Wall Street closed in the red zone in trading Thursday (01/31/2013) local time. Data compiled by Bloomberg shows, at 1600 New York, the Standard & Poor's 500 index fell 0.3 percent to 1498.11.
Wall Street closed in the red zone in trading Thursday (01/31/2013) local time. Data compiled by Bloomberg shows, at 1600 New York, the Standard & Poor's 500 index fell 0.3 percent to 1498.11. Meanwhile, the Dow Jones Industrial Average declined 0.4 percent to 13860.58.
Approximately 7.1 billion shares changed hands in the transaction last day of January. This figure is 16 percent above its average quarterly transaction volume.
One of the leading Wall Street sentiment is the performance of listed companies trimmed under analyst estimates.
The movement also affect the number of shares of the U.S. market. One of them namely, United Parcel Service Inc. fell 2.4 percent after predicting drop in profits due to the low number of deliveries due to the global crisis. Then, there is the Dow Chemical Co., which fell 7 percent after the company's earnings below forecast due to declining sales in Europe.
ConocoPhillips shares also fell 5.1 percent after it said its oil and gas will reach its lowest level this year. Meanwhile, shares of Qualcomm Inc. and JDS Uniphase Corp. each rallied 3.9 percent and 17 percent in the middle income is better than anticipated.
In addition, market participants also chose to wait for data on U.S. employment will be released today.
"The market needs fresh air to breathe. Unless the economic news is significantly above or below expectations, then the market will move down. Diverse data potentially encouraging profit-taking," said Eric Green, director of research at Penn Capital Philadelphia.
Just for additional information, the S & P 500 has climbed 5 percent this month. Meanwhile, the Dow Jones has rallied 5.8 percent.