Wall Street ends slightly down

U.S. stocks finished lower Friday as investors questioned the robustness of recovery after the announcement of job losses in the U.S. were added to several indicators considered disappointing.

The Dow Jones ended down 0.47% at 9686.48 points, while the Standard & Poor's 500 index also lost 0.47% to 1022.58 points.The Nasdaq composite yielded 0.46% at 2091.79 points.

For the week, the Dow lost 4.5%, the S & P 5% and the Nasdaq 5.9%.

The U.S. economy is destroying jobs last month – 125,000 – for the first time since the beginning of the year, with the end of thousands of temporary contracts in the public sector related to the identification and recruitment of fewer than expected in private.

The unemployment rate however declined to 9.5%, its lowest level since July 2009, the final output for the labor market of some of the unemployed.

The sharper drop than expected industrial orders in May also weighed on the trend.

Another sign of concern, the moving average 50 days of the S & P 500's fell below its moving average 200 days. This configuration, which sees an average short less than an average long known as the "cross of death".

The phenomenon between the moving averages at 50 and 200 days happened the last time in December 2007, shortly after the market had begun a decline that had led the S & P to its lowest in 12 years.

On the front of values, financial values and sensitive to economic cycles have been neglected.The S & P 500 financials fell 1.1%, as well as some consumer values.

Volumes were thin, many players who left the office earlier in the weekend of Independence Day. The markets will be closed Monday.

In contrast, values were sought after biotech news reports that Sanofi-Aventis prepare a large acquisition in the United States.

Biogen gained 5.76% to U.S. $ 49.42, Allergan 62.29 dollars to 7.21% and 5.9% to Genzyme 52.80 dollars.

July 2nd, 2010 in advertising, business success, calculation, corporations, plans | tags: , , , ,