Dow Jones Industrial Average: the threat of further collapse increases

Dow Jones Industrial Average minimum updates

In brief: Dow Jones Industrial Average dropped to its lowest level in recent months. Bulls are no longer respond to the movement of indices.

Dow Jones Industrial Average index is the most vulnerable in the global stock market. Dow Jones Industrial dropped to mark 9,910.21 points, losing -228.31 (-2.25%). So, the stock trades in the U.S. opened on 29 June 2010. the fall of leading indexes. On the mood of the players today to tell a message that the index Standard & Poor’s / Case-Shiller, reflecting the cost of housing in 20 U.S. metropolitan areas, in April 2010. increased by 0,8% on a monthly basis. At the same time in the past six months, this figure decreased. The rise in prices, analysts said, reflects the desire of the “buy” property in the country until the termination of tax benefits for housing, expired in late April 2010.

The negative impact on the market also have the latest statistics on the Chinese economy. Thus, according to the specified data research organization Conference Board, the index of leading economic indicators rose in China in April at 0.3%, not 1.7%, as reported earlier this month. This has created uncertainty about the players of the stock market in the pace of recovery of the largest emerging economy in the world. Against this backdrop, minus traded securities of leading U.S. banks. Quotes of the largest in the U.S. Bank of America Corp. In the first hours of trading fell to 1.71%, and Citigroup Wells Corporation and Bank Wells Fargo & Co. – On 3,12% and 1,66% respectively. Also, decreased value of shares of Morgan Stanley and JPMorgan Chase & Co. – On 2,90% and 2,13% respectively. In the red sector and the securities traded energy companies in connection with the fall in prices of “black gold”. Quotes oil giant ExxonMobil Corp. decreased by 1.40%, while its main competitors – Chevron Corp. and ConocoPhillips – on 1,62% and 2,17% respectively. Securities oilfield services company Schlumberger Ltd. In the first hours of trading cheaper at 2.06%. Falling prices for gold and industrial metals have a negative impact on the dynamics of quotations companies mining the USA. Quotes aluminum giant Alcoa Inc. fell to 3.06%, and mededobyvayuschey Freeport-McMoRan Copper & Gold Inc. – On 3,57%. Lost in the price of securities and one of the largest U.S. steel companies USSteel Corp. (-2.60%). Also in minus “securities traded U.S. manufacturer of industrial automation Emerson Electric Co. (-3.19%) After the company raised its offer to buy British Chloride Group Plc., Generating an uninterrupted power supply, to 997 million pounds (1.21 billion euros).

Ukrainian Globalist
2010-06-29 18:56, Economics.

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