Home News Wall Street weaker in early trade

Wall Street weaker in early trade


2010-07-22_WallStreet_ddp NEW YORK (Dow Jones) – Weaker tend U.S. stock markets in early trade on Tuesday. The Dow Jones Industrial Average for 30 Industrials ( DJIA ) gives to clock 16.40 BST by 1.1 % or 117 points according to 10 582 . The S & P 500 dropped by 1.2% or 13 points to 1115 . The Nasdaq Composite is up 1.6 % and returned 36 points to 2270 . ( Reuters photo 🙂

Dealers justify the losses with uncertainty ahead of the  monetary policy decision of the Federal Reserve. It is regarded as questionable  whether the Federal Reserve because of the still fragile situation of the U.S. economy initiate a new round of quantitative easing , so For example, mortgage or even buy government bonds .
There are also bad news from cyclical side. The U.S. productivity is the first time since the fourth quarter of 2008 back again. She has fallen in the second quarter by 0.9 %, while an increase was expected of 0.2 %. Also have disappointing trade data from China , the Asian markets into the red pressed and also caused the European stock taxes.
As mentioned key support for the S & P 500 technical analysts, the mark of 1101 points. As long as the index has moved beyond that mark, the opportunity exists for a re- Increase.
Shares of Ambac Financial Group are under pressure, after the bond insurer for the second quarter loss has shown . Ambac closed the quarter with a net loss of 56.7  Million or $ 0.20 per share from . The stock broke around 21 % to 0.72  USD one . it looks better at MBIA. The insurer is in the second Quarter profit increase of 44 % recorded what the shares to 5 % profit  helps to $ 9.65 .
Fossil place even by 7.4 % to $ 45.59 . The Fashion company has posted record second quarter results and the  Profit more than tripled. Additionally , the prognosis for the Full year for the second time raised.

  DJG / mif / gei / mrf