Weak economy propels a mix trend in US economy
San Francisco, CA -- (SBWIRE) -- 09/17/2012 -- Following reports of the US economy going toward a decline, the stock markets have showed mixed trends in the last month as stability continues to be the visible problem. At a time when England and China are facing an economic downturn, the US economy is also going through a hard time economically, facing severe conditions in the manufacturing and construction divisions.
On average, the Dow Jones Industrial trickled down to 54.90 points as the stock closed at 13035.94 at the end of last month. The weakest stock in The Dow Jones Industrial was the heavy equipment producer Caterpillar, which slipped down by 3 percent while the Standard and Poor’s 500 also showed a negative trend and dropped down by 1.64 points.
At the time when most stocks were showing negative trends, NASDAQ index evaded the losing drift and increased by 8.10 points. One of the main reasons NASDAQ jumped to a positive trend was because the biggest stock of the index, Apple, mounted by $9.73 as the company organized a news conference to announce the long-awaited iPhone 5.
The equity analyst for Fort Pitt Capital Group, Kim Forrest, said it’s about time we pay attention to the numbers and sharpen up the stocks, considering the fact that the investors have gone on the back foot during the last month.
“It’s time to go back to school and sharpen up on stocks and pay attention to the numbers. The numbers show that there’s a lot of weakness out there and investors have gotten lulled into complacency in the last month or so.” Forrest said, according to the Washington Post.
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