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30 Jan 2015
Bloody Friday in stocks to close an awful week and a negative month
FXStreet (San Francisco) - US stocks fell sharply on Friday after the US reported a weaker than expected GDP growth in Q4. The Dow and the S&P closed its worst month since January 2014. The three major averages recorded horrible week that erased the recovery made from January 16 to 27.
The United States reported that the GDP rose 2.6% in the Q4, missing the expectation of 3.0%, and down from the Q3 growth rate of 5.00%. In other fronts, Russia unexpectedly cut its interest rate from 17.00% to 15.00%; while oil prices climbed 6.84% to $47.58.
Most sectors finished Friday down for the day. Laggards were led by the Utilities sectors with a 2.14% drop in the day; followed by Consumer staples (-1.97%), and Financials (-1.77%). Only two sectors rose on Friday: Energy (+0.73%) and Materials (+0.05%).
Over the week, most sectors but Materials (that closed at break event), posted declines with the special collapse in Technology shares (-3.35%). On the month, Financials (-6.0%), Energy (-4.86%) and Industrials (-4.83%) were the losers while Telecomm shares (+2.82%) and Health Care (+1.46%) started the year with gains.
The Dow Jones added the half of the weekly losses on Friday after falling 250 points, or 1.45% to close at 17,164.95; the DJIA collapses 500 points or 2.83% on the week. The Dow closed January with a 3.65% drop, a compilation of 650.71 points to the downside after the opening in January 2.
The Nasdaq Composite fell 1.03% on Friday to close the week with 2.58% losses at 4,635.24. On the month, the Composite finished with a decline of 2.13%, losing all of the recovery performed in between January 16 and 27. The last week of January has been awful.
The S&P 500 lost the 2,000 level on Friday. The index declined 1.30% in the day to close the week with a drop of 2.77% to 1,994.99. The S&P posted more than half of the monthly losses in the last week as the index finished January 3.1% down.
The United States reported that the GDP rose 2.6% in the Q4, missing the expectation of 3.0%, and down from the Q3 growth rate of 5.00%. In other fronts, Russia unexpectedly cut its interest rate from 17.00% to 15.00%; while oil prices climbed 6.84% to $47.58.
Most sectors finished Friday down for the day. Laggards were led by the Utilities sectors with a 2.14% drop in the day; followed by Consumer staples (-1.97%), and Financials (-1.77%). Only two sectors rose on Friday: Energy (+0.73%) and Materials (+0.05%).
Over the week, most sectors but Materials (that closed at break event), posted declines with the special collapse in Technology shares (-3.35%). On the month, Financials (-6.0%), Energy (-4.86%) and Industrials (-4.83%) were the losers while Telecomm shares (+2.82%) and Health Care (+1.46%) started the year with gains.
The Dow Jones added the half of the weekly losses on Friday after falling 250 points, or 1.45% to close at 17,164.95; the DJIA collapses 500 points or 2.83% on the week. The Dow closed January with a 3.65% drop, a compilation of 650.71 points to the downside after the opening in January 2.
The Nasdaq Composite fell 1.03% on Friday to close the week with 2.58% losses at 4,635.24. On the month, the Composite finished with a decline of 2.13%, losing all of the recovery performed in between January 16 and 27. The last week of January has been awful.
The S&P 500 lost the 2,000 level on Friday. The index declined 1.30% in the day to close the week with a drop of 2.77% to 1,994.99. The S&P posted more than half of the monthly losses in the last week as the index finished January 3.1% down.