Stocks may be in for a wild ride

News Wire Services

Thursday, April 24th 2008, 4:00 AM

Stocks could be volatile today after tech giants Apple and Amazon.com announced last night that profit growth later in the year could slow.

In a choppy session yesterday, the Dow rose 42.99 to 12,763.22, after spiking 117 points, then trading down 17 before recovering some ground late in the day. The S&P 500 rose 3.99 to 1,379.93, and the Nasdaq advanced 28.27 to 2,405.21.

Investors will also weigh in today on Starbuck's report that it was cutting its outlook for the year, citing decreased traffic at its U.S. stores. The coffee giant said the economic environment was the "weakest in our company's history."

And UPS, which delivers half of U.S. packages, said shipments fell on a "dramatic" slowing of an economy. It cut '08 profit estimates.

 

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