From today: The stock market dropped sharply on Thursday, with the Standard & Poor’s 500-stock index posting its worst daily decline since April and first monthly drop since January, as concerns grew over the strength of overseas economies and continuing tensions with Russia.
The Dow Jones industrial average fell 317.06 points, or 1.88 percent, to close at 16,563.30, according to preliminary figures. The S.&P. 500 lost 39.40 points, or 2 percent, to 1,930.67. The Nasdaq composite index dropped 93.13 points, or 2.09 percent, to 4,369.77. The S.&P. 500, falling in its biggest one-day decline since April 10, moved solidly under its 50-day moving average, a level it has not closed below since April 15. The moving average is viewed as a sign of short-term momentum, and selling accelerated after the level was breached. Weak economic data contributed to the market’s bearish tone: Jobless claims rose more than expected in the latest week and the Chicago Purchasing Managers Index unexpectedly fell in July to its lowest since June 2013. full: http://www.nytimes.com/2014/08/01/business/daily-stock-market-activity.html From yesterday: Bouncing Back, Economy Grew 4% for Quarter By DIONNE SEARCEY The United States economy rebounded strongly in the second quarter of the year, shaking off the negative effects of an unusually harsh winter and stirring hopes that it might finally be establishing a solid enough footing to put the lingering effects of the recession squarely in the past. The Commerce Department, in its initial estimate for April, May and June, reported on Wednesday that the economy grew at a seasonally adjusted annual rate of 4 percent, surpassing expectations. full: http://www.nytimes.com/2014/07/31/business/economy/us-economy-grew-4-in-second-quarter.html _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
