Wall Street is again expected in the red Friday. The New York Stock Exchange should not be spared by the new storm that struck the European stock exchanges and has already passed on the stock exchanges in Asia this morning. In three hours of opening, the futures contract on the Dow Jones loose 1.52% to 10,850 points, one on the Nasdaq loses 1.38% to 2053.25 points while that on the S & P 500 drops 1, 69% to 1124.30 points.
Yesterday, as elsewhere, the New York Stock Exchange closed down a massive, affected by disappointing indicators released during the meeting confirming the poor performance of the U.S. economy. Moreover, operators, already worried by the economy of the euro area, were cooled by the large loan dollars awarded by the European Central Bank (ECB) to a bank in Europe, whose identity has not been revealed.This action has reinforced doubts about the ability of banks to refinance the region. The euro also declined against the dollar and is trading around 1.4290 dollars against 1.4319 on Thursday.
Finally, Morgan Stanley confirmed the fears of a global economic slowdown by scaling back its growth forecasts for 2011 and 2012. The bank also said the United States and Europe were "dangerously close to recession."
Evidence that the operators' confidence is at its lowest, gold, a safe haven par excellence, is powered from yesterday to new heights. On Friday, an ounce reached a new record in 1864 dollars after jumping up to 1867.30 dollars in the morning.For its part, the future contract on the barrel of U.S. light crude oil, which fell 6% yesterday, lost another 2.38 dollars to 80.34 dollars while Brent gives 62 cents to 106.37 dollars.
Values of the day
On the corporate side, Hewlett-Packard, which published its results on Thursday lowered its annual forecast for the third consecutive time. It now expects an annual turnover of between 127.2 and 127.6 billion dollars, against a previous estimate of between 129 and 130 billion. The group, which has made a takeover offer for the British publisher of software Autonomy, has also announced plans to dispose of its business in personal computers.Another major surprise: HP goes out of business in the mobile, arresting the development of tablets and smartphones.
Autodesk has reported a 6% increase in revenues in the second quarter and a net profit better than expected at 71.2 million euros, or 30 cents per share.
Gap on Thursday posted a quarterly profit above analysts' expectations despite lower sales to a number of store. Net income for the group totaled $ 189 million (131.8 million), or 35 cents a share, against $ 234 million, or 36 cents per share a year earlier.
"SPECIAL – Depression, fear of debt