Wall Street Roundup: More bad numbers. Fed to the rescue?

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Gold: Trading now at $1,640 per ounce, up 1.1% from Monday. Dow Jones industrial average: Trading now at 12046.74, down 0.7% from Monday.

More bad numbers. The markets fell after the latest disappointing economic data showed that consumer spending unexpectedly dropped.

Fed to the rescue? As talk of a double-dip recession starts to circulate, all eyes are turning to the Federal Reserve, wondering whether the central bank will try another round of monetary stimulus.

Big Board earnings. The New York Stock Exchange announced earnings that were down, but better than expectations, as it moves toward a sale to Germany’s largest stock exchange.

-- Nathaniel Popper