Monday saw US markets take a downturn in early trade due to the arrest of a suspected terrorist. However, stocks picked up during the day although most technology shares fell. By close of play the Dow Jones Industrial Average had risen over 0.5%. The Nasdaq 100 fell just short of 0.5%. No economic data was released today.
Tuesday was a bad day for US markets. Despite large gains in early trade, they were offset by larger losses. The Dow Jones ended at its lowest level since November and the Nasdaq was hit with bad earnings news. By close of play the Dow Jones was down almost 1.5% and the Nasdaq by over 3%.
Wednesday saw a comeback for technology stocks after positive news was released, although the markets seemed up and down all day. Nevertheless, most markets found themselves in the black by close of play. The Dow Jones was up over 1% and the Nasdaq 100 pushed through with 2%. No economic data was released today.
Thursday saw a break in gains and the Dow Jones finished over 1% lower. The Nasdaq 100 fared worse, falling by 1.5%. Some positive trade was seen but retail sales news seemed to worry investors. May retail sales fell into negative territory by 0.9% against the 0.1% expected gain. This squashed fears of an increase in interest rates by the Federal Reserve.
Friday saw both the Dow Jones and Nasdaq 100 recover from heavy dips into the red. However, this weeks overall loss takes it to 4 weeks for the Dow Jones. More fears were raised when news of a suicide bomber outside the US Consulate in Pakistan. By close of play the Dow Jones had fallen by short of 0.5%. However, the Nasdaq 100 managed to close up by almost 0.5%. The University of Michigan's Consumer Sentiment Index figures were disappointing, falling from 96.9 in May to 90.8 in June. Good news on the industrial production front which rose by 0.2%. Although the increase was number 5 in a row, it was not as much as had been expected.