US Markets started with decrease
U.S. markets started the day with the downturn because the terrible reports profits of Deere & Co and Macy's, and the pessimism of investors caused by the estimate of Merrill Lynch, that the expansion of the collapse of the Mortgage market will continue even longer.
Deere, the largest producer of tractors in the world, reported a drop in profits during the third (April-June) financial quarter due to higher prices of raw materials. Since the company registered a reduction of net income to $ 1.32 per share. Securities company are getting cheaper with 6.43%, to $ 64.89, at the opening level of $ 62,430.
Macy's, the second largest chain of stores in the U.S., got cheaper for the second consecutive day after its sales fell because of the growth of unemployment and the decrease in consumption caused mainly by high fuel prices. Shares of the company fell by 2.86%, to $ 19.69, at the opening level of $ 19.77.
Labels: Financial News
posted by Zoritza Petrova @ 10:44 PM
0 Comments:
Post a Comment
<< Home