U.S. markets open on a volatile note

Stock markets remain passive

In brief: U.S. markets opened with a slight decrease of principal indices under the condition of general mistrust with investors and bad corporate reporting.

Today’s trading at U.S. markets opened with a slight decrease of share indices. In the early trading DJIA fell by 0.17%, S&P 500 – by 0.25%, Nasdaq – by 0.48%. Investors’ concerns were attributed to today’s macro statistics, which fell short of forecasts both in Europe and the U.S. due to worsening business climate and slow income growth respectively.

In June median personal income grew by 0.2%, against 0.3% as expected in the market. At the same time, personal expenses increased by 0.4%, in line with analysts’ expectations. Most of shares in the DJIA opened in the red zone, except for office appliances producer Hewlett-Packard, whose shares went up by 2.2% after its board of directors announced a $ 10 bln.-worth additional program of share repurchase. On the contrary, 3M shares fell by 0.8% due to company’s decision to buy Cogent Inc. shares at $10.5 per share. Cogent Inc. is a major producer of automated biometrical access systems.

Elena Koschiko
2010-08-31 20:20, Economics.

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