The US stock market review for 09/06/2010

The US stock indices fell on Wednesday after the worries about the global economic growth had refreshed. Dow Jones Industrial Average index dropped by 40.73 points, or by 0.41%, to 9899.25. Nasdaq Composite index lost 11.72 points, or 0.54%, and totaled to 2158.85. it is the lowest closing level since February 10. Standard & Poor’s 500 index declined by 6.31 points, or by 0.59%, to 1055.69. The financial companies’ shares were the weakest on Wednesday. Bank of America shares moved down by 32 cents, or by 2.1%, to $15.01, J.P. Morgan Chase decreased by 66 cents, or by 1.8%, to $37.12. Exxon Mobil shares showed one of the most significant plummets, having plunged by $1.21, or by 2%, to 60.03.
On Wednesday, Dow Jones Industrial Average index was in the positive area for the most part of the session, but in the last hour, it traded lower after Chancellor of Germany Angela Merkel had spoken for the package of tight economizing measures in the amount of 80 bln. euro for the next four years. Merkel said time to level off stimulus and learn a lesson from the debt crisis has come.
On Wednesday, the investors become more optimistic about the world economy due to non-confirmed reports of Reuters that the Chinese export rose by almost 50% in May and also because of the US FRS President Ben Bernanke forecast of economic growth in this and next years.
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