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Archive | June 24th, 2010

US Indexes closed with decrease

US IndexesThe U.S. shares lost positions in the last hours of trading stock on Thursday, with unsatisfactory results dragged down shares of companies trading in consumer goods, while the energy sector has suffered due to uncertainty about the moratorium on drilling for oil in deep waters. Standard & Poor’s 500 has made a loss for the fourth straight day – the longest red index series for seven weeks. S & P 500 fell 1.68 percent to 1074 points. Nasdaq Composite lost 1.63 percent to 2217 points. “The mood of the market is bleak,” said Steve Sosnik, strategist Timber Hill LLC / Interactive Brokers Group LLC. “The feeling is not good, and the reason is not just one article or adopting a new law. This is a disease, “he added. Dow Jones Industrial Average lost 1.41 percent to 10,153 points. J.P. Morgan Chase and Bank of America lost their positions in anticipation of new details about the legislation governing the financial sector, which is expected to agree the Senate and Congress in Washington. The new law is likely to tighten control over the financial sector more than analysts expected. Lawmakers have agreed on new capital requirements for banks that will have a five-year grace period. According to a clause proposed by Congress, the White House administration will be able to levy any bank that failed to repay the Federal Reserve rescue packages for granted during the financial crisis.
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