Dow Jones: bulls have taken long-awaited victory

Dow Jones Industrial Average sailes with the wind

In brief: Dow Jones Industrial is set to a convincing victory today. Yesterday also it became known that BP managed to temporarily cope with oil spills in the Gulf of Mexico, in connection with which the American paper companies soared by 7%.

Dow Jones Industrial Average waits for the victory day. Dow Jones Industrial halted yesterday on the mark 10,258.99 points. The index added 284.54 points (2.85%) per day. At Thursday, May 27, major indexes of U.S. stock market demonstrated positive dynamics on the background sounding Chinese government to refute the rumors on the reduction of reserves denominated in euro. Representatives of the State Monetary Control “Celestial” declared that Europe was, is and remains the main investment market for foreign exchange reserves of China.

Published yesterday, macroeconomic indicators were worse than analysts’ forecasts. Nevertheless, they failed to pull the indicators trades in “red” zone. According to the Administration of Employment and Learning Department of Labor, the number of initial applications for unemployment benefits last week fell from 471 thousand to 460 thousand, whereas the expected reduction of up to 455 thousand According to revised data, GDP in the first quarter increased by 3,0% in average forecast of an increase of 3,4%. A preliminary value of the index was 3,2%. As a result of trades barometer of blue chips, the Dow rose by 2,853% to the value of 10 258.99 points, more than a “broad” index of S & P 500 rose to 3.288% and reached 1 103.06 points. The index is fairly high-tech stocks on Nasdaq matured 3.725% up to 2 277.68 points. Against the background of more expensive metals and oil to strengthen the market capitalization was representatives of relevant sectors. Thus, the paper is the second largest in the world oil service of Halliburton moved on 4,7%, while quotations Transocean “recovered on 1,9%. Shares of American leader in production of aluminum Alcoa jumped 5.1%. Financial sector companies have also completed the trading session with a gain in connection with the weakening of European fears about the spread of financial crisis on other regions. Shares of Citigroup and Bank of America have become stronger on 4,2% and 4,6% respectively. Quotes NetApp soared by 18%. The developer of storage media reported that the adjusted earnings per share for the fourth quarter was 50 cents. In addition, the company sounded forecasts sales in the first quarter of the current fiscal year, which surpassed analysts’ expectations. Paper Monsanto lost 4.5% of the cost. The world’s largest producer of seeds lowered earnings forecast due to lower prices of the herbicide Roundup. Crude oil futures Light brands with delivery in July went up by $ 3.04 to $ 74.55 per barrel. As a result of trading on the COMEX Gold futures for delivery in June fell $ 1.5 to $ 1 211.60 per troy ounce. The dollar weakened against the euro and rose against the Japanese yen. Yield of a decade of Treasury bonds rose to 3.35%.

Ukrainian Globalist
2010-05-28 12:24, Economics.

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