Towards 16:15 GMT, Dow Jones Industrial Average (DJIA) took 29,39 points at 8.408,34 points, and Nasdaq, with dominant technological, moved back of 14,02 points at 1.538,01 points. ( Finance Information City )
The Standard widened index & Poor' S 500 yielded as for him 0,55% (4,80 points), at 871,97 points.
Friday, Wall Street had finished in strong fall, even if it had clearly limited the damage after the panic which had already seized the other money markets. Dow Jones had lost 3,59%, Nasdaq 3,23% and the S&P 500 3,45%.
The New Yorkean place, in strong fall with the opening, joined again with its hesitations and then oscillated between the red and the green, divided between fears of a long and major recession and drives out with the good deals.
Before its opening, Asian markets and Europeans plunged, Tokyo Stock Exchange falling of more than 6% with the fence, on its low level in 26 years.
“The market remains very volatile, that reflects uncertainties which remain numerous: on a side the investors worry about a world recession, other, they go count that many actions are underestimated”, explained Hugh Johnson, of Johnson Illington Advisors.
“These two opinions confront every day and cause broad movements. As long as the investors will not have decided on the direction to take, that will continue”, it added.
“Fears (of the investors) are justified, but the good news is that the governments recognize the gravity of the problems and their interventions to support the financial institutions were considerable”, estimated Al Goldman, of Wachovia Securities.
125 billion dollars intended for recapitaliser the nine plus large banks of the United States must be freed this week, announced the American Treasury.
The nine banks concerned are Citigroup (+0,25%), JPMorgan Chase (- 1,33%), Bank off America (+0,76%), Wells Fargo (+3,14%), Goldman Sachs (- 7,43%), Morgan Stanley (- 13,50%), Merrill Lynch (- 2,71%), Bank off New York Mellon (+0,54%) and State Street (- 1,41%).
The Treasury also gave its “preliminary agreement” for a series of other institutions, which wish to take part in this program, in particular of the large district banks, whose titles went up.
Always in the financial sector, according to Financial Times, the chairman from Goldman Sachs called last month his counterpart of Citigroup to discuss a possible bringing together of the two groups.
The Verizon telecommunications operator went up from 8,65% to 27,25 dollars: its chairman indicated to count on a progression of his earning per share from approximately 8% in 2008, in conformity with his past expectations.
The regional operator of Embarq telecommunications took 4,10% to 30,96 dollars. Its CenturyTel competitor (- 13,05% to 25,65 dollars) will acquire it for 5,8 billion dollars. The offer represents a premium of 36% on closing rates of Embarq Friday evening.
The bond market went up. The output of the Treasury bill at 10 years moved back to 3,686%, against 3,697% Friday evening, and that at 30 years with 4,021%, against 4,087% the day before. ( Finance Information City )
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