Business

All Quiet over Western Front.
by Milota Sidorova

There is neither the guarantee that the economic recession is over, nor the stability that the market was reacting well. After several ups and downs American market slid back loosing few hundred points with Dow Jones. The case for today was declining house sales that went down after five months of relative increase. Sales dropped about 3.6 percent in September and summed 402,000. Sales dropped despite analysts’ expectations. Subsequently indexes declined as the investors stepped back from buying. Dow Jones industrial average dropped 119 points or 1.2 percent to 9,762.69 point level, tech! nologies along with Nasdaq composite tumbled 2.7 percent to 2,059.61 and Russell! 2000 the index monitoring smaller companies got down with 3.6 percent or 20.63 points to 566.36. The Standard & Poor's 500 index slid 20.78, or 2 percent, to 1,042.63. Besides home sales there have been many stocks considered risky. The retreated projected into energy, financial and retail stocks. Goldman Sachs Group Inc also reported that day the third quarter gross domestic product hardly rose to 3 percent annual rate. The quote was nearing 2.7 percent. However, government seems to be having more optimistic reports. Their statistic is reaching 3.3 percent annual growth. Nobody can be surprised with such falloff after a month of promising recovery. The growth was caused by the financial operation and speculation from the major part, so literally spoken, the growth seemed only temporary without any solid basement. However, there’s not much surprise about this week’s recession. Manny Weuntraub, the president of Integre Advisors, NY suggested that anyone should h! ave expected a super robust recovery. But still we’ve he! ard the same things before.

related story (sgx15751): http://news.yahoo.com/s/ap/20091030/ap_on_bi_ge/us_stimulus_...

by Milota Sidorova 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.

posted by Blog TechSource @ 5:29 PM