Business news online

U.S. Trade Summary: January finished with losses

Trades in the U.S. on Friday, January 29 stock indexes ended lower. Is not the first time this year the stock indexes have lost despite good macroeconomic data and corporate reports. And this is very wary of players and analysts.

As a result of the auctions the index of “blue chips” Dow Jones Industrial Average fell 53.36 points, or 0.5%, to 10067 points. The index of wide market S & P 500 closed lower at 10.66 points, or 0.9%, at around 1074 points. “Hi-tech” Nasdaq Composite closed lower at 31.65 points, or 1.4%, at around 2147 points.

Over the past month the index Dow Jones Industrial Average fell by 3,5%, the index broad market S & P 500 fell 3.7%, and high-tech Nasdaq Composite declined by 5,4%.

All economic and corporate data speak in favor of continuing the growth of stock indices, but the market further and further setbacks.

Before the session was issued a preliminary value of GDP for the IV quarter, which proved to be considerably better forecasts of analysts. One of the main economic indicators increased its value by 5,7%, while analysts predict its growth at 4.6%. In III quarter GDP grew by 2,2%.

Also became known unit labor costs for the IV quarter, which also turned out to be better projected to rise by 0,5% with an estimated increase of 0 , 4%.

Of the companies included in the Dow before the start of trading reported back oil Chevron. The results of its activities in the IV quarter were slightly worse than analysts’ forecasts, due to lower demand for diesel fuel and gasoline. As a result of the quarter the size of Chevron profit of $1.53 per share, while analysts had expected that this figure will be equal to $1.69 on the paper. The company’s shares fell 1,5%.

After the start of trading became known to the final consumer confidence index data of the University of Michigan and the Chicago index of business activity in January, which also proved to be better than analysts’ forecasts.

So, the final index of consumer confidence in the University of Michigan in January amounted to 74.4 points, predicted 73 points, the previous value of 72.5 points. In turn, Chicago’s business activity index in January rose to 61.5 points, 57.4 points predicted, the previous value of 58.7 points.