Stocks for Dow took a major decline on Friday when investors reacted coldly. As a result Dow suffered from a 150 points decline. Major averages for Dow are now logging in their ever weekly decline in a total of five weeks as investors are hesitating to jump in before the Federal Reserve's meeting and the trending non-farm payroll reports.
In Wall Street, stocks are triggering off with a very weak start owning to many setbacks the technology sector has seen over times. The decline for Dow on Friday equaled 75 points, a total of 0.5% to 15,481 in the initial 90 minutes when the trading started off. (Source: news.morningstar.com/BriefNet/MarketUpda...)
Early Thursday Dow, recovered with a small gain and then dipped 93 points on a total after a roller coaster ride. NASDAQ and Standard & Poor were found to be in the red zone. This occurred mainly as a consequence when consumer staples and materials lagged behind dragged S&P sectors into a negative zone. According to the CBOE Volatility Index (VIX,) NASDAQ's composite fell 13 points, a total of 0.4% to 3,592 whereas S&P 500 suffered with a 6 point decline totaling to 0.4% to 1683. (Source: www.cnbc.com/id/100916804)
For Dow, the badly missed Wall Street expectations have been a result of staggering weaknesses technology companies are going through this month. During the entire session, Dow points suffered a total decline worth 150 points and ended with barely 3 points ahead. The weekly gain for Dow and its fifth straight was up 0.1% on the index. Altogether Dow has gone up almost 19% during the past months during this year. (Source: www.marketwatch.com/story/us-stocks-down...)
While technology companies faced a setback amongst 10 major industry groups, health care seems to have rebounded. The index for the US market is up 19% for the year.
The director of asset allocation at Wilmington Trust Investment Advisors Cam Albright explained that the market has had a good start near the peak and with earnings season having been halfway over, the results were characterized so far to be just OK, nothing extreme. Furthermore, the economy is being considered to do better in the second half of the season and come out gracefully from the ups and downs. The second half of the earning season is being thought to be strong enough to support the market and help prices move forward.
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