Dow Jones Industrial Average: retail sales and mortgage have supported bulls

Dow Jones drove the bears from the trades

In brief: The level of support for the Dow Jones Industrial Average by the bulls increased significantly. Positive trend on the U.S. stock market continues.

Dow Jones Industrial Average exceeded the growth of 1,5%. Dow Jones is 10,197.17 points. Overall growth Dow Jones Industrial up +173.15 points (1.73%). Bulls do not cease to maintain high trading volumes on the background of good statistics. Investors believe that the current growth could be the sign for a further rise in of the U.S. stock market.

According to analyst firm Redbook Research, which takes into account indicators of the order of 9.000 stores, sales at U.S. retailers from 1 to May 29 rose by 0.3% over the same period in April, sales in retail outlets for the week ending May 29 rose to annualized 2.5%. According to the monitoring of financial and analytical company Discover Financial Services index of U.S. consumer spending Discover US Spending Monitor declined in May by 1.2% to 90.4 points from 91.5 points in April. Good data came from the mortgage market. According to the Mortgage Bankers Association of the USA (MBA) the number of applications for mortgage loans increased by 0.9% for week ending May 28, a week earlier was marked by an increase of 11.3%.

Pavel Nurminen
2010-06-02 19:21, Economics.

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