Financial Review

…Earnings season onslaught just can’t beat year ago numbers. Chip stocks hit hard. Averages take big hit but rebound slightly. Saudis killed a journalist in Istanbul; now we see the cover-up. DOW – 125 = 25,191 SPX – 15 = 2740 NAS – 31 = 7437 RUT – 12 = 1536 10 Y – .03 = 3.17% OIL – 3.27 = 66.09 GOLD + 8.20 = 1230.90   The good news is that it wasn’t worse. The Dow Industrial Average was down about 550 points in early trade before a recovery, of sorts. The S&P 500 Index dropped below the October lows – also taking out the 200-day moving average – and matching the lows from July. We have not seen any really panicked selling. Today stocks moved lower, offering plenty of opportunity for a freak out but now, stocks did not freak of panic. Each of the big three U.S. benchmark indexes briefly undercut the October low early Tuesday — tagging multi-month lows — as the markets continue to seek a durable floor. And while stocks did recover from session lows, it was only after the damage was done; after the markets esta