My Economic Points

U.S. Stock markets closed lower on Tuesday (15/02/2011) local time, because investors consider the varied economic data and signs of inflationary pressure. Dow Jones Industrial Average fell 41.55 points (0.34 percent) to close at 12226.64, while the Nasdaq composite index of technology stock

s fell 12.83 points (0.46 percent) to 2804.35. The S & P 500 lost 4.31 points (0.32 percent) at 1328.01.
“Report of rising prices, and economic data are relatively boring, make the stock reeling,” said Andrea Kramer at Schaeffer’s Investment Research. A U.S. Federal Reserve report showed manufacturing activity in the New York area to accelerate the course in February to its highest level since June. Import prices rose more than expected, with 1.5 percent in January, lifted by oil price hikes, the Labor Department said. The price was 5.3 percent higher than in January 2010, the sharpest rise since May
Retail sales, the main indicator of consumer spending which is the motor of two-thirds of the economy, slowed to rise 0.3 percent weaker than expected in January.
Exxon, the largest Dow component, is the blue-chip recording the steepest decline. Shares of oil companies slipped 2.28 percent to 82.97 dollars after the energy giant to adjust its reserve figures are sparking concerns about weakening oil demand.
Chevron, the oil and gas company’s second-largest U.S., slipped 0.63 percent to 96.34 dollars. The company plans to appeal the court ruling in Ecuador are ordered to pay around 8 billion dollars because it causes environmental damage in the Amazon region.
Wall Street also considers the completion of an agreement for the German Deutsche Boerse to buy the New York Stock Exchange, creating the world’s largest stock market. NYSE shares fell 3.4 percent to 38.12 dollars after the announcement by both the stock market operator before the market opens.
Package delivery company FedEx lowered its earnings outlook, citing interference winter storm in the U.S. and Europe and rising fuel prices. FedEx shares rose 2.1 percent to 95.98 dollars. Marriott International hotel chain rose 1.1 percent to 41.46 dollars after announcing will divide its businesses into two public companies.