Dow Jones Industrial slipped on mortgage problems

Dow Jones Industrial is reduced by an unexpected negative of the mortgage market

In brief: Bulls were not expecting new problem with news from the mortgage market in the U.S.. Dow Jones Industrial Average went down.

Dow Jones Industrial Average was a little weak for strong growth throughout the trading session today. Loss of shoulder bullish support led to a drop in Dow Jones to 10,021.91 points. The main factor of uncertainty bulls were bad news from Europe and the negative local scale, we are talking about the new mortgage problems in the U.S..

According to recent Mortgage Bankers Association of the USA (MBA) the number of applications for mortgage loans decreased by 12.2% for the week ending June 4, a week earlier, it was observed an increase of 0.9%. Negative statistics pleased France. The second largest French producer of alcoholic beverages Remy Cointreau announced net profit for the year ending in March, amounting to 86.3 million euros ($ 103 million) compared to 86.1 million euros a year earlier Analysts on average expected profit at 87, 8 million euros. The slight increase in financial results due to increased expenditures on advertising and restructuring units for the production of champagne.

Igor Tringlers
2010-06-09 18:04, Economics.

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