Real estate is shaking Wall Street
Posted by admin | Under economics, money, news, top news, world Wednesday Aug 25, 2010After closing down on Monday evening – the Dow has sold 0.38% to 10,174.4 points – Wall Street did not find this Tuesday, opportunities to redress the balance. Instead, the only indicator fell to 16 hours, is extremely disquieting: Sales of existing homes fell to its lowest level since 1995, to 3.83 million annual rate transactions, according to figures released Tuesday by the National Association of Realtors (NAR).
Upon publication of this indicator, Wall Street has plunged into the red, losing 1.48% to 4:10 p.m. at 10,024 points for the Dow Jones, which amounts to huge step towards the symbolic threshold of 10,000 points.
The broader S & P drops 1.61% at 1050 points and the Nasdaq, which includes technology stocks, yields 1.85% to 2120 points.
It was not until Wednesday to expect an improvement, both on the side of the promises of new home sales and durable goods orders.
Mergers and acquisitions are in full swing
If the bears seem to win now, but Wall Street is torn between the potential positive effects of mergers and acquisitions that animates it and the threats still facing strong economic recovery.
BHP Billiton (-1.94% to 65.83 dollars) is expected to announce on Wednesday a 50% jump in interim profits and strong cash flow with which it hopes to deter potential rivals to make an offer to buy out-cons the Canadian Potash Yet seeking a white knight eventually China.
The French pharmaceutical company Sanofi-Aventis and the U.S. biotech group Genzyme (-0.87% to 67.13 dollars) abut on the determination of a minimum price that would initiate the first comprehensive review of its accounts Target said Tuesday the Wall Street Journal in one hour payday loans.
If Genzyme and Sanofi seem to disagree on the French laboratory's initial offer to buy out U.S. biotech company, however the purchase of McAfee (-0.15% to 47.03 U.S. dollars) Intel (-1.02% to 18.51 U.S. $) continues to fascinate, like the stock market battle between HP and Dell in the acquisition of data storage specialist 3PAR.
The world of mobile phones, Nokia, and the giant American world of microprocessors Intel unveiled on Tuesday a joint research laboratory in central western Finland, they said.
American Apparel (-10.8% to $ 0.66), definitely ailing feared not being able to publish its quarterly results on time and to be delisted.
Disney (-1.70% to 32.37 dollars) could also react to statements yonni Sebbag, the boyfriend of a former employee of the giant media and entertainment Disney, who pleaded guilty to securities fraud Monday after stealing with his partner, financial records of the company and tried to sell to investors.
The dollar to its lowest against the yen
On the currency front, the dollar continued its fall Tuesday against the Japanese yen, down from 9:20 to its lowest level in 15 years, to come punctually at 84.14 yen, immediately after a briefing from the Minister of Finance , Yoshihiko Noda.