Wall Street ended down, the Dow Jones fell by 1.4%
August 30, 2010 – 4:05 pmThe U.S. stock markets are left to lower Monday as investors continued to question the health of the U.S. economy, despite the announcement of an increase in household consumption.
The Dow Jones has sold 1.39% or 140.92 points at 10,009.73 points, the Standard & Poor's 500 index 1.47% or 15.67 points to 1048.92 points and the Nasdaq Composite 1.56 % or 33.66 points to 2119.97 points.
The announcement by Barack Obama of making the study of new stimulus measures including tax breaks, failed to reassure investors who stand on guard before the employment figures for the month of August Expected Friday.Investors were apparently disappointed at the lack of detail on the proposed measures.
The stock, which was down at the time of listing, has increased its decline after the release of White House statement.
Banks were particularly affected by the distrust of investors. Bank of America has come a decline of 2.53% and 2.4% Citigroup.
The 3M group sold 1.67% to 79.65 dollars after announcing a friendly takeover bid of more than 900 million dollars (708 million euros), the specialist Cogent biometric identification.The title ended on Cogent jumped 24.4% to 11.09 dollars, a level higher than the price of $ 10.50 offered by 3M, which means that the market does not offer one-cons.
In this context, the market ignored the announcement by the Commerce Department a 0.4% increase in consumer spending of U.S. households in July. This is the strongest gain in four months.
As for increases, Genzyme won 3.4% to 69.91 dollars.The biotechnology company rejected a proposal to purchase $ 18.5 billion (14.5 billion euros) from Sanofi-Aventis, feeling undervalued.
Hewlett-Packard gained 1.47% to 38.56 dollars, having announced that its board had authorized for ten billion dollars in additional share repurchases.
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