The United States stock index futures declined, marking that the Standard & Poor 500 index may extend its largest sell off since February 2009, prior to the jobs report amidst the anxiety over the United States economy’s weak and slow recovery.
Exxon Mobil Corp and Chevron Corp both experienced a decline in oil for the six day in a row. Exxon went down by 0.7% to $73.34 during the early morning trading in New York. Meanwhile, Chevron was down by 0.8% to $96.06 in trading in Germany. Banks such as JPMorgan Chase & Co. and Bank of America Corp also plunged.
Futures on the Standard & Poor 500 due in September this year lost 0.2% sliding to 1,196.90 in the morning in New York. Dow Jones Industrial Average futures went down by 41 points or 0.4% to 11,330.
According to Trevor Greetham from the Fidelity International, “The move in equities relative to bonds has been really shocking. If we get a positive payrolls number, markets would rally very strongly. Lead indicators are still very negative, so I would be tempted to sell into that rally.”
Stocks in the United States went down yesterday due to the anxiety that the global economy is starting to get weak has triggered a global rout that has wiped out $4.4 trillion from equity market values in different countries all over the world since July 26. The benchmark Standard & Poor 500 went down by 7.1% this week.
Tags: Chevron Corporation, Lead indicators, market values, positive payrolls number, Bank of America
