Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) moves with high volatility. This proves investors wait and see on U.S. economic data that will be released.
The three major U.S. indices are still depressed in spite of trading the news emerged about the progress of plans new debt to Greece that triggered the rebound. However, investors did not seem willing to take risks with economic data this time.
"The direction of the market depends on the data to be released, investors will need to see a more robust data package to move the market,"explained Director of BNY Mellon Wealth Management Christopher Sheldon was quoted as saying by Reuters on Friday (06/03/2011).
Non-farm payroll data expected to show the existence of an additional 150,000 jobs in May, according to Thomson Reuters poll. But because of weak economic data earlier investors, the stock market plummeted in the worst one this year. "Given the recent losses, the potential downside is still there," said Sheldon.
Bank stocks stable after earlier falling on news of Goldman Sachs Group Inc. has been ordered by prosecutors in New York seeking information related to the global financial crisis. Goldman shares fell 1.3 percent to USD134, 38, while the KBW Bank Index rose 0.2 percent after falling earlier.
At the close of trading on Thursday (06/02/2011) local time, the Dow Jones industrial fell 41.59 points, or 0.34 percent to 12248.55. The broader Standard & Poor's 500 index dropped 1.61 points, or 0.12 percent to 1312.94. And the Nasdaq Composite Index rose 4.12 points, or 0.15 percent, to 2773.31. (GoFinance)
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