Dow Jones Industrial Average makes bears to flee without looking back

Dow Jones gave the bulls a great gift

In brief: U.S. stock market spends the day in positive zone. Dow Jones Industrial Average becoming the leader of growth.

Dow Jones Industrial Average started the new marathon of growth thanks to the positive statistics and the uncertain action bears. Stock trades in the U.S. opened on June 2 after the rise of the leading indicators of sales in the previous session. At the time the Dow Jones index rose by +117.67 (1.17%) – up to 10,141.69 points, the index S & P – on 6.92 points (0.65%) to 1,077.63 points, the index of Nasdaq – by 13.22 points ( 0.59%) and amounted to 2,235.55 points. Positive effect on market participants now have a statement of central banks of Brazil, India, South Korea and Japan that financial institutions do not intend to abandon the euro in its reserves management strategies, despite European debt crisis.

Manuals CB did not see an alternative to the euro and the dollar in their portfolios, taking into account the high liquidity of these currencies and the inability to get rid of the major assets denominated in euros and dollars. Against this background, reinforcing its position leading American banks. Quotations Corporation Citigroup Inc. in the early hours of the trading session increased by 1%. In addition, rallied securities Morgan Stanley and Wells Fargo & Co. – On 1,07% and 0,71% respectively. Shares JP Morgan Chase & Co. went up by 1.04% after UBS AG analysts raised their recommendations on the shares of the bank. Amid rising prices for U.S. light crude traded in positive territory today, the securities of energy companies in the U.S.. Investors are also optimistic awaiting publication 3 June 2010. U.S. Department of Energy report on oil and oil products in the country. In the first hours of trading are growing quotations oil giant ConocoPhillips (+1,25%), as well as its rivals ExxonMobil Corp. (0.27%) and Chevron Corp. (0.25%). Schlumberger oilfield services company shares went up by 5.24%. Despite the decline in gold prices in the Green Zone traded securities of companies mining complex. Quotes aluminum giant Alcoa Inc. mededobyvayuschey and Freeport-McMoRan Copper & Gold went up in price 1,25% and 1,82% respectively. Quotations gold mining company Barrick Gold Corp. in the first hours of trading sites increased by 0,33%. Also, a positive consist bidding for the world’s largest biotechnology company Amgen Inc. (6.48%) after the U.S. Office of Federal oversight of the Food and Drug Administration U.S. Department of Health has approved the company’s drug treatment of diseases of bone tissue. It is also noteworthy influence on the trades it was reported that British insurer Prudential suggested that the American insurance group American International Group (AIG) to cancel a deal to buy AIG Asian business of life insurance – American International Assurance (AIA) – for 35.5 billion U.S. Against this backdrop, shares of AIG Expensive at 3.77%.

Anrey Torbinski
2010-06-02 17:30, Economics.

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