According to Michael Ferol, chief economist at JPMorgan Chase in New York, the launch of the new Fed program to quantitative easing in the U.S. in the near future is unlikely. “From the minutes and the FOMC that, despite the likelihood of maintaining a high level of unemployment in the next two years, a further incentive, the economy may not be needed.
Exchange rate USD weakens against the bad statistics. So, the data of the U.S. employment could significantly move the markets, which have demonstrated large-scale movements as early as Thursday, but added food for thought. Total U.S. economy in June, has lost 125 thousand jobs vs. -130 thousand, the unemployment rate fell from 9.7% to 9.5% against the forecast growth to 9.8% (these data, as well as all that will be lower, are seasonally adjusted).
Reducing the number of new houses sold in Australia in May to 6.4% on a monthly basis was the largest since July 2008, in April, an increase was recorded at 6.2%.
As presented by General Motors Corporation this total car sales of this brand in the U.S. in June fell to 194 thousand from 223.8 thousand in May, year over year sales of cars General Motors in June rose by 10.7% against 16.6% in May.
DJIA continues to weaken against the negative statistics. Bulls cleared shoulder support for Dow index at the beginning of the trading session. Trading in U.S. stock indices ended lower. The pressure on the market has had a series of negative macroeconomic data published in recent days. As a result of trading the index of “blue chips” Dow Jones Industrial Average fell to 41.5681 points or 0.43%, to 9732 points. The index of wide market S & P 500 closed down fall to 3.34 points or 0.32%, at around 1027 points. “High-tech” Nasdaq Composite closed lower at 7.88 points or 0.37% at around 2101 points.
International rating agency Fitch Ratings revised the outlook for global growth in 2010 upwards to 3.1% from 2,8%, which were cited in the prediction of three-month prescription. This information is covered in the next quarterly Global Economic Outlook forecast.
Nasdaq Composite has not withstand pressure from the poor statistics and the falls after the DJIA. Standard & Poor’s 500 is located at around 1,022.32 points, losing -8.39 (-0.81%). In the middle of trades the broad market Standard & Poor’s 500 was weak with a decrease at 1.36% on a mark to 1,016.71 points, the light blue-chip Dow Jones Industrial Average fell by 1,265% to a level of 9,650.36 points and the index of high-tech industries Nasdaq Composite was trading in a minus on 1,2% on a mark to 1,718.14 points.
Dow Jones Industrial Average decreased from the first minutes of trading on the stock market today. Dow Jones Industrial loses some points -11.94 (-0.12%). Dow index stands at around 9,762.08 points. Bulls do not replace the shoulder support for DJIA. Meanwhile, the U.S. Treasury sold another 1.1 billion shares of Citigroup.
Stock trades in Europe began with lowering the leading index by an average of 1,5%. The British FTSE 100 index fell by 79.74 points (-1.62%) – up to 4,837.13 points, the French CAC 40 – at 69.38 points (-2.02%) to 3373 , 51 points; German DAX – on 83,79 points (-1.4%) to 5,881.73 points, while the Swiss SMI dropped by 83.89 points (-1.37%) – up to 6044.1 points.
Dow Jones Industrial pulled down an entire Asian stock market. As a result of trading the index of “blue chips” Dow Jones Industrial Average has fallen off at 96.81 points or 0.98%, to 9774 points. The index of wide market S & P 500 closed at the fall of 10,54 points or 1,01%, at around 1031 points. “High-tech” Nasdaq Composite closed lower at 25.94 points or 1.22% at around 2109 points.
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