Dow Jones Industrial Average: Bulls continue the bloody battle for the 10 000 points

Investors restore the U.S. stock market gradually

In brief: Bullish trend is becoming an integral part of trading the U.S. stock market the last two days. Dow Jones Industrial Average moves to the level above 10000 points.

Dow Jones Industrial begin trading on a positive note. After the transition Dow Jones notes in 10 000 points overall trading volumes significantly increase. The background for the growth of Dow Jones have become the good U.S. local news. On Wednesday, June 9, the main stock indicators United States of America by the middle of trades were on the “green area”. The tone of positive mood on the market posed appeared before the appointed time informal macroeconomic data for China, in particular, increased exports and the volume of issuance of new loans in April, far exceeding analysts’ expectations.

Reinforced the optimism of the speech of the Federal Reserve Ben Bernanke, who said that the Government will take all necessary measures to ensure financial stability and sustain economic growth. Statistics on oil stocks also had a positive effect on the increase and quotations oil industry. Thus, the Energy Information Administration (EIA) reported a reduction of oil reserves for the week by 1.8 million barrels, well above forecasts at 0.9 million barrels. In this case, the data of the American Institute API, published yesterday, showed a decrease in oil reserves last week to a maximum value of the last six months to 4.544 million barrels, although the expected decline of 0.9 million barrels. At mid-auction broad market index Standard & Poor’s 500 is trading with an increase of 1.25% at around 1,075.29 points, the indicator of blue chips Dow Jones Industrial Average adds 1.14% to 10,052.79 in the settlement, and the index of high-tech Nasdaq Composite traded in positive territory at 1.29% on a mark to 1,818.77 points. Reduction of weekly oil stocks helped to raise more expectations of prices, “black gold”, which in turn positively affected the dynamics of quotations oil industry. Thus, the world’s largest oil service company Schlumberger added to your asset 3,3%, while shares of ConocoPhillips were tightened to 1.8%. Steel companies have strengthened their positions after the rise in metals prices. Thus, the market capitalization of copper producer Freeport-McMoRan rose by 2,7%, and paper Alcoa became harder to 2,6%. Shares of the second-largest U.S. producer of microchips Texas Instruments added 1,9% of the value after the company sounded forecast results for the second quarter. Thus, expected earnings of 60-64 cents a share on sales of at least $ 3.45 billion Earlier, the company predicted a profit of 56-64 cents a share and revenue of at least $ 3.31 billion. The software maker for digital multimedia Sonic Solutions has added to its asset 5,6% by increasing the rating of its shares, analysts JPMorgan to “better market.” Paper Company Eclipsys, specializing in software for the health sector, “fatter” at 1,8%, after it became known that rival Allscripts has agreed to buy it for $ 1.3 billion. By 20:21 Moscow time futures for Brent crude for delivery in July went up by 2.92% to $ 74.41 per barrel. Gold prices declined by 1.41% up to $ 1,228 per troy ounce. Currency pair EUR / USD traded with an increase of 0,6%.

Igor Tringlers
2010-06-09 17:16, Economics.

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