an 8.5 percent fall in July 2000.

The market has advanced in seven of the last eight sessions, a sign that some stability is returning to the Street.

The Dow Jones industrials are down 48 at the 8,543 level.

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