Dow Jones Industrial Average gave the bulls one more chance

Dow Jones Industrial Average rising long after the peak down

In brief: Dow Jones Industrial Average began to rise after favorable news from the U.S. building sector. Bulls began to gradually win the way to the green zone.

Dow Jones Industrial Average withstood the onslaught of the bears and confidently leveling general trend of the stock markets. U.S. stock trading opened on Tuesday decrease in indexes on the background of slowing growth in production in China and another failure of attempts to stop the BP oil spill in Gulf of Mexico. From the very beginning of trading the Dow Jones index fell by 0.67% to 10 068.46 points index Nasdaq – on 0,55% to 2 244.66 item, the index S & P 500 – on 0,81% to 1 080.62 points . After this fall came the bulls.

The background for the restoration of Dow Jones Industrial Average began the positive news from the construction sector of the American economy. At the time Dow Jones Industrial Average was 10,184.24 points. Growth Index was +47.61 points (0.47%). Another piece of good news gladdened oil market. Oil price at auction on Tuesday falling on the background of expectations of investors bitterness of monetary policy in China and a weak recovery in world economic growth. The cost of the July oil futures in electronic trading in New York as of 17:28 Moscow time has fallen to 0,62 dollars, or 0,8% – to 73.35 dollars per barrel. Spot price of Brent crude for delivery in July in London to 17:38 Moscow time has decreased by 0.45 dollar, or on 0,6% – to 73.29. “There was a waiting further tightening of monetary policy in China. (…) It was postponed to a strong dollar and, consequently, the loss of the oil market “, – said an analyst at Commerzbank AG Eugen Weinberg.

Pavel Migin
2010-06-01 15:04, Economics.

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