US blue chips slid on global growth concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA

The Dow Jones Industrial Average Index lost 0.22% to close at 13,583.65 on Monday amid escalated global growth fears after the IMF cut its world's economy growth forecast. Creating notable pressure on the US blue chips, analysts expect companies in the Dow Jones index to post weak profits in Q3. The Q3 earning season will be opened on Tuesday when Alcoa announces its quarterly results. Only three in nine sectors included in the index rose. Oil and gas and health care sectors were the top-performers. Exxon Mobil and Chevron added 0.14% and 0.10% despite weak energy prices. Meanwhile, UnitedHealth and Merck & Co climbed 0.82% and 0.13%. Basic material producers were mixed, with Alcoa climbing 0.33% and El du Pont de Nemours slumping 0.18%. Analysts expected Alcoa to report weak profits as global aluminium supply glut was exacerbated by Asian slowdown. Technology firms and telecommunications were the weakest in the stock index. Verizon Communications shed 1.02% while Hewlett-Packard fell by 1.83%

 

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