Most state index fell on Thursday, though managed to recover part of the accumulated losses at the beginning of the session, after technology companies grew in anticipation of the results of Google Inc. The heavy sales hit the financial sector after JP Morgan Chase & Co. announced disappointing data on profits in the third quarter. The S&P 500 Index fell 0.30 percent to 1204 points. Least among the 10 industry groups of the index presented financial companies with losses of 2.8%. Technology and telecommunications sector grew. The index has increased by 6% months after the close on Wednesday at levels of over 1,200 points for the first time in 3 weeks.
“It is quite normal when you reach the short peak to see some volatility before to test new levels”, said James Daly, investment director of TEAM Financial Asset Management. Nasdaq Composite Index rose 0.60 percent to 2620 points. After completion of the session is expected to announce Google profits from 8.74 dollars per share. Google is the third major U.S. company that announced their results this week.
Following the publication of negative data from China and Europe, Dow Jones Industrial Average fell 0.35 percent to 11,478 points. The shares up some of their losses after the Slovak Parliament approved the extension of the European Financial Stability Fund. Among blue chip losers ranks JP Morgan Chase, after the bank announced a drop in net income for the third quarter. Next week investors await reports from Citigroup Inc., Bank of America Corp. and Goldman Sachs Group Inc.

Tags: NYSE, stocks, US Indexes, US Shares

This entry was posted on Thursday, October 13th, 2011 at 10:47 pm and is filed under USA Finances. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.