U.S. stock indexes declined on the basis of bidding on Friday, the market concluded the first week of the fall of the five, reports Bloomberg. Futures on the indexes in the United States desheveyut Monday, 8:35 to reduce the quotation is 0,7-0,8%.
negative impact on the U.S. stock market had a sudden decrease in data on consumer confidence in the country, supporting the concern that the recent rally is not justified by the prospects of restoring the U.S. economy.
Preliminary index of consumer confidence in the U.S., calculated by economists from the University of Michigan, unexpectedly fell in August to 63.2 points compared with 66 points in July. Analysts had expected improve to 69 points.
Standard Poor s 500 jumped by 50% over the period from March 9 to 13 August, which led to an increase in the value of securities of companies included in the calculation of this indicator, in their returns, up to 18.7 - the highest level in December 2004 year. This is the rally on the American stock market was the strongest since 1938.
According to thechief portfolio strategist Federated Investors Inc. David Taisei, the U.S. stock market significantly overvalued. According to experts, the financial crisis will continue to restrain consumer spending in the country.
I would like to return to prosperity, but it is necessary to realistically assess the situation, the release of the residue of what remains of the credit bubble will take time, - said Dmitry Taisei.
Podyndeks SP 500, in the calculation which includes shares of retailers, network operators of hotels and restaurants, dropped as a result of trades on Friday at 2.6%, which was the highest fall among the 10 major industry groups, this indicator.
Shares Best Buy cheaper at 8.3% - to $ 36.44. Analysts Goldman Sachs lowered the recommendations for securities retailer to neutral from buy. According to experts, the increase in competition could negatively affect the company's profits.
The value of securities
J.C. Penney declined by 9.1% - to $ 31.29. The owner of one of the largest U.S. network of department stores recorded a net loss of $ 1 million in the second fiscal quarter, completed on 1 August 2009. A year earlier, the company received a net profit of $ 117 million, or 52 cents per share.
Revenue
J.C. Penney declined by 7.9% - to $ 3.94 billion, sales of stores open more than a year ago, fell by 9.5%.
There is some caution in determining the prognosis for the end of this year and next year - said the manager Pioneer Investments in Boston, John Kerry. - In spring it seemed that consumer confidence is restored, but now it crashes again.
Price Morgan Stanley shares fell as a result of trades at 4.6% - to $ 29,79, Bank of New York Mellon - by 5,7%, to $ 28.57.
Quotations
securities of banks declined on forecasts Rochdale Securities analyst Dick Бува that the profits of financial companies the U.S. does not improve in the second half of this year.
Experts believe that the rally in the banking sector was due to a change of investors in financial companies, not the prospects of their profits.
Index Dow Jones Industrial Average to close down the market on Friday at 76.79 points (0.82%) - up to 9321.4.
Standard Poor s 500 has decreased by 8.64 points (0.85%) totaled 1004.09.
Value Nasdaq Composite Index declined by 22.83 points (1.19%) - to 1985,52.
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