The stock market today: grand rally continues

The stock market will go in the green zone today

In brief: The new rally will be held in all markets. Stock market is ready for new highs today.

The positive trend will dominate at the Stock Market today. Trading on stock exchanges in Asia Wednesday, June 16, will likely show growth of quotations on a background in commodity prices, exchange rates, positive macroeconomic factors, and outcome of trades in the United States. Players will ignore new concerns related to the lowering of Moody’s sovereign rating of Greece.

Recall that trading in the U.S. on Tuesday ended the growth of stock indices. Among investors’ growing belief that Europe will be able to cope with problems in its economy. As a result of trading the index of “blue chips” Dow Jones Industrial Average rose 213.88 points or 2.1%, to 10405 points. The index of wide market S & P 500 closed down growth at 25.60 points or 2.35%, at around 1115 points. “High-tech” Nasdaq Composite closed higher at 61.92 points or 2.86%, at around 2306 points. The economic data from China have increased investor sentiment. Leading indicator of the Chinese economy, calculated by the Conference Board, rose sharply in April, against the background of the construction boom in China. The index rose the most significant value over the past 14 months, becoming yet another sign that the third-largest economy in the world is gaining momentum. The April increase was 1,7%. The indicator has reached the level of 147.1 points. In March, growth was only 1,2%.

The price of oil rose on Tuesday in anticipation of the report U.S. Department of Energy on oil and petroleum products in the country. The August futures for delivery of petroleum of mark WTI have grown on 1,3% to $ 76.28 per barrel. On Wednesday, the Ministry of Energy released a report U.S. inventories of black gold and oil. Analysts polled by Platts, predict decline of oil reserves to 1.75 million barrels and gasoline inventories rise and spirits at 640 thousand and 760 thousand barrels, respectively.

Gold prices rose slightly on Tuesday following a volatile session due to investor demand for safe assets. The depreciation of the dollar also supported the yellow metal. As a result of the regular trading session on the New York Mercantile Exchange, NYMEX, the August futures for gold delivery have increased by 0,8% to $ 1,234.40 per troy ounce. The July futures for delivery of silver went up by 0.9% to $ 18.57 per ounce. Palladium to be delivered in September rose by 2.8% to $ 475.55 an ounce. The July futures for the supply of copper went up by 0.4% to $ 3 per pound.

Under the combined effect of reducing sovereign credit rating of Greece and supportive data on Asian stock markets on Tuesday on the Tokyo Stock Exchange was recorded at first drop and then rise. At the close of the trading session Nikkei index remained practically at the level of the previous trading day. At the close of trading the index, reflecting the quotations of securities of 225 leading Japanese companies, amounted to 9,887.89 points, which is 8.04 points or 0.08% from the previous trading day. Topix Index rose 0.27 points, or 0.03% to 878.83 points.

At the close of trading Hang Seng index in Hong Kong Stock Exchange amounted to 20,062.15 points rose by 10.24 points or 0.05% compared with the previous trading session. Volume of transactions per day reached 41.2 billion HK dollars. Index of shares in public enterprises inland areas of China, listed on the Stock Exchange, was at the close of trading with a gain of 11,556.45 points on 35.5 points or 0.31% compared with the figure the previous trading day. Index of share prices on the Taiwan Stock Exchange at the close of trading amounted to 7454 points, an increase of 66 points from the previous trading session, the volume of transactions amounted to 79.865 billion new Taiwan dollars. At the close of today’s trading session saw an increase in stock indexes in 1724 companies and fall in 1117 companies, stock indexes 379 companies remained the same.

Igor Tringlers
2010-06-15 22:28, Economics.

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