Crude prices fell even further in midday trading Friday, down more than 3%. The Dow dropped 200 points. However it’s not energy but IBM (IBM) that’s leading the blue chips lower. Lower gasoline prices have consumers feeling more confident. Consumer sentiment jumped in December to its highest level in 8 years. The University of Michigan reading rose to 93.8 in December. Adobe Systems (ADBE) is up 9% after beating quarterly results. The software maker also said it would acquire stock-photo company Fotalia for $800 million. Handbag maker Coach (COH) is rising on reports it may be a takeover target for luxury goods company LVMH.
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