Wall Street stock indexes decline

Posted by Eka on Jul 02, 2010 | Leave a Comment

stock indexes decline

Image: AP

Wall Street stock indexes back down. The decline this time caused by unfavorable reports on the employment sector, housing, and manufacturing in the U.S.

At the end of the transaction Thursday afternoon New York time, the stock price index, the Dow Jones industrial fell 41.49 points (0.4 percent) to 9732.53. In the last few days, the Dow continues to set lowest records since October 2009.

Index Standard & Poor’s 500 fell 3.34 points (0.3 percent) to 1027.53. Similarly, the Nasdaq composite index, fell 7.88 points (0.4 percent) to 2101.36.

Anthony Chan, economist at JP Morgan Private Wealth Management, a rate that the expectations of stock market participants are now so low. “So many people are already upset with the negative numbers, so although there are signs of awakening, may be less influential,” said Chan.

Investors re-presented with a disappointing report on the labor sector. According to U.S. government reports, the number of new applicants for unemployment benefits last week rose by 13,000 people to 472 000 applicants. Yet economists predict decrease in the number.

The report comes a day after the payroll services company ADP revealed that the private sector in June and did not increase recruitment as previously thought.

Among stock market participants believe that the number of applicants for unemployment benefits could be an indicator for the rise and fall of the monthly unemployment rate, which will be announced by the U.S. government this weekend.

Traders on Wall Street is also worried by reports from the National Association of realtors (NAR) that the number of home buyers who have signed the May contract fell after the end of the tax incentive program to purchase a house from the government on 30 April.

The report from the Institute for Supply Management, which expresses the decrease in June manufacturing index, are also making traders grim on Wall Street. Now, they are waiting for monthly reports from the U.S. administration regarding the unemployment rate, which will be announced Friday local time.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Technorati
  • Wikio
  • Yahoo! Buzz

Leave a comment

Advertisement

Subscription

You can subscribe by e-mail to receive news updates and breaking stories.

ADVERTISEMENT

Tag Cloud

  • newspaper subscription decline

  • Eka
Breaking News