Dow Jones Industrial starts rapidly and fights back the bears

Dow Jones Industrial Average: 2% would not limit growth

In brief: Dow Jones Industrial Average went into a strong growth. Recent reports on the U.S. economy have become harbingers of a confident way to the green zone of the stock trading in the U.S..

Dow Jones Industrial Average did not fall throughout the trading session today. Investors look confidently into the future. Stock trades in the U.S. opened a sharp rise of the leading index, while the previous trading session had closed the Dow Jones falling below the psychological mark of 10,000 points. Toward the middle of the trading the Dow Jones index rose 208.96 points (2.09%) – up to 10,183.51 points, the index S & P – at 171.34 points (1.48%) to 11,715.24 points, the index Nasdaq – by 59.19 points (2.7%) to 2,255.07 points.

The American Stock Exchange reacted to the events on the European bid, which, in turn, develop extremely well for most players of the European market. This is due to the fact that today the People’s Bank of China (Central Bank of China) has announced that it will continue to invest in debt obligations of the euro zone, thereby denying rampant rumors on the eve of the restructuring of its foreign reserves. In a statement the Central Bank of China said that the European market was, is and will be one of the key areas of investment of the State foreign exchange control of China. The negative background for the auction, however, served as the statistics published today by the ministries. Thus, prior to bidding U.S. Department of Commerce reported on the growth of U.S. GDP in real terms in the I quarter of 2010. To clarify this, it amounted to 3% in recalculation on annual growth against 3.5% projected by analysts. In addition, the Ministry of Labour today released the country’s less life-affirming than-expected data on the number of initial claims for unemployment benefit last week. It decreased by 14 thousand and 460 thousand, while analysts had expected that this figure will be 435 thousand. News from Europe and set makrostatistiki U.S. influence on the dynamics of quotations of securities of corporations of the banking sector. At the opening session of the shares of leading U.S. banks are traded in the Green Zone. Equity Bank of America went up by 2,26%, Citigroup – by 4%, JPMorgan Chase & Co. – On 2,76, Goldman Sachs – on 2,27%. Supporting the stock market had news of the commodity market: today was recorded a significant increase in oil prices, which during the trading session, reaching levels of 73 dollars per barrel. This pushed up shares of energy companies. Securities oil companies ExxonMobil and ConocoPhillips at the opening of the trading session went up by 2.34%, shares of Chevron Corp. – On 3,05%, oilfield services company Schlumberger – by 3%. Also today, prices for metals, which prompted the quote mining companies. The value of securities mededobyvayuschey Freeport-McMoRan Copper & Gold rose by 4,7%, gold Newmont Mining – by 3%, the aluminum giant Alcoa – on 3,56%.

Pavel Migin
2010-05-27 16:11, Economics.

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