The Dow Jones closed 11 points lower in trading Wednesday (18/11/2009) local time, as the monthly data release of the home construction sector and disappointing projections. Observed, the index ended the day lower its highest level in 13 months.
Some analysts said the index needed to rest a few days after the last reinforcement. “A little consolidation in the trade. The trader was too afraid to leave the market too long,” said Senior Vice President of Global Interest Rate Products Chicago MF Global John Brady, as quoted from Assosiated Press, Thursday (19/11/2009). Meanwhile, economic data that was reported to be making some investors wary of the economic recovery to the front.
U.S. Commerce Department said construction homes and apartments fell to as low as 10.6 percent in October and then become 529 thousand. Economists project was $ 600 thousand.
A number of technology stocks weakened after BMO Capital Market states, Blackberry maker Research in Motion Ltd. faces increased competition from cell phone calls cheaper.
Sentiment carried the Dow Jones industrial average (DJI) weakened 11.11 points, or 0.11 percent equivalent to 10,426.31. While the index Standard & Poor’s 500 (SPX) thin weakened down 0.52 points, or 0.05 percent to 1109.80 and the Nasdaq Composite Index index (IXIC) weakened 10.64 points, or 0.48 percent equivalent to the level of 2193.14.
