After starting the session on an uptick, the indices fall into the red after 16 hours. The Dow Jones lost 0.11% to 10.431points, while the S & P coward 0.20% to 1111 points. Only the Nasdaq is on track with an increase of 0.13% to 2292 points. Investors welcomed the announcement of a bad back, unexpected, in May, resales of new housing: – 2.2% last month to 5.66 million units annualized, while economists had forecast an average of 6 12 million units or 5.5%. This further decline comes after two consecutive months of rising sales.
The night before, after long hesitation which direction to take, Wall Street finished little decline in trading volumes very low: The Dow Jones lost 0.08% at 10,442 points, the Nasdaq 0.90% to 2289 points and the S & P500 -0.39% to 1113 points. Previously, Wall Street had lined up eight consecutive sessions.Yesterday, investors have largely reacted to the announcement by China to implement an exchange rate policy more "flexible".
On the foreign exchange market, the euro resumed its decline late Monday afternoon, and continued to fall in the morning against the dollar, falling below 1.23 dollars, amid persistent fears over the economic health Europe Guaranteed payday loans.
Energy and raw material expected
On the side of values, or related companies exporting energy and raw materials may still be affected by the rising yuan including Caterpillar (+0.17% to 66.18 dollars) a strong presence in China, Freeport -McMoRan Copper & Gold (-1.37% to 67.18 dollars) or aluminum specialist Alcoa (-0.17% 11.70 dollars).Conversely, the retail sector could suffer pressure on its margins.
Always on the side of values, Visa (-1.33% to 79.82 dollars) and Mastercard (-0.05% to 223.22 U.S. dollars) closed sharply higher Monday after an agreement between members of Congress on the regulation banking fees.
Also note, Goldman Sachs (-0.37% to 137.23 dollars), receives an extension from the court to answer a complaint filed by the SEC, which accused him of fraud. Goldman Sachs has until July 19 to provide evidence to defend himself against the complaint, which concerns the sale of CDOs.