Wall Street turns after solid start to the minus

NEW YORK (Dow Jones) – After a short burst at the start of trading rotate the courses on Wall Street, in the course of trading on Friday to negative and therefore to the lowest levels for over 12 years. Counter clock 17:15 CET, the Dow Jones Average Index for 6572 at 0.3% or 20 points in negative territory. The S & P 500 lost 0.6% or 3 points to 679, the Nasdaq Composite 1.4% or 18 points at 1,279.

    Initially based in a framework of expectations outside the labor market report. Thus, some market participants in advance in a much worse figures, and speculation had to be their Leerverkaufspositionen close states from trading.

    The stock market before the beginning of labor market data released showed an unemployment rate of 8.1% – its highest level since 1993. Furthermore, the January data for almost 60,000 unemployed hochrevidiert been. The number of persons employed outside of agriculture fell to 651,000, which is broadly in line with expectations.

    It looks quite bleak at the table at the end of the Dow, where GM by 21% to 1,47 USD burglarize. The “WSJ” the group said a person close associates of those days, senior GM managers, more and more guys with the idea of a so-called “orderly” liquidation. Had, in December the leaders of GM against the idea of a creditor protection procedures shrunk, so has this way in the last days of likelihood obtained.

    Solid note in the Dow General Electric (GE), which increased by 4.4% to 6.95 USD growth. Dealers refer to decreasing insurance premiums for GE bonds, known as CDS spreads. Background was the announcement of the Group Finanzarms older to buy back bonds. Chevron drag by 2.8% respectively. UBS expects the oil company at its annual general meeting next Tuesday on a long-term output growth of 2% to 3% will announce.

    While Citigroup and Bank of America barely changed in the market keep slipping JP More from Morgan. Currently the stock is losing 6.3% to USD 15.55. Positive contrast, the dividend will be cut by Wells Fargo seen. The company has before the opening bell, a reduction of 85% to 0.05 USD, so as per year 5 billion USD to save money. After the shares were last spring, she climbs up to date by 6% to 8.61 USD.