Collapse – DJIA keeps falling down despite the promising start

The Dow Jones index keeps decreasing

In brief: Stock trades in the U.S. today opened with mostly high leading indexes, but now the DJIA keeps falling down.

Stock trades in the U.S. on July 2 opened with mostly high leading indexes. Dow Jones index gained about 0,45% at the very beginning of the trading, but soon Dow Jones Industrial Average has collapsed rapidly. DJIA has 9,642.43 points at the momets, the losses are – 90.10 points or -0.93%/. The market during the trading session apparently tries to win back losses of the previous day, which were caused by unfavorable economic statistics. However, statistics provided today is encouraging on the contrary. The U.S. stock trading in total is on a favorable external background: trading sites in Europe opened in plus, the Japanese Nikkei fell only slightly.

Investors’ attention is focused on the developments in the national economy. The report of the Ministry of Labor about the country’s unemployment rate this July that has been published before the beginning of the session surpassed the expectations of the analysts. According to the report, the country’s unemployment rate decreased by 0.2 percentage points compared to the previous month, being now 9.5%. Meanwhile, analysts predicted this value to be at the level of 9,8%. The rates of the banking sector increased after the report of the Ministry: Bank of America, Citigroup and JPMorgan Chase shares rose in price by 0,2%, 0,9% and 1,6% respectively, the Wells Fargo and Goldman Sachs securities went up by 1,3% and 0,2% respectively. The rising dynamics of the rates dominates in the stocks of the companies from the Dow 30: Caterpillar stocks rose in price by 0,6%, Coca-Cola securities rose also by 0,6%, Johnson & Johnson shares – by 0,6%. Though by now the Dow Jones index fell by the -73.45 points (-0.75%).

Olga Bespalova
2010-07-02 17:15, Economics.

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2 comments к “Collapse – DJIA keeps falling down despite the promising start”

  1. habu Says:

    It’s the end of the world………..

    No it is a bear market, it is caused by more sellers than buyers. The U.S. is facing the largest tax hike in it’s history in 6 months and sellers are doing the rational thing …. Getting out.

    What a dick weed organization.

    learn english

    Like rules for plural/singular, dangling participle.

  2. Dascia Says:

    I see you’re really good man. I like u my precious

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