April 5 (Bloomberg) - U.S. stocks fell, dragging the Standard & Poor 500 Index down to a maximum of six weeks, after a private report showed growth in estimates of economists towed services industries.
The S & P 500 has lost 0.2% at 1,330.86 at 10: 04 p.m. in New York. The Dow Jones index fell 37.99 points, or 0.3%, to 12,362.04. The Nasdaq Composite Index declined by 0.1%.At the Institute for the management for the supply of non-manufacturing index dropped to 57.3 in March 59.7 a month earlier. The median prediction of 69 economists surveyed by Bloomberg News projected measure would be little changed to 59.5. A reading above 50 signals growth approximately 90 per cent of the economy. Estimates vary from 57.7 to 61. the S & P 500 has increased by 6% in 2011 through yesterday as Government stimulus measures, higher than the estimates and supported by corporate gains boosted investor optimism. The index fell up to 6.4% of high this year February 18 as concern grew up on the nuclear crisis of the Japan and the uprisings in the Middle East and the Africa.Early of Northern losses today came after China raised interest rates for the fourth time since the end of the world to limit financial crisis inflation and limit the risk of speculative bubbles. The one-year lending rate benchmark will to 6.31% of 6,06%, tomorrow, effective, the Bank of China said on its Web site at the end of the national holiday. One-year deposit rate stands at 3.25% 3 p. 100.La Federal Reserve will release of the minutes of its meeting of 15 March today at 2 pm. The dollar rose against most major counterparts after the Chairman of the Fed Ben Bernanke s. said inflation should boast "extremely," encourage betting that interest rates may be raised earlier than expected. Bernanke said yesterday at Stone Mountain, Georgia, that policy makers would "have to answer" If the estimates that more rapid inflation will be transient prove to be incorrect.To contact the editor responsible for this story: Michael Regan at mregan12@bloomberg.net
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