Closing: Dow down 62 points to 9 points

Source: Internet
Author: User
U.S. stocks declined in Friday, with the U.S. stocks falling 4 days in the 5 trading session this week.  The standard and Poole 5000 index fell 5% this week, the worst week in two months. Today's economic data did not ignite investor enthusiasm, and the Labor Department reported that the CPI remained unchanged in April, consistent with economists ' expectations.  Excluding energy and food prices, the core CPI grew 0.3%, slightly above expectations.  The New York Fed reported that in May, the manufacturing sector shrank much less than economists had expected and less than April, indicating a slowdown in the pace of contraction.  A Friday survey by the University of Michigan and Reuters reported that the U.S. consumer sentiment index rose in early May to a 8-month high. Industrial output fell by 0.5% in April and is expected to fall by 0.6%.  Output utilization is 69.1%, better than the 68.8% forecast.  The 16-member eurozone's first-quarter gross domestic product fell 2.5% per cent in the fourth quarter of 2008, according to Eurostat in Friday, the largest contraction in the eurozone's economic history in the first quarter of last year, indicating a worsening of the severe recession.  New York's crude oil futures fell 2.28 of dollars, charging $56.34 a barrel.  Britain's FTSE 100 index fell 0.3%, Germany's DAX index fell 0.1%, France's CAC-40 index rose 0.4%, and Japan's Nikkei index rose 1.9%. As of the close, the Dow Jones industrial average fell 62.68 points, reporting 8268.64 points, or 0.75%, and the Nasdaq Composite index fell 9.07 points, closing at 1680.14 points, or 0.54%,  The standard and poor 500 index fell 10.19 points, with 882.88 points falling to 1.14%.  As the standard and poor 500 index rebounded 30.5% from its 12-year lows two months ago, some investors decided to drop the bag for Ann. Joe Saluzzi, Themis Trading LLC Securities and Exchange manager, said that "investors have been tired and bank stocks have dragged the market", although today is the May option maturity, but there was no significant turnover on the NYSE, with only 1.5 billion shares traded on the New York Stock Exchange.  The share of the rising stocks in Friday was 1:2 per cent for falling stocks. Insurance stocks become the focus of the market. Hartford Financial Services Group (HIG), Prudential Financial (PRU), Lincoln National (LNC), Allstate (All), Ameriprise (AMP) and principal Financial Group (PFG) and so on received billions of dollars of government rescue funds.  According to the Wall Street Journal, the U.S. government will inject 22 billion of billions of dollars into U.S. insurance companies based on the "TARP" that was launched last year. Hartford Fell back, the closing fell 15 cents, and LINCOLN national fell 12 cents.  The news that insurers are getting government aid can also be understood to pose a serious threat to the US financial system. The financial sector fell 2.5% per cent, the first in a row. The energy sector has fallen by 2.2% per cent, affected by a sharp fall in oil prices.  The utility sector has been underperforming all day, with electricity stocks in the sector down 2.7%. General Motors (GM) said in Friday that it would cut the number of U.S. dealers by 1100, and Chrysler announced yesterday that it would reduce its dealer size by One-fourth.  General Motors fell 5.2%. Treasury bond markets fell, with 10-year yields rising from 3.09% in Thursday to 3.14%.

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