Wall Street discontinues rise

cisco 150x112 Wall Street discontinues riseThe New York stock markets closed with a loss Friday. Disappointing reports on wage growth in the US, falling oil prices and doubts about the approach of low inflation in the euro zone depressed the mood. Just right after elimination of the losses of the first week of 2015.

The Dow-Jones index ended 1 percent in the minus at 17737.37 points. The S&P500 fell 0.8 percent to 2044.81 points. Technology Indicator Nasdaq closed at 4704.07 points 0.7 percent below the closing level on Thursday.
New figures showed that employment in the US is still growing strong. Wages, however, went down in average last month, while a modest growth was expected.

Oil prices fell again after a few quiet days. US oil was more than 1 percent cheaper and decreased to 48.24 dollars per barrel. Oil Concern Chevron lost 1.7 percent of its market value and ended at the bottom of the Dow Jones.

Winners and losers
The banks JPMorgan Chase and Goldman Sachs are the bigger losers among the thirty main funds with losses of about 1.5 percent. The Dow winner was Cisco Systems, manufacturer of networking equipment, which won 1.5 percent.

Thursday stock markets on both sides of the Atlantic showed a firm increase by the expectation that the central banks in Europe and the US will continue to support the economy in the coming period.
Leaked proposals from the European Central Bank for new steps in the fight against the low inflation, however, made Friday a disappointing day for the markets.
Macy’s share fell nearly 3 percent. The department store chain announced that they have made significant costs to close stores and reorganizations during the last quarter.

The Euro
The euro strengthened to the level of $ 1.1840, It was noted at $ 1.1835 at the close of the European markets earlier that day.