2010/11/30

Morning: PMI and consumer confidence in the narrow-than-expected decline in U.S. stocks

Reduced decline in U.S. stocks on Tuesday morning. The latest Chicago PMI index and U.S. consumer confidence index exceeded expectations, partly offset by negative European sovereign debt crisis and the negative impact of housing market data.
At 10:18 on 30 November EDT, the Dow Jones Industrial Average fell 55.10 points to 10,997.39 points, down 0.50%; the Nasdaq composite index fell 23.42 points to 2,501.80 points, down 0.93%; the S & P 500 Index fell 7.50 points to 1,180.26 points, down 0.63%.
Dow component Hewlett-Packard Company (HPQ) fell 1.2%. With crude oil futures prices fell, the general decline in the Dow energy stocks. Chevron (CVX) fell 0.6%, Exxon Mobil (XOM) fell 0.6%.
Energy and the tech sector led by the Nasdaq and S & P 500 Index.
Economic data side, Standard & Poor's announced in September the Case - Shiller (Case-Shiller) index of U.S. house prices in 20 major cities rose 0.6%, below market expectations. According to Bloomberg News survey of economists forecast an average increase of 1.0%. August of the CS house price index up by 1.7%.
Institute for Supply Management (ISM) announced that the Chicago branch, and 11 months of the Chicago purchasing managers index (PMI) was 62.5 points, ahead of market expectations. According to Bloomberg News survey of economists forecast an average of 59.6 points. October Chicago PMI to 60.6 points.

More:

Euro area: the unemployment rate to its highest level ever


USA: Chicago PMI to its highest since April 2010


Wall Street expected sharp decline at the opening