According to the latest figures reported by the US Stock Market, share values of oil and energy producers, including giant Exxon Mobil Corp. and Schlumberger Ltd., have plunged, while those for Microsoft and Amazon are doing exceptionally well. The disappointing results of the oil and energy sector have significantly pulled industrial shares down.
The S&P 500 industrial shares have reported a 1.7% loss. While most groups have reported losses, the technology sector has shows a surge. Microsoft Corp. and Amazon.com Inc., have given out positive figures which point to rising profits.
In times where many analysts and investors have been watching the oil and energy producing sector and hoping that some sing that the economy is improving would come, the reported figures have come as a bad news.
Amidst the situation, the Dollar has somehow managed to wind back and has now strengthened its position against the Yen and most other actively traded currencies. The Dollar's value, which is now the strongest for the month, could be a result of the speculation that the Federal Reserve System might increase its interest rates sooner than what was expected.
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