Dow Jones Industrial Average: the end of bidding will be marked by the collapse

Dow Jones Industrial Average - the bulls leave the market

In brief: Dow Jones Industrial Average loses ground. Fast attack by the bulls was not successful, the bears give blow in the back.

The energy and high technology sectors of the U.S. economy become the leaders of reduction. Stock trading in the U.S. on June 11 movement opened up different directions leading indexes against the background of macroeconomic news. After the start of the trading session came the report of the University of Michigan index of consumer confidence in the U.S., which, according to preliminary data, in June 2010 rose to 75.5 points from the May value of 73.6 points.

Meanwhile, analysts expect that the value index was 74.8 points. A few hours ago came out the report of the Ministry of Trade of the country’s stocks of goods in warehouses United States in April 2010. According to the report, the average of March this year increased by 0,4%, while experts predicted growth rate at 0,5% on a monthly basis. Meanwhile, some were worse than projected data on the volume of retail sales in the U.S. in May 2010. Submitted as U.S. Department of Commerce. The index decreased by 1,5% compared to the previous month – up to $ 362.52 billion, while analysts expected the growth rate to 0,2% on a monthly basis. The publication of these reports set the direction of movement of quotations on the American stock trades. One of the earliest events in the national economy reacted to the banking sector, which quotes show mixed dynamics: shares Bank of America, Goldman Sachs and Morgan Stanley have risen in price by 1%, 1,3% and 1,1% respectively, meanwhile the paper Citigroup, JP Morgan Chase and American Express are becoming cheaper by 0,4%, 1,1% and 0,9% respectively. Supporting the stock market today have a corporate news. One of the largest U.S. manufacturers of chips National Semiconductor introduced the financial report for the I quarter of fiscal year 2010, according to which the company’s sales for the period amounted to $ 410 million, while analysts had expected values of the index at 394 million dollars As a result, the company’s shares left in plus on 3,7%. Show an upward momentum and quotes the developer of corporate solutions to information security – ArcSight. The company also introduced surpassed analysts’ forecasts financial report. Against this backdrop, shares soared in price by 22,3%. We note that the company is a member of high-tech index, Nasdaq. Meanwhile, less fortunate bidding for another representative of the Nasdaq – one of the leading computer manufacturers in the world – the company Dell, once the CEO said that Dell is in talks with the Securities and Exchange (SEC) to resolve the situation in connection with an investigation regarding the relationship SEC Dell and Intel Corp. Against this background, the company’s shares have fallen in price by 0,1%.

Anrey Torbinski
2010-06-11 15:53, Economics.

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