The DJIA and Ford Motor Co. (NYSE: F) lose foothold as gold prices rise

The Dow Jones Industrial catches bearish trend

In brief: The Dow Jones Industrial Average started trading in the red zone. Bullish trend may not return to the market in the last day of the trading week due to higher gold prices.

The Dow Jones Industrial Average is unable to reach 10,271.21 points. Dow index lost -144.33 points (-1.39%) following the results of the U.S. stock market trading yesterday. Ford Motor Company (NYSE:F) falls to 11.78 points (-0.93%) at the pe-market trading. Investors flee stock exchanges crawling into the commodity markets.

Therefore, the gold prices went on growing after a series of disappointing economic data was published. In particular, in the U.S. the last week was marked by a sudden increase of unemployment benefit applications, which once again topped half-million mark. In addition, Philadelphia Fed’s economic indicators pointed to a slowdown in the industrial sector – one of the few in the U.S. economy maintaining favorable condition and increasing a number of job offers. For these reasons, investors have renewed demand for sheltered assets.

Anna Krostenski
2010-08-20 13:38, Economics.

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