Wall Street shows downtrend due to US unemployment data
On its fourth consecutive day, the Dow Jones shows losses approaching its value at 5%
Wall Street opened this Thursday with strong losses and its main indicator, the Dow Jones Industrials, fell to 1.19%, for 277.04 points, due to the negative unemployment data that the United States had in the week of May 9.
The New York Stock Exchange is at 22,970.93 integers, due to the overload especially by large listed companies such as Boeing (-3.17%) and Dow Inc (-3.09%). The same happened with the S&P 500, which was 1.11% down, which translates to 31.39 points, and the Nasdaq composite market index, which groups important technology companies, which left 0.84% or 74.55 units, for 8,788.61 points.
Some analysts assure that this scenario shows an overvaluation in the market, causing that the relation between the risk and the reward for the investment in stocks become one of the worst in the history of the New York Stock Exchange.
In this context, most of the large listed companies of the Industrial Dow Jones operated in the red and, in addition to Boeing and Dow Inc, other companies such as Caterpillar (-2.9%) or Exxon Mobil (-2.74%) featured losses.
In other markets, Texas oil was down 0.27% to $ 25.71 a barrel, higher than expected US inventories.
K.Villarroel
Source: bancaynegocios
