Dow Jones Industrial Average: bears and bulls continue bloody carnage

Dow Jones Industrial can not decide where to go

In brief: Dow Jones Industrial Average - bears bulls retreating. Trading volume on the U.S. stock market remains below normal.

Dow Jones Industrial Average suits on the market these swings. Dow Jones Industrial began rising in early trading and fell sharply by mid trading session. On Monday, June 7, the American stock market in the first half of the trading session behaves quite controversial – in early trading was an allusion to growth, then the market has become a moderate retreat, and later bulls seized the initiative again. In early trading the indices grew up on a background of positive makrostatistiki from Germany, where for the second straight month significantly increased production orders – market took this as a sign of not such a disastrous state of affairs in the real economy in Europe, the debt crisis of the oppressed.

However, later wins U.S. indexes were “eaten” correctional movement in the financial sector in connection with the news that Goldman Sachs has received a subpoena from the Commission of Inquiry into the financial crisis. In the United States itself macroeconomic statistics now virtually non-existent – only not particularly affecting the market indicator of the labor market was expectedly ignored. The external background for the U.S. session today, the negative: trading in Asia finished lower under the influence of depressive mood in Europe, Europe, as expected, picked up the downward movement. By the moment of time the index broad-market Standard & Poor’s 500 is trading with an increase of 0.20% on a mark to 1,066.97 points, the light blue-chip Dow Jones Industrial Average adds 0,18% to a level of 9,950.26 points and the index high-tech Nasdaq Composite traded in the red at 0.39% on a mark to 2,210.55 points. The dollar index lost 0,06%, gold and silver added 1.7% and 3,3% respectively, industrial metals exhibit mixed dynamics, Brent crude slightly adds. In the composition of the index of blue chips are added and retreating about equally, and more than 1% of the shares lose AIG, Citigroup, Bank of America, Intel and others. In plus more than 1% are traded AT & T, Chevron, Wal-Mart. Top representatives of the financial sector in the first half of today’s session got under a sale on the background of a subpoena obtained by Goldman Sachs from the Commission of Inquiry into the financial crisis – apparently, the bank has not provided at the request of the commission the required documents. However, by 20:20 Moscow time shares Goldman Sachs already traded in a small minus – on 0,4%, JPMorgan Chase – by 0,1%, while Bank of America – by 2,2%. Amid falling prices for aluminum and copper stocks Alcoa and Freeport-McMoRan Copper & Gold became cheaper by 0.7% and 1,6% respectively. In the health sector today observed the direction of movement: a pharmaceutical company Bristol-Myers Squibb jumped 8.1% after Goldman Sachs analyst upgraded the rating of its shares to “neutral” to “buy,” which, in turn, was associated with an affluent results of clinical trials Bristol-Myers for two experimental preparations. Biotechnology company Celgene has advanced to 4,4% – Jefferies & Co analysts have raised the rating of its shares to “hold” to “buy” and the results of recent clinical trials. Shares Talecris Biotherapeutics Holdings shot at 25,5% on news that a Spanish company Grifols has decided on its takeover for $ 3.4 billion.

Ukrainian Globalist
2010-06-07 16:45, Economics.

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