US stocks increased drops

Noam Stiekema

The US stocks increased drops from yesterday’s session amid expected start of season reports. The increased concerns among investors that stock prices rose to very high levels, while the global economic recovery remains slow and uneven. At the end of the session on Wall Street Dow Jones fell 0.69% to 16,907 points, S&P 500 also […]

Wall Street

Wall StreetThe US stocks increased drops from yesterday’s session amid expected start of season reports. The increased concerns among investors that stock prices rose to very high levels, while the global economic recovery remains slow and uneven. At the end of the session on Wall Street Dow Jones fell 0.69% to 16,907 points, S&P 500 also erased 0.69% to 1964 points, while the Nasdaq fell by 1.36% to 4391 points.

Given that the market has recently reached new record levels, hardly shares will celebrate new growth without major new catalyst. This role can play a season reports complement analysts. The start of the season was given by Alcoa, which first published its report today. The company posted a profit of 18 cents per share for the second quarter on revenue of 5.84 billion dollars. Analysts polled by Reuters expected earnings per share to 12 cents and revenue – 5.66 billion USD. The CEO of the company determine the performance as “fantastic”, confirming the interest and focus to business and other metals.

In late trading the company’s shares rose by just under 2%. In the post-trade growth slowed to just under rate. The shares of Twitter Inc and Pandora Media Inc were the losers of Internet stocks in today’s session. Along with Internet stocks suffered heavy losses and small stocks. At the same time the stock market in New York futures on the US light crude for August delivery reported an eighth consecutive session of decline. The price fell 13 cents to 103.4 USD per barrel for the recovery of exports of black gold from Libya and the lack of supply problems from Iraq. For the third consecutive session notes and drop the price of gold. Futures of the precious metal for delivery in August fell 50 cents to 1 316.5 USD per ounce.

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