Asia Bizz: Wall Street Index Goes Down In The Month Of July Despite Increased Earnings
The Wall Street Index has fallen again after the government presented that there has been more than a considerable drop in jobs in the US, after which the investors were cautioned to witness that the country’s growth rate is very slow. The S&P 500 is still up by 9.7%, but is had closed very low from the year on the 2nd of July.
Peter Kenny, Managing director of Knights Equity Markets states that they could have had a good session of earning, and this was proved by S&P500. But then, even though there has been a step towards good earnings, the economy of the country is a strong hindrance as the growth rate is substantially very low.
Reuters reports that the US lost more than 131000 jobs in the month of July this year, which was twice as what the economists of Reuters had predicted. For the record in the S&P 500, 443 companies have had good earnings and 75% of them have achieved more than expected.
