The DJIA is ready to drop as the Bank of America Corporation (NYSE: BAC) fell lower and lower

Dow Jones Industrial loses hope on the background of Bank of America reducing

In brief: Dow Jones Industrial Average does not find a foothold. U.S. banking sector is declining in price, Bank of America Corporation (NYSE: BAC) is in red.

Bank of America Corporation (NYSE: BAC) is at the level of 14.35 points, losing -0.62% in the middle of stock market trading today. Bulls do not replace the shoulder support for Bank of America Corporation. Market participants without optimistic about the U.S. Commerce Department report that the volume of consumer incomes and spending in the country in June 2010, unchanged compared to May.

Start the U.S. stock market trading: these figures were worse than the forecasts of analysts who had expected growth of income and expenditure by 0,1%. At the same time in May, revenues and expenses have been revised downwards to 0,3% and 0,1% respectively. Against this background, the red sector of traded securities of leading U.S. banks. Quotes of the largest in the U.S. Bank of America Corp. dropped to 0.28%, and banks Morgan Stanley and JPMorgan Chase & Co. – On 0,58% and 0,48% respectively. Equity Wells Fargo & Co. in the early trading hours lost in the price of 1,09%. Procter & Gamble shares fall in price as well. The company reported an decrease in net profit in the IV quarter 2009-2010 financial year to 2.19 billion dollars, while operating profit – up to 2.95 billion dollars that was worse than expected performance and led to a drop in Procter & Gamble quoted at 4.01%.

Igor Tringlers
2010-08-03 17:11, Economics.

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