Recovery is slowing down by Magdalena Rosova

Wednesday was a hard day for New York's stock market, investors were very careful as they were waiting for the new reports with information about the pace of recovery. A key report is the one on durable goods, it will show if orders rose last month or not. The Federal Reserve will release its report soon and it will show the state of the country's economy. Fed chairman Ben Bernanke said last week that future growth was uncertain. His words led to a massive sell-off in stocks. Investors are worried, because they expected Bernanke to reassure them that rebound is here. Investors have a difficult task to balance their earnings and corporate outlooks with economic data. But the! data is not as positive as forecasts of the companies' executives. It is quite complicated to orientate in suh mixed reports. That led to down day in the market also on Tuesday. Economic data proved that the recovery is slowing down and that the growth will probably not grow much. Durable goods orders fell 0.6 percent in May but in June they rose 1 percent. The growth is believed to be caused by large new orders for Boeing aircraft. Without the transportation orders the durable goods orders rose only 0.3 percent. Other data showed that the recovery in the manufacturing sector has eased. Dow Jones industrial average, an important stock market index, fell 0.2 percent. Other indexes are falling as well. But positive is that bond prices rose a bit on Wednesday. The United States are not the only country with easing recovery. Important economy indexes in European countries dropped as well. Only Japan's Nikkei stock average jumped 2.7 percent.

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by Magdalena Rosova for Cantell TV (http://cantell.tv)

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