Dow Jones Industrial Average falls off with the DAX

Dow Jones Industrial Average decreased due to lack of support

In brief: Dow Jones Industrial Average continues to fall after a slight recovery in the middle of the auction. Bulls leave the market.

The situation that arose today the U.S. stock market resembles a similar situation in the market of Germany. Average Dow Jones Industrial and all the major U.S. market indexes went into negative from the beginning of trading, but the global collapse did not happen. Now Dow Jones is at the level of 10,119.25 points, losing to the beginning of trading points -53.28 (-0.52%). Germany’s main stock index finished the session with mixed dynamics.

The reason for this uncertainty, sentiment began to macroeconomic data for the U.S., who carried a rather mixed. Retail sales in the U.S. fell in May to 1.2% m / m compared with the expected increase of 0,2%. But the data on consumer confidence in the U.S. market have created some momentum for the growth of the market. According to preliminary data, the index of consumer confidence in the University of Michigan in June amounted to 75.5 points, which is 1 point higher than the forecast value and by 1,9 points compared with the previous month. Significant recharge codes received after the application of the central bank of Germany (Bundesbank), according to which the current year is expected to more stable growth in GDP than previously forecast. For example, in 2010 GDP may grow by 1.9%, and in 2011 – by 1,4% (according to the December forecast, expected GDP increase by 1,6% this year and 1,2% in the future). At the close of bidding a key indicator of the German DAX stock market closed at a slight minus on 0,14% to about 6 047.83 points, while the index TecDAX Performance has become harder to 1,37%, having risen to the level of 764.02 points. Europe’s largest producer of potassium K + S has advanced during the session at 3.4% after it said the planned price increases (second year) on a background of continuing increases in demand in the European region.

Anrey Torbinski
2010-06-11 18:43, Economics.

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