Wall Street closed out the final week of the third quarter lower as Friday's initial rally on tame inflation data ended largely in losses. The Dow , S & P 500 and the Nasdaq all fell sharply for the historically tough month of September and for the quarter. In fact, the third-quarter declines for the Dow and S & P 500 broke three straight quarters of gains. The Nasdaq's retreat came after advances in previous two quarters.
Club earnings : Constellation Brands reported better-than-expected earnings for the second quarter, but investors took issue with management simply reiterating its outlook, rather than raising it on the back of strong results. Management did say that while beer depletions — an industry term for the number of cases that are sold to retailers by a distributor — were a bit short versus expectations, performance accelerated through the quarter and through June.