Dow Jones Industrial fell victim of bad statistics

Dow Jones Industrial is searching the bottom of today

In brief: European and U.S. stock markets continued their negative trend today. Dow Jones Industrial fell 0.25%.

Bad statistics forced Dow Jones Industrial decline. Bulls do not try to save the Dow Jones out of the captivity of the red zone. Consumers are beginning to play on short-term transactions. Stock trades in the U.S. opened on June 23 collapse of leading indicators. Dow Jones fell by 28.56 points (-0.28%) – up to 10,264.96 points, the index S & P – on 5.92 points (-0.54%) to 1,089.39 points , index Nasdaq – on 15,36 points (-0.68%) to 2,246.44 points.

The negative impact on market participants now have statistical data on the U.S. economy. Thus, the Commerce Department reported that sales of new homes in the country in May 2010. decreased by 32,7% compared to May of this year and amounted to 300 thousand units. when projected at 400 thousand units. In addition, investors not only in the U.S., but around the world are looking forward to an evening meeting of the Federal Reserve System (FRS) the USA, which will be announced a decision on the basic discount rate. As expected, the Fed will keep the key discount rate in the range of 0-0,25% per annum. However, analysts also say that at a meeting of the Federal Reserve will focus on the debt problems of the euro zone and their potential impact on the U.S. economy. Against this background, minus open marketplaces for most companies, the U.S. financial sector. In the early hours of today’s session of the quotations of the largest in the U.S. Bank of America Corp. fell to 1.22%, and of Citigroup and Bank Wells Fargo & Co. – On 0,25% and 0,76% respectively. In addition, cheaper securities Morgan Stanley and JP Morgan Chase & Co. – On 0,32% and 0,31% respectively, as well as the operator of credit cards American Express Co. (-1.22%). Sales today are in the energy sector, the U.S., in particular, due to falling prices for U.S. light crude by more than 2,4%. Securities of oil giants ConocoPhillips and Chevron in the early hours of trading cheaper at 0.90% and 0.97% respectively. In addition, quotes oilfield services company Schlumberger Ltd. dropped to 1.01%.

Cheaper at the opening of trading and shares of mining companies amid falling prices for gold and metals. Quotations one of the largest companies in the U.S. zolodobyvayuschih Newmont Mining Corp. decreased by 0.67% and steel US Steel Corp. – On 0,76%. Lost in the stock price mededobyvayuschey company Freeport-McMoRan Copper & Gold (-2,22%), as well as the aluminum giant Alcoa Inc. (-0,2%). Quotations world’s largest manufacturer of earthmoving equipment company Caterpillar Inc. decreased by 1.03%. A successful bid to fold the world’s largest tobacco company Philip Morris (+3,0%), which raised its estimate for earnings per share, which increased the attractiveness of the company’s securities in the eyes of investors.

Ukrainian Globalist
2010-06-23 16:43, Economics.

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