Uncertainty In The Stock Market As America Goes To Vote

Uncertainty In The Stock Market As America Goes To Vote

While America was going to vote to re-elect the House and a third of the Senate, Wall Street registered a session characterized by uncertainty.

Uncertainty about the fate of the Eurozone, after the downward revision of estimates for the region carried out by Brussels experts, and the state of economic recovery in the United States, which has seen an increase in the trade deficit unexpectedly, a factor that could lead to a revision of the GDP in the third quarter, currently estimated at 3.5%. But the focus was back on the oil, down sharply following the decision of the Saudis to lower the price of crude oil to the United States to be more competitive with Washington.

As a result, the futures in December lost $1.59, 2%, to $77.19 a barrel, the lowest since October 4, 2011.

In closing, the Dow added 0.1% to 17,383.84 points, the Nasdaq is down 0.33% to 4623.64 points and the S& P500 lost 0.28% to 2012.1 points.

The decline in crude oil has also influenced the development of the sectors dragging down the energy – Exxon Mobil and Chevron have lost respectively 0.78% and 1.21% – while making the airlines prices soar: Delta +4, 21%, + 1.67% American Airlines, United Continental + 1.71%.

In fixed income, US government bonds gained ground with the benchmark ten-year yield fell to 2.342% from 2.348% on Monday. The thirty-year closed at 3.053% while the five-years stocks amounted at 1,634%.

In the currency markets, the dollar lost ground against major currencies. The euro / dollar rose to 1.2547, while the dollar / yen fell to 113.6. The pound advanced 1.6 dollars and the dollar fell to $0.9597.

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