Dow Jones Industrial Average may fall into coma on a background of European defaults and oil prices

Dow Jones Industrial Average went down

In brief: Bulls settled down in their zeal to achieve the weekly maxima for trading on the U.S. stock market. The problems came from Europe and the oil markets.

Dow Jones keeps the level above 10000 points. Although growth slowed, the bulls have removed the main shoulder support. The market blue chip Dow Jones Industrial Average recession. The index lost 40 points, which are purchased today. At the time Dow Jones stands at around 10,017.52 points, rising up today +77.54 points (0.78%). The main reasons for the fall were new threats of defaults in Europe and the oil market:

U.S. Department of Energy has published data on the change of oil and petroleum products in the last week: Crude oil – fell by 1.83 million barrels, the expected 1 million gasoline – fell by 10 thousand barrels expected 250 thousand Petroleum – an increase of 1.84 million barrels was expected 500 thousand Capacity Utilization was 89.1%, 87.5% expected. Current demand for petroleum products fell by 130 thousand barrels / day and is 3.90 million bbl / day. Current demand for gasoline has increased by 20 thousand barrels / day and is 9.19 million bbl / day. The American Institute of petroleum (API) gave the following data on changes in inventories: Crude oil – fell by 4.54 million barrels. Gasoline – an increase of 1.48 million barrels. Petroleum products – an increase of 3 million barrels. Capacity Utilization – 86.8%. Estimates for DOE and API often diverge, as the Ministry compiles its report based on official data provided by companies in accordance with the law. While the API bases its data on a survey of companies with no documentary evidence of stock.

Igor Tringlers
2010-06-09 17:43, Economics.

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