Dow Jones Industrial Average: new data led to further losses

Bulls try to bring Dow Jones Industrial in the positive area

In brief: Dow Jones Industrial Average continued negative trend against the problems the U.S. economy. Business activity was low and this fact full advantage of bears.

Dow Jones Industrial Average can not boast of growth. New economic statistics added problems of bulls. Fall Average Dow Jones Industrial reaches the mark of 10,154.84 points. Loss of Dow Jones is equal to one percent. Prior to the opening of trading in the U.S. in world markets in varying degrees has occurred Rally – Asian indices closed in positive territory, European and grew up in commodity markets dominated by upward movement. However, as the release of the American Statistical positive was no longer valid, Europe partly left in a minus. Exterior “clouds” were to thicken, when media published a statement of the North Korean general with the new threats of war against the South Korean.

By 20:18 Moscow time the index broad-market Standard & Poor’s 500 is trading with a decrease to 0.52% on a mark to 1,097.29 points, the index of high-tech Nasdaq Composite traded in the red at 0.65% on a mark to 2,262.89 points. The dollar index is trading in positive territory at 0.05%, gold and silver lost 0.5% and 1% respectively, industrial metals (copper, aluminum, nickel) and energy (oil, gasoline) are traded in the red, despite the fact that earlier Oil was trading in positive territory for more than 1,5%. In the composition of the index of blue chips added just a few – Pharmaceutical companies Merck and Pfizer, and Coca-Cola and Procter & Gamble. And lose more than 1% Alcoa, Bank of America, Cisco Systems, HP, Intel, JPMorgan, AIG, Walt Disney and others. Branches in the context of the market seem worse than the financial and commodity sectors, automotive industry. In a small positive territory hold health and municipal sector. Oil and oil service sector in the index Standard & Poor’s 500 was one of the leaders of the retreat on the background of what the U.S. president extended the moratorium on deep-sea drilling. Stocks Transocean, dealing with quite the deep-sea drilling, fell by 8,2%. Paper Anadarko Petroleum sagged at 5%, Diamond Offshore Drilling – 4,6%, and Schlumberger – by 5,1%. Clothing Retailer J. Crew Group was among the positive exceptions to the general dynamics and moved on 4,7% on news of improving the forecast of annual profit.

Pavel Migin
2010-05-28 17:16, Economics.

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