Dow Jones Industrial Average got a new blow in the back

Dow Jones Industrial Average down to hell

In brief: A new wave of trouble found Dow Jones Industrial Average off-guard. Investors waited and started to sell, bears happily rubbing their paws.

The reasons for the growth of Dow Jones Industrial Average no. Dow Jones Industrial Average falls apart before our eyes. Analysts and experts believe that the Dow Jones index can play past losses, but … Monday, May 17, the American stock market backtracking. In the absence of top news, or important macroeconomic data, the session did not fail to draw attention to irrelevant information, in particular, the index of business activity in the industry FRB of New York – a decline of 40% and far below the average forecast.

Corporate world has also brought negative news, again a minor nature (in particular, from the retailer Lowe’s). Before the discovery appeared isolated reports of transactions in mergers, acquisitions (by no means the biggest on the amount). The external background for the U.S. session, mostly negative – trades in Asia resulted in a significant drop in the indices, the indices in Europe by the end of the session virtually razed winnings with zero. It is a broad market index Standard & Poor’s 500 is trading with a decrease in 1,51% at around 1,118.58 points, the indicator of blue chips Dow Jones Industrial Average lost 1.41% to 10,470.07 in the settlement, while the index of high-tech Nasdaq Composite traded in the red at 1.37% on a mark to 2,314.64 points. The dollar index rose by 0.72%, gold and silver retreat on 0,4% and 0,8% respectively, industrial metals and energy are traded in significant disadvantages. In the composition of the index of blue chips, few are trading at a higher: Procter & Gamble, Travelers and Wal-Mart. More than 2% of the shares lose Alcoa, AIG, Citigroup, GE. The second-largest U.S. retailer of home repair and Lowe’s has lost 3.9% after the publication of profit forecasts for the current quarter – the company expects earnings per share of 59 cents, while Wall Street analysts generally expect 62 cents. Equities main competitor Lowe’s, retailer Home Depot, losing 1.6%. The largest owner of warehouses ProLogis has moved on 1,1% against the fact that Citigroup analyst upgraded the rating of its shares to “sell” to “buy”. Shares of pharmaceutical company OSI Pharmaceuticals retreated 4.1% after news that Japan’s Astellas Pharma will acquire it for $ 4 billion. The regional network of hospitals Universal Health Services jumped 5.6% on news of her plans to buy the operator of psychiatric hospitals Psychiatric Solutions to more than $ 2 billion can be seen that the reaction to news of the acquisition is not entirely typical – in practice after the appearance of such information shares purchased frequently grow, and acquiring – reduced. Of the abnormal movements in the market – shares of the asset manager GLG Partners was shot at 48,9% thanks to the news that rival Man Group will absorb it for $ 1.6 billion.

Ukrainian Globalist
2010-05-17 19:50, Economics.

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