The DJIA lost foothold as American Express Co and Bank of America Corp weaken

American Express Co., Bank of America Corp. and Travelers Cos Inc. make the DJIA to lose precious points

In brief: American Express Co., Bank of America Corp. and Travelers Cos Inc. cause the rapid decline of confidence in the Dow Jones Industrial Average.

Dow Jones Industrial Average continues to remain in the red zone, despite the growth of Verizon Communications Inc shares. The main trouble for the DJIA began after General Electric Co to reduce by 1% and the collapse of American Express Co.. The Bank of America Corp. loses -1,318% after reporting bad banking sector.

Travelers Cos Inc. shares lost in value of about 0,5%, but can grow according to the opinions of experts by the second half of the session. In general, the market seems overheated enough and bulls are in no hurry to increase trading volumes. At the same time, Dow Jones Industrial Average is at the mark of 10,302.77 points, losing -19.53 (-0.19%). Bank of America Corp. gained some points just 10 minutes ago and has turned green as Travelers Cos Inc. is red still. In addition, we should recall that, the Verizon Communications profit exceeded analysts’ expectations by increasing the number of buyers of smartphones based on Android. According to the report of the company, profit excluding some costs was 58 cents a share, compared with 63 cents a year earlier.

Igor Tringlers
2010-07-23 15:45, Economics.

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