Dow Jones kicks off the day, but soon after, the bulls quickly turned their backs after the stocks of the banks and Netflix dragged the indices down.
Dow Jones is now down by about 110 points driven by lower United Technologies and Procter & Gamble. Only shares of Jacobs Engineering, Caterpillar and Advance Micro Devices are up 6.7%, 0.6% and 4.4% respectively, but this is due to the Chinese Positive Session. These companies benefit from Chinese economic growth, having a large exposure to Chinese markets.
Speaking of China, shares have been down since the beginning of the year, despite yesterday's growth. Shanghai Composite has erased 20% of its value for the moment since the beginning of the year. The indices are still struggling to recover from the downturns this month caused by the overwhelming fear of the Fed's policy of raising interest rates and worries about slowing global growth. And this week we expect more reports from the reporting season.
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