Dow Jones Industrial Average fell, but promised to return

Dow Jones Industrial Average is angry at the cunning bears

In brief: Dow Jones Industrial Average ended its steady growth, which lasted several days, and slightly cheaper.

Predictions about the growth of Dow Jones Industrial Average could not be confirmed. Dow Jones Industrial Average could not resist a confident pressure bears. Bidding on the U.S. stock market on Thursday, 13 May, inexpressive dynamics of quotations. The attitude of players several times changed from pessimistic to optimistic and vice versa, which was due to uncertainty about the prospects of the market. Published macroeconomic statistics, too, have not clarified the situation.

The number of requests for unemployment benefit last week fell by 4 thousand, as expected, but this reduction was completely offset by the revision number of applications for the week before in an upward to 4 thousand a result value of the index last week was higher than analysts’ forecasts. In general, reducing the number of hits U.S. Department of Labor (US Department of Labor) has reported a fourth consecutive week that will permit to the reversal in employment in the direction of improvement. Experts, however, emphasize that even if this is true, then we are at a very early stage of improvement. As a result of trading on May 13 the Dow Jones index fell by 113.96 points (-1.05%) – up to 10,782.95 points, NASDAQ down on 30.66 points (-1.26%) – up to 2,394.36 points, S & P lost 14.24 points (-1.22%) and amounted to 1,157.43 points. The pressure on the stock indexes have a quotation of U.S. banks, over which continue to thicken the clouds because of the increasing pressure on the world’s largest banking corporations by the U.S. authorities. According to the business media, “under the sight of public prosecutors were nine banks, including five American and four European credit institutions.

In five American – JPMorgan Chase & Co. (On the day he dropped by 2,11%), Citigroup Inc. (-2,15%), Goldman Sachs Group Inc. (-1,73%), Morgan Stanley and Merrill Lynch, now part of Bank of America Corp. (-1.17%). Banks suspected that the rating agencies have provided false information, change the rating of mortgage derivatives. Representatives of credit institutions, of course, deny everything. Although Wells Fargo & Co. (-1,72%), US Bancorp (-1,86%), and The Bank of New York Mellon Corp. (-3.04%) And still remain somewhat aloof from the unfolding events, demand they do not enjoy. Morgan Stanley looked much more positive the rest of the industry, as analysts FBR Capital raised its forecast for the paper “at the market” to “above market”. Against this background, quotes the bank’s decline by only 0.65%. In the deep negative “on Thursday shares traded securities of the world’s largest manufacturer of networking equipment – the company Cisco Systems Inc. Its financial results, published on 13 May were lower than expert forecasts that caused the fall of quotations Cisco to 4.53%. Following them into the zone to reduce spent the majority of other representatives of the telecommunications industry: Motorola Inc. lost 2.01% of the capitalization, Comcast Corp. – 2,31%, Broadcom Corp. – 3,02%. By the end of the trading session on Thursday to climb a little higher than the closing levels of protection could only quote American Tower Corp. (0.07%).

Despite these momentous evening of May 13 rollback in oil prices down (to 81.5 dollars per barrel. Sort of Brent), oil and gas companies looked very good. Marathon Oil Corp., Outlook on the shares which, with “below market” to “at market” experts raised Caris & Company, prices dropped by 0,09%. Rostom finished the day Anadarko Petroleum Corp. (2.15%), others have suffered losses: Exxon Mobil Corp. – 0,26%, EOG Resources Inc. – 0,28%, XTO Energy Inc. – 0,46%, Occidental Petroleum Corp. – 1,57%, ConocoPhillips – 1,28%, while Chevron Corp. – 1,42%. FBR Capital analysts increased their forecast for the securities gas and oil service company Halliburton Company, its quotations have decreased by 0,28%. Could grow its rival Schlumberger Limited – on 0,44%. Among the leaders of the session it is worth noting the U.S. provider of enterprise and mobile applications, Sybase Inc. A day earlier, a German developer of software company SAP AG said the purchase of Sybase for 5.8 billion U.S. Under the deal, shareholders will get Sybase to $ 65 per share, which is 15.8% above its price at the close of trading on Wednesday, 12 May 2010. As a result, early in the session Thursday quotations Sybase jumped by 14.39% and eliminate the potential for growth. Investors seem to be no concerns about where the U.S. stock market will move in the near future. In this regard, the auction on May 13 there was unhurried fixing profit after a significant increase in the eve and on Monday. While talking about financial problems in Europe temporarily eased, with the Dow Jones an opportunity to return to the maximum levels of 2010. However, she did not enjoy, and for the second time in a row takes a break after a day of growth. Such behavior of bidders indicate their readiness to begin active sales in the event of a return to the market negativity – from Europe, Asia or the U.S. itself.

Ukrainian Globalist
2010-05-13 21:56, Economics.

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One comment к “Dow Jones Industrial Average fell, but promised to return”

  1. [email protected] Says:

    there’s some good sentences in here too.

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