Investors are cashing out
by Claudia Sonea
Wall Street is under the spot light again. This Monday stocks rallied and market's major indexes indicated modest losses, advancers outpaced decliners by about 2 to 1 on the New York Stock Exchange. This was generated by investors wanting to cash out in the light of a new increase in oil price generated by Iran’s nuclear program and the tensions it created in the Middle East. New York Mercantile Exchange showed an increase in light sweet crude oil of $2.16.
Bank of America Corp., the second-largest US bank, was another important factor in investors’ behavior announcing that due to the recent investment revenue for the second quarter rose. It is the fourth of the nation's five biggest banks that reported better-than-expected earnings, thus giving hope for the credit crunch to come to an end.
What could be remarked on Monday was that the pharmaceutical area was hit, the Dow Jones fell 29.23, broader indexes showed declines, the Standard & Poor's 500 index lost 0.68, and the Nasdaq composite index slipped 0.14 percent and closed to 2,279.53. The drops follow last week’s increases. Even the yield on the benchmark 10-year Treasury note fell 0.05. However, bond and gold prices like usual rose.
Investors’ behavior on Monday’s session was somewhat influenced by a new increase in hope of new mergers and acquisitions, which have been sluggish since the credit crunch. Swiss drug maker Roche Holding already made public its intention of buying out Genentech Inc., while the love story between Yahoo and Microsoft is coming to an end this 1 August. Therefore next week all the news will be smashing. Stay connected.
related story: http://news.yahoo.com/s/ap/20080721/ap_on_sp_go_ne/glf_wie_pga_tour;_ylt=AmvC5Dw2wdb4Ua3gU.vycXes0NUE
PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>
posted by Lucia Adamova
Bank of America Corp., the second-largest US bank, was another important factor in investors’ behavior announcing that due to the recent investment revenue for the second quarter rose. It is the fourth of the nation's five biggest banks that reported better-than-expected earnings, thus giving hope for the credit crunch to come to an end.
What could be remarked on Monday was that the pharmaceutical area was hit, the Dow Jones fell 29.23, broader indexes showed declines, the Standard & Poor's 500 index lost 0.68, and the Nasdaq composite index slipped 0.14 percent and closed to 2,279.53. The drops follow last week’s increases. Even the yield on the benchmark 10-year Treasury note fell 0.05. However, bond and gold prices like usual rose.
Investors’ behavior on Monday’s session was somewhat influenced by a new increase in hope of new mergers and acquisitions, which have been sluggish since the credit crunch. Swiss drug maker Roche Holding already made public its intention of buying out Genentech Inc., while the love story between Yahoo and Microsoft is coming to an end this 1 August. Therefore next week all the news will be smashing. Stay connected.
related story: http://news.yahoo.com/s/ap/20080721/ap_on_sp_go_ne/glf_wie_pga_tour;_ylt=AmvC5Dw2wdb4Ua3gU.vycXes0NUE
| by Claudia Sonea for PocketNews (http://pocketnews.tv) |
PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>
posted by Lucia Adamova
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