Dow Jones Industrial Average loses last chance for growth

Dow Jones Industrial again reduced to levels trading below the average.

In brief: Dow Jones was unable to arrange a rally in U.S. stock market today. Bulls tried to remedy the situation, but could not.

Dow Jones Industrial Average could not equalize the situation in the market because of poor economic statistics. 10 minutes ago Dow Jones fell below 10.120 points. After a sharp fall in the index rose to a mark of 10.140 points. On Friday, June 11, the stock market is the United States by mid trading session demonstrates the volatile dynamics on the background of multidirectional release of macroeconomic statistics.

On the one hand, retail sales in May decreased by 1.2%, while the expected growth rate at 0,2%. On the other hand, the consumer confidence index of the University of Michigan, according to preliminary data, increased in June from 73.6 points the previous month to 75.5 points compared with the expected increase in rate up to 74.5 points. In addition, inventories in April rose less than expected, the magnitude, namely 0.4% against the expected growth on 0,5%. During today’s speech the president of the Federal Reserve Bank of Philadelphia Charles Plosser said that the economic recovery continues and soon the U.S. Federal Reserve will consider the possibility of folding up the monetary incentive. According to him, the U.S. GDP could grow by 3,5% in 2010 and 2011. However, such news did not attract the attention of investors, which by mid-session, all have been unable to decide whether to choose a “strategy” sales or prefer to purchase. At the time index of the broad market Standard & Poor’s 500 is trading with a decrease to 0.42% on a mark to 1,082.31 points, the light blue-chip Dow Jones Industrial Average decreased by 0.42% to a level of 10,130.25 points and the index of high-tech industries Nasdaq Composite traded in positive territory at 0.17% at around 2222.5 points. Given the falling prices of “black gold” shares of Chevron and Exxon Mobil dropped to 1,32% and 0,77% respectively. In the high-tech sector has been an upward trend. Thus, the paper Microsoft and Hewlett-Packard left in plus on 1,84% and 0,29% respectively, and quotes from Intel and Yahoo have increased by 0,12% and 0,56% respectively.Shares of the banking sector in the middle of trades are in “red” zone – Bank of America shortened from its asset 0,25%, paper Citigroup cheaper at 0.89%, and the market value of shares of JPMorgan Chase and Wells Fargo declined to 1.68% and 2,73% respectively. Against the backdrop of unfavorable statistics on retail sales quotes retailers like Macy’s and Wal-Mart Stores retreated to 0.38% and 0.59% respectively. At the same time futures for Brent crude have fallen in price on 1,97% to $ 74.56 a barrel. Gold prices rose 0.45% to $ 227.7 an ounce. Currency pair EUR / USD traded with a decrease to 0.36% to 1,206, and USD / JPY – in positive territory at 0.25% to 91.61.

Ukrainian Globalist
2010-06-11 16:46, Economics.

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