The euphoria of New Year’s expectations and the positive news has been replaced by a complete negative. Today (08/01/2009) morning Asian trading Nikkei index fell sharply yesterday, major indexes drop within 2.71 – 3.23% had completed their work the stock exchanges U.S. against the backdrop of new data on the number of job cuts in December last year, which increased by 0.4% compared with November. By the close of trading, the Dow Jones fell by 2.71% to 8770.42 points. S & P 500 fell by 3%, reaching 906.70 points.
NASDAQ index after trades fell by 3.23% – to 1599.06 points. Oil is cheaper again, that contribute to negative U.S. economic data. At the New York Mercantile Exchange, the February contracts were concluded at a price of $ 42 per barrel. That’s almost $ 6, or 12 percent less than that of last Tuesday. Reduce the cost of hydrocarbons primarily contributed to data released on the eve of the Ministry DOE to increase commercial reserves of oil in the country.
The Congressional Budget Office in its report stated that the U.S. budget deficit will be a record for the postwar period, this year it will reach a trillion dollars. Deficit of U.S. GDP in 2009 will reach eight percent. The report says that the situation of public finances this year ‘worsen’ compared to the past when it was recorded a deficit of $ 450-T billion. Budget revenues have fallen significantly. Costs, by contrast, are growing because the U.S. government tries to support the economy afloat by reducing taxes and increasing government investment. Probably following the rise of stock indices can now wait until after the inauguration of President Obama and the commencement of his government program to create jobs. No, the year of the bull (bulls on the stock exchange play in increase) until you confirm the name.