Go Finance Reporting in NEW YORK - Stocks on Wall Street fell on Monday as the outlook for corporate earnings in the future is not satisfactory. In addition to market uncertainty that continues to crawl from abroad, so that the volume reached its lowest level.
Dow Jones Industrial (DJI) lost 22.71 points, or 0.19 percent to 12197.88 position. Standard & Poor's 500 Index's (SPX) fell 3.61 points, or 0.27 percent to 1310.19. While the Nasdaq Composite Index (IXIC) dropped 12.38 points, or 0.45 percent, to 2730.68.
This weakening of one of them supported when the warnings from companies engaged in hospitality service Marriott hotel that is injured. And other consumer stocks during the regular session is also not as expected, followed the announcement of oilfield service companies (HAL.N) Halliburton Co. that its first quarter earnings could be cut.
"A quarter of the outlook for companies is not good now, but I think there will be many surprises, the latest from Halliburton," said Co-Manager of trading at Themis Trading in Chatham, New Jersey, Joe Saluzzi, quoted by Reuters on Tuesday (03 / 29 / 2011).
He said, among the major issues facing towards the next quarter earnings are geopolitical problems originating from North Africa and the Middle East, after the occurrence of natural disasters and Japan's nuclear crisis, and rising input costs.
"If companies can not pass along price increases, we will see some problems and this company's revenue will begin to have problems. Unless they pass it and then we have to sacrifice inflation," said Saluzzi.
Known, the shares of Marriott International (MAR.N) fell 6.3 percent to USD35, 30 during the regular session. Meanwhile, Halliburton shares fell 1.9 percent to USD47 after closing.
These stocks were largely eroded the positive sentiment, with the S & P 500 hit a session peak close to 1320 for consecutive sessions. Driven by strength in the telecommunications sector and consumer spending data. (GoFinance)
No comments:
Post a Comment