Wall Street in the dark red - June 30, 2010
In a market worried about the evolution of global growth after poor figures from Asia, European exchanges were falling sharply this morning and Wall Street follows the same path. In the first exchanges, the Dow Jones, who started the session on a drop of 0.75%, accelerates quickly to its fall -1.31% to 10,006 points. The Nasdaq also lost 1.70% to 2183 points and the S & P was down 1.49% to 1059 points.
On Monday, the Dow Jones plunged into the red light moments before the closing. It has receded by 0.05%.
As evidenced by the very low volumes of trade these days, the caution among investors, who are eagerly awaiting the release of employment figures on Friday. Trading volumes remain low.In addition to "the decline of the euro against the dollar, under $ 1.23 in mid-session, weighed on the direction of Wall Street, analysts said Aurel Bgc. A large number of awards, including Spain (Thursday) take place this week and the markets may remain nervous before the termination of the operation of 442 billion euros from the ECB on Thursday. "
Consumer confidence is expected to increase
Meanwhile, on the side of macroeconomic indicators, after consumer spending, announced Monday an increase of 0.2% annualized, against 0.1% expected, consumer confidence is to be unveiled Tuesday. And it is expected to clear up.
Moreover, housing prices in the United States rallied in April, after declining in March, according to the monthly Standard and Poor's / Case-Shiller.They rose 0.4% from the previous month (seasonally adjusted) after falling 0.2% in March.
On the face of currency, the euro continued its fall against the dollar, penalized by fears about the strength of economic recovery and China on debt in the euro area. Around 1530, the euro stood at 1.2181 dollars (-0.86%).
As for values, the 3M group (-1.23% to 78.01 dollars) should respond well after the stock market announcements made on Monday after closing. The industry has raised its guidances for the second quarter with a turnover of between 6.6 and 6.75 billion dollars against 6.52 billion dollars expected.The organic sales growth would be between 16 and 18%.
The book distributor Barnes & Noble (-11.70% 14.49 dollars) might instead fall after announcing a loss of 85 cents to $ 1.15 per share against 45 cents a share. The turnover will be between 1.32 and 1.11 billion dollars against 1.28 billion initially expected.
Google (-1.92% to $ 463) also made the headlines, the U.S. computer giant has sold a deal in Beijing.Given the refusal of China to see the California company to redirect its users to search the HK Group U.S., Google has decided to terminate the transfer, in order not to be censored by Beijing.
Californian Tesla goes public
Tesla electric car manufacturer in California, which comes on Tuesday on the Nasdaq stock exchange, announced Monday it had raised over 200 million dollars with this, beyond his expectations. According to final results of the offering, 13.3 million shares were placed on the market at a price of $ 17, while the group expected more than $ 16. This represents a total of $ 226.1 million, including about 202 million directly back to him. In trading, the shares lost 0.52% to 3.52 dollars.