2010/11/30

Midday: Wall Street consolidation of financial shares lower Pudie

U.S. stocks lower midday to consolidation, the overall decline in financial stocks. Positive economic data offset to some extent, the European sovereign debt crisis could spread the adverse effects of the U.S. stocks plunged at the open after rebound.
At 11:54 on 30 November EDT, the Dow Jones Industrial Average fell 50.06 points to 11,002.43 points, down 0.45%; the Nasdaq composite index fell 28.37 points to 2,496.85 points, down 1.12%; the S & P 500 Index fell 7.24 points to 1,180.52 points, down 0.61%.
Dow Financial stocks generally lower, which JP Morgan Chase (JPM) fell 1.4%, American Express (AXP) fell 1%. With crude oil futures prices fell, the Dow energy stocks were mostly lower. Chevron (CVX) fell 0.7%, Exxon Mobil (XOM) fell 0.3%.
Energy and the tech sector led by the Nasdaq and S & P 500 Index.
In some positive economic data released, the U.S. stock market decline narrowed. Institute for Supply Management (ISM) announced that the Chicago branch, and 11 months of the Chicago purchasing managers index (PMI) was 62.5 points, ahead of market expectations. According to Bloomberg News survey of economists forecast an average of 59.6 points. October Chicago PMI to 60.6 points.
Investment institutions Evercore Wealth Management portfolio manager Bill - Vaughn (Bill Vaughn), said the manufacturing sector report "made people realize that all the conditions are not that bad. In a very long time, the manufacturing sector in the overall economy performance is still strong. "

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