U.S. indexes fell on Monday on fears of excess rally, but futures rise on Tuesday
Sep 1st, 2009 | By admin | Category: Scenario and forecastsU.S. stock indexes fell on Monday on 0,5-1% on fears that a significant rise in the market recently ahead of forecasts of the rate of recovery of the economy, reported Bloomberg.
Nevertheless, quotations of futures on the first day of autumn show positive dynamics: the September contracts for the SP 500 to 8:16 was added 0,21%, for Dow Jones - 0,22%.
Reduced stock indicators on August 31 was observed in different countries, with the leader of falling by China. Shanghai Composite Index fell for a day on 6,7%, the largest decline since June 2008, on fears that the reduction in lending will slow GDP growth of China.
China and the U.S. is now very cost-related. Their stock markets are likely to go together, - considers fund manager Thrivent Asset Management, Michael Binger.
value of shares of aluminum giant Alcoa fell on Monday on 3,6%, which was a record decline among companies of the Dow Jones. Papers of copper and gold producer Freeport-McMoRan Copper Gold fell 3.8%.
Quotes
Exxon Mobil shares fell by 1,4%.
This was due to the strong decrease in the cost of copper over the past two months, as well as the fact that the price of oil has lost nearly $ 3, and fell below $ 70 a barrel. Index Reuters /Jefferies CRB, a calculation which includes 19 commodities, lost 1.6% on Monday.
AIG shares fell 9.8%, while declines were recorded for the first ten trading sessions. In August the price of securities of the insurance company has more than tripled, and analysts believe that such growth is incomprehensible and excessive.
price of Morgan Stanley sank up to the auction by 1,9%. Bank of America analysts downgraded the bank to market to neutral from buy, noting that the growth of quotations was too important.
Walt Disney announced the purchase of Marvel Entertainment Inc., produces comics for $ 4 billion, followed by Walt Disney shares fell 3%. At the same time securities quotes Marvel soared by 25%.
Papers of Baker Hughes fell in price by 9,6% on the message that one of the world's largest oilfield services companies to buy BJ Services, also working in this area, for $ 5,5 billion
According to the company, Baker Hughes will pay for the transaction in cash and shares. For each ordinary share of BJ Services its owners will receive 0.4 shares of Baker Hughes and $ 2.69 in cash. Proposed Baker Hughes price exceeds the value of shares of BJ Services to close the market on August 28 at 16,3%.
reduction of quotations on the New York Stock Exchange on August 31 were observed in five out of six stocks, which became the most important selling for the last two weeks.
Index Dow Jones Industrial Average on Monday fell by 47.92 points (0.5%) - up to 9,496.28 points.
Standard Poor s 500 has decreased on the basis of trading on 8.31 points (0.81%), amounting to 1,020.62 points.
Nasdaq Composite Index value for the day, sank to 19.71 points (0.97%) - up to 2,009.06 points.
In August the whole Dow Jones increased by 3,5%, SP 500 - on 3,4%. The best growth was led by financial companies. Podyndeks SP, in the calculation which includes their shares for the month added 13%.
Since the beginning of this year, raising the Dow Jones 8,2%, SP 500 - 13%. The Nasdaq added in this year's 27,4%.
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