Archive for April 30th, 2010

Reluctance to Wall Street

Auto Date Friday, April 30th, 2010

In the wake of the optimism about the global financial markets, including Wall Street, dung beetles U.S. indexes are treading water in early Friday trade. As evidenced by the Dow Jones, Nasdaq and S & P 500 +0.03% respectively operating at 11,173 points, 2,510 points to -0.06% and -0.04% to 1206 points.

The number of days across the Atlantic, guarded by all investors in the financial world, was published at 14.30 Paris time. This is the first estimate of U.S. GDP for the first quarter of the year, which emerged in growth of 3.2%. It's worse than expected.

At the same time, rising labor costs in the United States accelerated in the first quarter for the first time since 2008, according to figures released Friday by the Labor Department.

On Thursday, markets were reassured by announcements from Brussels on the Greek case.This Friday, the country announced it was preparing a shock treatment for the public finances.

McAfee d?grincgole 12%.

Side companies, results in the first quarter of Chevron reported a net profit of 4.55 billion dollars, doubled in a year. The shares are timidly 0.04%, to 82.32 dollars in early trade.

Yesterday, ConocoPhillips (-0.02% to 59.09 dollars), oil group announced it had doubled its profits to 2.1 billion dolalrs, or 1.4 cents per share. Volume production is down 5.2% on a year (mainly related to the fields in the North Sea), but rising oil prices could imply a higher turnover of 2.6 times.

After-hours trade, McAfee, the editor of anti-virus software has unveiled a decline in profits to 37.6 million dolars, or 23 cents per share. The securities fell by 12.18% to 34.72 dollars.