Goldman Sachs troublemaker on Wall Street - April 30, 2010
In the wake of the optimism about the global financial markets, including Wall Street, U.S. stock prices were at a standstill Friday in the opening exchanges.
It was not counting the lower by Standard and Poor's of its recommendation on Goldman Sachs from "hold" to "sell" and its price target from 190 to 140 dollars. The titles of the U.S. bank fell by more than 7%.
Around 4:20 p.m., the Dow Jones, Nasdaq and S & P 500 -0.27% change respectively to 11,137 points, 2,498 points to -0.58% and -0.54% at 1,200 points, after opening around equilibrium .
On Thursday, markets were reassured by announcements from Brussels on the Greek case.This Friday, the country announced it was preparing a shock treatment for the public finances.
The number of days across the Atlantic, guarded by all investors in the financial world, was published at 14.30 Paris time. This is the first estimate of U.S. GDP for the first quarter of the year, which emerged in growth of 3.2%.It's worse than expected.
Indicators to monitor
At the same time, rising labor costs in the United States accelerated in the first quarter for the first time since 2008, according to figures released Friday by the Labor Department.
Increased economic activity in the Chicago area (northern USA), a closely watched index, accelerated in April, the index rose from 59.9 to 63.8 easy payday loans.
Moreover, the morale of U.S. households has deteriorated in April but less than expected, consumers holding that the recovery is well under way even though it is slow, final results showed on Friday of the monthly survey of Thomson Reuters-University Michigan.
McAfee tumbles 12%.
Side companies, results in the first quarter of Chevron reported a net profit of $ 4.55 billion, doubled in a year. The shares are timidly 0.04%, to 82.32 dollars in early trade.
Yesterday, ConocoPhillips (-0.02% to 59.09 dollars), oil group announced it had doubled its profits to 2.1 billion, or 1.4 cents per share. Volume production is down 5.2% on a year (mainly related to the fields in the North Sea), but rising oil prices could imply a higher turnover of 2.6 times.
After-hours trade, McAfee, the editor of anti-virus software has unveiled a decline in profits to 37.6 million dolars, or 23 cents per share.The securities fell by 12.18% to 34.72 dollars.
The U.S. Justice had opened a criminal investigation against the U.S. investment bank Goldman Sachs, say several U.S. media including the Wall Street Journal and Washington Post. The U.S. bank still loses more than 7.6% on Wall Street, 147.1 million.
Standard and Poor's lowered its rating on the bank.