If the Nasdaq breaks through 2500, technical analysts say the next support level is at 2330. IBM has signed marketing deals with another four software makers to promote IBM products. Big Blue has signed 40 such agreements in the past year. Steve Ballmer, Microsoft's top dog, sent a 4,000 word memo to employees outlining ways to cut expenses. The Fed meets again on January 31st, about 6 weeks from now.
Some economists feel that is too long to wait before lowering interest rates.
The last time the Fed lowered interest rates was during the Asian financial crisis in October of 1998. The Federal Reserve hasn't changed the Fed fund rate in the last 5 meetings. U.S. farmers sold fewer commodities such as wheat and corn abroad. Foreign sales of chemicals, newsprint, semiconductors, telecommunications equipment and consumer goods like drugs, tobacco and televisions also dropped. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report .