The Banking Sector Led The &Nbsp; The Dow Closed 0.29% Lower On Friday.

As of 4:00 pm Eastern time, Dow Jones industrial average Down 31.79 points. Decline From 0.29% to 11062.78, the Nasdaq composite index rose 33.39 points, or 1.37%, to 2468.77 points; the standard & Poor's 500 index rose 2.38 points, or 0.20%, to 1176.19 points.

　　 Bank sector led The Dow index is 0.29% lower on Friday.

The US consumer confidence index has dropped to a 3 month low, which has diluted the positive news of Bernanke's speech. Investors are worried about the economic recovery. On Friday, the US stock market went up and down, and the Dow index finally fell 31.79 points, or 0.29%, and the NASDAQ gained 1.37% by Google's earnings.

On the disk side, the financial sector took the lead and the technology sector took the lead. In terms of stocks, General Electric fell 5.01%, Bank of America fell 4.92%, JP Morgan fell 4.05%, HP rose 1.64%, CISCO -T rose 1.26%, MBIA fell 4.08%, Citigroup fell 2.71%, Wells Fargo Bank fell 4.61%, Goldman Sachs fell 0.59%, Morgan Stanley fell 1.65%, PNC Bank dropped 0.83%, Google rose, AMD fell, Seagate rose, Apple Rose, IBM fell, YAHOO rose.

The US Federal Reserve policy has clearly promoted the overall strength of European stocks. The pan European Dow Jones index closed at 265.83 points on Friday, or 0.06%.

On Friday, the Fed's easing monetary policy moved against the US dollar. Oil prices fell $1.44 Friday to $81.25 a barrel, or 1.7%, or 1.7%. Overall economic data helped push gold prices down by US $5.60 to $1372 an ounce, or 0.4%.

economic data

At 8:30 a.m. Eastern time, data released by the US Department of labor showed that the US consumer price index (CPI) increased by 0.1% in September, lower than the 0.2% that economists generally expected, to a new low since July. The index has a previous value of 0.3%.

At 8:30 a.m. Eastern time, data released by the US Department of Commerce showed that retail sales in the US rose 0.6% in September, higher than 0.4% of economists generally expected. The index has a previous value of 0.7%.

At 8:30 a.m. Eastern time, data released by the New York fed showed that in October, the New York manufacturing index was 15.7, significantly higher than the expected 7.1, and the index was 4.1 in September. {page_break}

At 9:55 a.m. Eastern time, University of Michigan and Reuters jointly released the US consumer confidence index in October with an initial value of 67.9 points, the 69 widely expected by economists. Last month, the index ended at 68.2 points.

At 2:00 p.m. Eastern time, data released by the US Treasury showed that the US fiscal deficit in 2010 was US $1 trillion and 290 billion, significantly narrowing compared with us $1 trillion and 420 billion in the same period last year, but it is still the second largest year in modern history.

Company news

GE's three quarter earnings report showed that profits fell to 18% to 2 billion 60 million U.S. dollars in the three quarter as a result of the loss of $1 billion 100 million in Japanese consumer finance business and the decline in equipment sales, operating income fell 5% to 35 billion 900 million dollars over the same period last year, less than the expected US $37 billion 500 million in Wall Street.

Yesterday, Seagate, a data storage company, said it had received the intention of TPG Capita and KKR to privatize the company, and hired Morgan Stanley and Perella Weinberg as its advisers. The two companies quoted about $7 billion 550 million.

HSBC said it would give up 5 billion pounds (about 8 billion U.S. dollars) to acquire the Nedbank of South Africa's Bank, because the company found that its due diligence survey was more complicated than expected, so it would not issue a takeover offer until the end of the two month exclusive consultation with the controlling shareholder Old Mutual.

German regulators have prevented the Rio Tinto and BHP Billiton from spending $116 billion to build an iron ore joint venture, saying that if the two venture joint ventures are set up, they will have a negative impact on other competitors.

The United States Securities and Exchange Commission (SEC) appears to have eased signs of civil fraud litigation initiated by Countrywide Financial former CEO Anji Romo mozlo (Angelo Mozilo) and other top executives. The parties will be reconciled with SEC.

Yesterday, after the US stock market, Google's earnings report far exceeded market expectations, the company's three quarter profit increased to $2 billion 170 million, an increase of 32%, revenue growth of 23% to 7 billion 290 million dollars, and the overall recovery of online advertising expenditure is the main reason for the growth of performance. Google shares closed up 11.19%.