Dow Registers Triple Digit Loss

Published by Filipe R. Costa on Mon, 22/10/2012 - 10:38
bear market

Daily Market Commentary for October 22: Friday was a tough day for investors as equities went sell off mode. The Dow registered a triple digit, 200-point loss. The FTSE lost just 20 points and is holding tight this morning.

It was a really awful day, especially for US markets. Weak earnings from General Electric, McDonald’s and Microsoft, just to name a few, dragged the whole market down, leading the Dow to one of its worse single day losses of the year. European markets have also been dragged down but much less. This morning markets are recovering, and the likes of FTSE and CAC are not far from their highs before the Dow dragged everything down.

Corporate earnings are worrying investors for now as companies show a decrease in their earnings but the downtrend may be limited as QE3 has its effects. Investors will most likely take the opportunity to re-enter the market again.

This week we will have the first figures for third quarter GDP, for both US and UK. All eyes will be focused on those reports to see if the US was able to accelerate and the UK to avoid a third negative quarter.

Name Last price Close Price % 5-Day % YTD %
FTSE 100 19/10/2012 5896.15 -0.35 1.77 5.81
EUR/GBP - £ per Euro 19/10/2012 0.8139 -0.02 0.96 -2.32
EUR/USD - US$ per Euro 19/10/2012 1.3024 -0.34 0.56 0.54
DAX (Xetra) 19/10/2012 7380.64 -0.76 2.05 25.13
Nikkei 225 19/10/2012 9002.75 0.22 5.49 6.48
Gold (LBM) $ 19/10/2012 173410 -0.54 -1.58 10.67
Dow Jones Industrial Average 19/10/2012 13343.5 -1.52 0.11 9.22
S&P 500 19/10/2012 1433.19 -1.66 0.32 13.96
GBP/USD - US $ per £ 19/10/2012 1.6005 -0.32 -0.41 3.06
IBEX 35 19/10/2012 7913.4 -2.31 3.41 -7.62
CAC 40 19/10/2012 3504.56 -0.87 3.41 10.91
Crude oil (Brent) Composite 19/10/2012 11175 0.59 -1.91 4.04
FTSE MIB 19/10/2012 15862.25 -2 2.26 5.12
Nasdaq 100 Index 19/10/2012 2678.32 -2.4 -1.54 17.58
Crude oil (Light Sweet) Composite 19/10/2012 9051 -1.69 -1.2 -8.58