Wall Street closes good month with a loss

dow jones 150x93 Wall Street closes good month with a lossThe US stock markets closed with a loss on Friday after a good February month.
Investors on Wall Street processed the final results of the earnings season and a downgraded rating on the growth of the US economy.

The Dow Jones Index recorded 0.5 percent in the minus at 18132.70 points at the close of trading. The S&P500 fell 0.3 percent to 2104.50 points and the Nasdaq fell 0.5 percent to 4963.53 points.
In February, the Dow and the S&P showed the strongest monthly increases since October 2011.

Economic growth
Before trading showed that economic growth in the United States was slightly less than previously reported in the last quarter of 2014. In the second estimate a growth of 2.2 percent was reported, while the progress previously was estimated at 2.6 percent. Economists predicted on average a revision to 2 percent.

Consumer confidence
The University of Michigan came up with a final figure for the US consumer confidence in February. The index which measures the confidence showed the highest level in eleven years in January but fell away in February. It is the first time in seven months that the index has fallen.

Preliminary sales contracts for existing homes
Furthermore, the US trade association of brokers said that in January the number of preliminary sales contracts for existing homes rose after a dip a month earlier.

J. C. Penney
Retailer J. C. Penney came after market close on Thursday with disappointing quarterly figures. The prospects for this year are weak. The share fell 6.8 percent. Clothing chain Gap properly acted better than expected and rose more than 3 percent.

Monster Beverage
Monster Beverage ended more than 13 percent higher. The producer of energy drinks announced cooperation with soft drinks company Coca-Cola to expand the area of distribution.

Euro and oil
The euro was worth 1.1191 dollars against 1.1210 dollars at the close of European stock exchanges. A barrel of US oil was 2.1 percent higher at $ 49.18. Brent oil was 3.2 percent higher at $ 61.99.