New York (ap)-the United States on Thursday, as the stock market sinking since March 2009 the fastest in the standard &poor's 500 index rebounded.
Bank stocks drag down market after the company reported, jpmorgan chase, the investment bank in the economic slowdown damage in the third quarter results. Technology stocks in the afternoon, part of the loss of the surge.
The dow Jones industrial average was down 40.72 points, or 0.4%, to close at 11478.13. Jpmorgan chase down 4.8%. Other bank also fell. Citigroup dropped 5.3%, Morgan Stanley 4.4%, bank of America 5.5%.
Jpmorgan chase is the first big bank earnings report. Next week, Wells Fargo company, citigroup and Morgan Stanley will report. Morgan is widely thought to be the strongest bank, the result is not good sign and other financial companies, Johnson said, lilly, portfolio manager of the LuoKeLan trust investment management group. Jp Morgan's income fell by 4%, in the investment bank of 31% slump damage. Business expenses
Afternoon in technology stocks are trimmed some market losses. Yahoo rose 1% as investors, the company may buy speculation. In the index of the science and technology shares in the s&p 500 stock index rose 1%, any industry group. The technology for the focus of the nasdaq composite index rose 15.51 points, or 0.6%, to 2620.24, charts.
"There is a installed in yahoo interest, seeped to technology stocks, said:" quincy Krosby, protect dexin market strategy.
The technology industry from the other encouraging news. A day ahead of iPhone release its latest, apple's stock rose 1.6%. Google the third quarter earnings, released after the markets closed, the surge past analysts' expectations. In the subsequent after-hours trading shares rose 5.4%.
The s&p 500 stock index fell 3.59 points, or 0.3%, to 1203.66. Financial shares lost 2.4%, in the form of the index of 10 biggest gain in the corporate.
A report, China's trade surplus for the second time in September for the second consecutive months narrow, investors also feel disappointed. This shows that the Chinese economic slowdown than previously thought, it would hurt exports to the U.S. demand
Over the past week, the stock market rises signs that Europe has started to get a deal with the financial crisis. The s&p 500 stock index rose 9.8 from October 3,, when it in the lowest level this year, to close on Wednesday. This is since March 2009, the largest 7 days, in the standard &poor's 500 index jumped.
Sharp top and bottom, is typical since August, when investors start to reaction, in Europe's debt economy would collapse of the recession in the United States will worry that has been plagued by the volatility of the market. Most analysts think, to the European debt solution, until reaching the market, to more volatility.
"Europe will certainly help more volatility. Story not to do this," said lily.
In Europe, is designed to protect the region toward strengthening the bank's financial rescue funds have more progress. Slovakia parliament approved a measure, will release a large amount of fund, the European bank and the government's comprehensive crisis before setting inches Slovakia blockade, bill on Tuesday, become 17 countries use the euro, such doing only one.
Wall Street has been afraid of months, one of Europe's economies shakier might collapse. If like Greece, Spain and Italy and other countries can't pay its debts, with the national debt of the world bank will be at risk. This may make a bank loan is in doubt, the more to each other and to the enterprise. If updating of words, it may lead to similar another international financial crisis in the end of 2008 what happened.
In the European officials seem to like their European Banks to support progress. In addition, with strong save the city, the eu plan committee leaders say they will require Banks to hold more capital, so as to protect them from losses. But, if not on how to complete these reforms will pay more and more attention to detail, the trade, the scheme will be worse.
In the enterprise news, three days after the power cut off all over the world, the customer service, and blackberry maker RIM company fell 1.7%. The company said it has fixed the problem, this leads to its European infrastructure in the sub-ledger.
Blackstone group fell 5.4%, citigroup investment research analyst fall favorite stock list of the private capital operating company, says the company will not be able to make some strong, because the economy is weak real estate investment.
Chip maker Broadcom rose 2.3% after the company, the promotion company, analysts say it is for smart phones sell more chips.




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