Dow Jones Industrial fell under the wheels of recession again, forecasts are negative

The session at the US stocks continues in the red zone

In brief: The beginning of current session at the US stocks was market with the rapid decrease of the Dow Jones Industrial Average along with the other leading indexes.

The beginning of current session at the US stocks was market with the rapid decrease of the Dow Jones Industrial Average along with the other leading indexes. Despite the fact that trading managed to close in the green zone yesterday, the negative macroeconomic statistics along with the mixed quarterly reports affected the market. The DJIA decreased 0.92%, the S&P 500 dropped 0.72% and the Nasdaq fell 1.26% by current time.

Among the companies from the DJIA Top-30 Goldman Sachs, Whirlpool, Bank of New York Mellon, Harley-Davidson, PepsiCo and UnitedHealth Group already published their reports. Goldman Sachs bank demonstrated the worst results so far as its net profit decreased 82%. The net profit of the bank in the second quarter of this year amounted to $613 million of 78 cents per share compared to the $3.44 billion or $4.93 per share of the last year. Analytics expected the profit to be approximately $1.99 per share.

Olga Bespalova
2010-07-20 14:34, Economics.

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