DJIA keeps falling along with the other leading indexes

Situation at the U.S. stock markets

In brief: DJIA and the other leading indexes opened the stock trades today with the prominent decrease.

U.S. stock trades opened today with the decrease in leading indexes on the background of macroeconomic news. Before the trading session, U.S. Department of Labor has published the data about the number of initial claims for unemployment benefit payment for the week that ended 26 June. According to the report, the index rose by 13 thousand compared with that of the previous week and amounted to 472 thousand.

Meanwhile, analysts expected that this figure will be 460 thousand. The latest news from China aren’t very optimistic too. Today’s statistics may indicate a slowdown of the world’s largest developing economy: an index of purchasing managers (PMI) fell more than analysts expected this June – up to 52,1 points from 53.9 points in the previous month. Meanwhile there is now a mixed dynamic of quotations in the banking sector: Bank of America and JPMorgan Chase stocks have fallen in price by 1% and 0.1% , while Wells Fargo and Goldman Sachs stocks went up by 0,9% and 0,5% respectively. Citigroup securities rose up in price by 1,5% at the opening of the trading session. Today, the U.S. Treasury announced about the sale of 1.1 billion ordinary shares of the Citigroup bank in the second tranche sale of the company securities. Based on the current market value of securities (3.76 dollars per share at the close of trading of the past), the U.S. Treasury could bail out more than $ 4 billion second phase of sales of shares of Citigroup has been launched through an intermediary – the company Morgan Stanley, whose shares have fallen in price at the opening of trading on 0,2%.

Olga Bespalova
2010-07-01 18:38, Economics.

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2 comments к “DJIA keeps falling along with the other leading indexes”

  1. habu Says:

    the Dow Jones Industrial average is not a leading indicator.

  2. habu Says:

    I forgot learn english

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