Dow Jones Industrial Average has failed the most important rally

Dow Jones Industrial Average: old problems have led to a new drop

In brief: Dow Jones Industrial Average did not cope with powerful attack bears. Bulls no longer support the Dow Jones by increasing trading volumes.

Dow Jones continues to fall. Fall happens to all the U.S. stock market indexes. Dow Jones Industrial Average lost more than 0,5% on time. On Thursday, 3 June, the American stock market in the first half of the trading session demonstrates weak retreat, with a high-tech sector is somewhat better than the market. Although the session began in a positive way, that went on a course of macroeconomic data is not particularly impressed and “eaten” most of the gains on the major stock indexes.

It should be noted, that the index of economic conditions (including business) in non-production in May remained unchanged from the previous month and up 55.4 points at an average forecast 55.5 points, while industrial orders in April rose by 1,2%, ie significantly weaker than forecasts. Weekly data on the unemployed in general agreement with the predictions, as oil fell more expectations – the only positive point in today’s statistics, which, in fact, contributed to the rise in energy prices. The external background for the U.S. session, quite good – trades in Asia ended in positive territory, with the exception of China, the European markets have shown steady growth. At the moment of time the index broad-market Standard & Poor’s 500 is trading with a decrease to 0.55% on a mark to 1,092.32 points, the light blue-chip Dow Jones Industrial Average lost 0.65% to a level of 10,182.58 points and the index high-tech Nasdaq Composite traded in the red at 0.16% on a mark to 2,277.48 points. The dollar index adds 0.29%, gold and silver lost 1.8% and 2.9% respectively, industrial metals traded in a serious drawback, especially copper and nickel, and energy (oil, gasoline, natural gas) is added over 1%. In the index of blue chips are added and retreating about equally. More than 1% of the shares lose Alcoa, DuPont, Home Depot, and Travelers. In plus more than 1% of traded securities Citigroup. Youth Clothing Retailer Abercrombie & Fitch has advanced by 6% against the comments of industry analysts note a slowing rate of decline in prices for clothing brand. Other retailers, whose sales reports disappointing analysts who had gone into negative: Nordstrom lost 4,7%, Family Dollar Stores retreating to 4,6%. Stocks Transocean, the owner of an oil platform in the troubled field BP, rose by 2%. The developer of software for computer security SonicWall soared by 26% after the news that a group of investors will acquire it for $ 717 million.

Ukrainian Globalist
2010-06-03 21:52, Economics.

News on: , , , , , , , , , , , , , , , , , , , , , , , ,

Post a comment