Wall Street Stocks Slipping Merck & Unemployment
14 Januari 2011
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NEW YORK - Wall Street again weakened at the close of trading Thursday, January 13 after the market response to negative reports on unemployment benefits that exceed expectations last week.
United States Department of Labor (U.S.) announced that unemployment benefits had increased approximately 35 thousand from the previous week to 445 thousand. This was the highest since October and above the forecast of economists
"This is a number that is very disappointing," said Fort Pitt Capital analyst Kim Caughey Forrest, as quoted by the Associated Press (AP), Friday (1/4/2011).
In addition to unemployment data, shares of Merck & Co. was also observed to decline 6.6 percent to USD34, 69 after clinical trials of cardiovascular drugs was stopped for some patients. Merck shares Terjungkalnya This is also one of the causes of drop in Wall Street. Merck to shares fell the most among the 30 stocks supporting the Dow Jones, while Home Depot Inc., would lead to the strengthening of the index 1.3 percent.
The Dow fell 23 points or 0.2 percent to 11,731.9. Standard and Poor's 500 Index fell two points, or 0.2 percent, to 1283.76. And the Nasdaq composite index fell two points, too, or 0.1 percent, to 2735.29.
The decline occurred in all markets, where seven of the 10 groups of companies that make up the S & P 500 fell. Companies in the field of material showing the largest decline of 0.8 percent.
Meanwhile, Whole Foods Market Inc. jumped 4.6 percent would be USD52, 31 after an analyst said the company's stock will continue to increase because customers are willing to pay higher costs for food or rose nearly 80 percent over the previous year.
Labor Department also reported that wholesale prices for the month of December rose by the largest amount in nearly a year, as a result of higher energy prices and food costs. Meanwhile, other commodity prices rose only slightly so that shows inflation is not spread through the economy.
Decline in the dollar yesterday also helped make the stock limit losses. Dollar yesterday fell 1.1 percent against six major currencies index after a successful bond auction by Spain and Italy pushed the euro higher. Decline in the dollar makes U.S. companies that depend on exports by making them more competitive prices abroad.
After the market closed, Intel Corp. reported that revenue rose 48 percent last quarter, which also beat analysts' estimates.
Bond prices rose, pushing the lower yields. The yield on the 10-year Treasury note fell to 3.30 percent from 3.35 percent late Wednesday. Results are used to set interest rates on various loans, including mortgages.
Four stocks rose for every three shares that fell on the New York Stock Exchange. Consolidated volume totaled 4.4 billion shares.
United States Department of Labor (U.S.) announced that unemployment benefits had increased approximately 35 thousand from the previous week to 445 thousand. This was the highest since October and above the forecast of economists
"This is a number that is very disappointing," said Fort Pitt Capital analyst Kim Caughey Forrest, as quoted by the Associated Press (AP), Friday (1/4/2011).
In addition to unemployment data, shares of Merck & Co. was also observed to decline 6.6 percent to USD34, 69 after clinical trials of cardiovascular drugs was stopped for some patients. Merck shares Terjungkalnya This is also one of the causes of drop in Wall Street. Merck to shares fell the most among the 30 stocks supporting the Dow Jones, while Home Depot Inc., would lead to the strengthening of the index 1.3 percent.
The Dow fell 23 points or 0.2 percent to 11,731.9. Standard and Poor's 500 Index fell two points, or 0.2 percent, to 1283.76. And the Nasdaq composite index fell two points, too, or 0.1 percent, to 2735.29.
The decline occurred in all markets, where seven of the 10 groups of companies that make up the S & P 500 fell. Companies in the field of material showing the largest decline of 0.8 percent.
Meanwhile, Whole Foods Market Inc. jumped 4.6 percent would be USD52, 31 after an analyst said the company's stock will continue to increase because customers are willing to pay higher costs for food or rose nearly 80 percent over the previous year.
Labor Department also reported that wholesale prices for the month of December rose by the largest amount in nearly a year, as a result of higher energy prices and food costs. Meanwhile, other commodity prices rose only slightly so that shows inflation is not spread through the economy.
Decline in the dollar yesterday also helped make the stock limit losses. Dollar yesterday fell 1.1 percent against six major currencies index after a successful bond auction by Spain and Italy pushed the euro higher. Decline in the dollar makes U.S. companies that depend on exports by making them more competitive prices abroad.
After the market closed, Intel Corp. reported that revenue rose 48 percent last quarter, which also beat analysts' estimates.
Bond prices rose, pushing the lower yields. The yield on the 10-year Treasury note fell to 3.30 percent from 3.35 percent late Wednesday. Results are used to set interest rates on various loans, including mortgages.
Four stocks rose for every three shares that fell on the New York Stock Exchange. Consolidated volume totaled 4.4 billion shares.
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