Dow Jones Industrial continues to wallow in a swamp of red zone

Buyers are not rushing to support the Dow Jones Industrial

In brief: Dow Jones Industrial Average: the bulls are nervous, but kept from increasing trading volumes.

Dow Jones Industrial Average began to fall rapidly. Support for the Dow index was left behind. U.S. stock trading on June 16 opened with a decrease in leading indexes against the background of macroeconomic news, which are today the focus of investors. At this time the Dow Jones index dropped by 34.61 points (-0.33%) – up to 10,370.16 points, the index S & P – on 3.04 points (-0.27%) – up to 1,112.33 points, and Index Nasdaq – on 6.26 points (-0.27%) and amounted to 2,299.56 points.

Prior to the beginning of the trading session have been published reports of the Ministry of Labour of the country on industrial prices in the U.S. in May 2010., U.S. Department of Commerce in terms of building new homes in May 2010. and the U.S. Federal Reserve in terms of industrial production – also in May 2010. According to the report of the U.S. Department of Labor, the industrial price index (PPI) in the U.S. in May 2010. decreased relative to the previous month by 0,3%, whereas analysts predicted that the figure on a monthly basis will decrease by 0,5%. Ministry of Trade reported that the volume of new homes in the U.S. in May 2010. compared with the previous month decreased by 10% – up to 593 thousand units. Experts predicted that this figure in the past month would be 650 thousand units. Meanwhile, more favorable data presented Fed: U.S. industrial production in May 2010. compared with the previous month increased by 1,2%, although analysts expect that figure on a monthly basis to grow a mere 0.9%. Against the background of the publication of these reports in the banking sector, which first responded to news of macroeconomic plan, a mixed dynamics of quotations: stock quotes Bank of America and JPMorgan Chase & Co. increased by 0,3% and 0,4% respectively, while Citigroup and operator of paper credit card American Express Company have fallen in price on 0,4% and 0,6% respectively. Definite influence on the movement of the quotations for U.S. trading floors can have the report of U.S. Department of Energy Reserves of crude oil from 5 to 11 June 2010. Which will be published at 18:30 Moscow time. Publication of this report may affect primarily quotations of energy companies, including ExxonMobil (-0,4%), Chevron (-0,4%), ConocoPhillips (-0,5%) and oilfield Schlumberger (-1,2% ). Among the energy companies, the downward momentum of quotations shows and the British company BP (shares are traded on the American Stock Exchange) in connection with the recent statements of U.S. President Barack Obama. The head of the White House promised to pressure the company to assume the entire cost of restoring ecosystems Gulf and disaster relief. Against this background, the paper BP, traded on the NYSE, have fallen in price by 4,2%. Failed auctions are added for international courier company FedEx Corp., Whose shares have fallen in price on 2,4% against a background of disappointing earnings forecast for 2011.

Ukrainian Globalist
2010-06-17 19:50, Economics.

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