On Monday the US stock indices declined. The financial shares led the falling while the market participants were concerned over the Irish debt problems. Dow Jones Industrial Average closed down by 24.97 points, or by 0.22% to 11178.58. Standard & Poor’s 500 dropped by 1.89 points, or by 0.16%, to 1197.84 points. Nasdaq Composite grew by 13.90 points, or by 0.55%, to 2532.02 points that is the highest closing level since November 11.
Bank of America and J.P. Morgan led a drop; their shares fell by 36 cents, or by 3.1%, to $11.30 and by 90 cents, or by 2.3%, to $38.51 respectively. The securities of oil giants Exxon Mobil and Chevron also declined, since the prices for crude oil dropped, but recovered some of their losses, when the oil futures closed above $81 per barrel. Exxon shares plunged by 35 cents, or by 0.5%, to $70.19, whereas Chevron lost 49 cents, or 0.6%, to $83.45. The best dynamics was shown by Hewlett-Packard that rose by 76 cents, or by 1.8%, to $43.25 ahead of the quarterly earnings report. The market collapsed early Monday after on weekends Ireland agreed to accept the aid package in amount of tens billion dollars from the European Union and the International Monetary Fund. Later the shares recouped the losses after the Irish Prime-Minister Brian Cowen said that he would call on the dissolution of the Parliament in the New Year after an important voting regarding the budget on December 7. According to investors the bailout plan will not solve the Irish debt problems.
