Dow Jones Industrial Average and Nasdaq encouraged speculators

Dow Jones Industrial Average happily supported the S & P 500 and Nasdaq

In brief: Dow Jones Industrial Average and Nasdaq become the leaders in world stock markets for today. Index S & P 500 has decided not to miss the opportunity and prepared to chase.

Stock trades in the U.S. opened 12 May 2010. with significant increase in the two indexes – Dow Jones Industrial Average and S & P 500. From the American news is worth noting the report of the Ministry of trade of the country, according to which the trade deficit the United States in March 2010. increased compared with the revised value for February 2010. and amounted to 40.42 billion dollars.

Now Dow Jones rose by 89.1 points (0.83%) – up to 10,837.36 points, the index S & P – at 10.29 points (0.89%) to 1,166.08 points, the index of Nasdaq – 28 , 82 points (1.21%) and amounted to 2,404.13 points. The value of external trade balance exceeded the forecast of experts who had expected a negative balance of trade at 39.8 billion dollars. Against this background, able to strengthen its position leading American banks. In the first hours of trading up quotes Wells Fargo & Company and Citigroup – to 2,31% and 1,2% respectively. Also went up securities Bank of America Corp. (0.7%). At the same time quotes of Morgan Stanley fell 4% after the company started on the investigation into the cause of deceiving investors. Also at the beginning of the trading session the quotations have grown one of the world’s largest insurance company AIG (+3,1%).

This, in particular, have contributed to rumors of ongoing negotiations with the British Prudental Plc. regarding the terms of the transaction amounting to 35.5 billion dollars on the sale of AIG Asian unit of British Insurers. In the green sector traded today and securities of mining companies in the U.S. amid rising gold prices to a level above 1244 dollars / ounce. Quotations of one of the largest gold companies in the country – Newmont Mining – rose by 1.2%, while its competitor – Barrick Gold Corp. – 1,6%. Also went up securities aluminum giant Alcoa Inc. (1,07%) and mededobyvayuschey company Freeport-McMoRan Copper & Gold Inc. (2.89%). Do not lag behind the miners and energy companies. In the first hours trading quotes giant oil ExxonMobil Corp. rose by 1,3%, while its main competitors – Chevron Corp. and ConocoPhillips – on 0,67% and 0,7% respectively. Also worth noting networking vendor Cisco Systems Inc. Investors are optimistic financial report of the company, against which the quotations Cisco rose by 2.47%.

Pavel Migin
2010-05-12 15:20, Economics.

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