On Monday, the US stock markets started the trading day with a major decline, mainly due to lower July sales and poorer economic forecasts for the US and the rest of the world.
Standard & Poor's 500 lost 5,70 points or 0,42%. Now it is around 1351,08. Nasdaq Composite dropped 15,09 points (0,52 %), closing the day at 2893,38. However, Citigroup’s stock managed to gain 2,1%. The bank’s net income dropped by 12% in Q2 2012 - 2,95 bn.
Goldman Sachs Group. One of the biggest banks in the USA, saw its stock loosing 0.2% of its value. Tomorrow the bank is to publish a quarterly income report.
Human Genome Sciences’ stock increased by 3% up to $13,98 per share. The growth is mainly caused by the fact that GlaxoSmithKline is going to buy the company for $14,25 per share or $3,6 bn.
According to , Dow Jones Industrial Average lost 56,31 points down to 12720,78 points. The experts anticipate uncertainty in mid-term perspective as the index stays within the 13721,65-14063,44 range. If the price breaks above the top of the range, the price may hit 14122,50. Alternatively a break below 13786,93 and the bottom of the range located at 13721,65 will trigger a short-term bearish move (as shown below):
