Stock Market Update - Thu Nov 15 14:00:01 EST 2007

[BRIEFING.COM] The stock market is unable to regain its footing, as it falls to fresh lows.  The weakness in equities, and some negative reports regarding global financial firms, spurs strength in the Treasury market.

The breadth of the stock market is bearish. Decliners outpace advancers by a 3-to-1 margin at the NYSE , while the Nasdaq comes in at 2-to-1.

Merrill Lynch (MER 57.06, -0.91) has announced that it has tapped John Thain, the former head of NYSE EuroNext (NYX 85.15, -1.59), to be its new CEO.  Merrill recently ousted its CEO following its larger-than-expected credit losses and poor risk management.  Media reports are mostly upbeat on Merrill's decision, although its stock is lower today.

NYSE Adv/Dec 877/2332...Nasdaq Adv/Dec 904/2008