Dow Jones Industrial Average made to grow Asian stock markets today

The euro was trading at $1.232 and at 112.6 yen during the Asian morning on Wednesday, slightly lower than late in the previous U.S. trading day.

In brief: European markets also rallied, and the euro continued its modest gains against other leading currencies — shrugging off a decision by the ratings agency Moody’s to downgrade Greece to junk bond status, news that not long ago might have sent the single currency sharply lower.

Bidding at the U.S. stock market on Tuesday, June 15, held in a positive manner. The optimism of investors supported by published data on the growth of industrial activity in the U.S. in June this year. The index of business activity was slightly less than economists had expected, but its growth has continued up to the eleventh month in a row, that can not but rejoice.

On Tuesday, also became aware of the decline in import prices in the U.S. in May to 0.6% compared to the previous month, but without taking into account the fall in oil prices index had grown by 0,5%, as well as the previous month. This situation allows to predict the stable low inflation, which adds stability to the tenders. As a result of trades on June 15 the Dow Jones index rose 213.88 points (2.1%) – up to 10,404.77 points, NASDAQ rose 61.92 points (2.76%) – up to 2,305.88 points, S & P added 25.6 points (2.35%) and amounted to 1,115.23 points.

Less successful has developed trading session for one of the largest U.S. consumer electronics retailer Best Buy Co. Inc. Quotes of the company have failed on 6,07% after Best Buy reported a profit per share in the I quarter of fiscal year 2010-2011 in the amount of $ 0.36 per share for the prognosis of experts in the U.S. $ 0.5 per share. On the rest of the industry pessimism has spread and major retailers were able to grow: Wal-Mart Stores Inc. – On 0,78%, The Kroger Co. – On 3,35%, Sears Holdings Corp. – On 3,04%, Costco Wholesale Corp. – On 2,85%, and Target Corp. – On 1,02%.

So, on this background Stock markets in the Asia-Pacific region rose on Wednesday, and the Nikkei 225 index in Japan climbed above the 10,000 mark for the first time in nearly a month, extending a rally of more than 2 percent on Wall Street overnight.

The markets in mainland China, Hong Kong and Taiwan were closed for national holidays, but elsewhere in the region, stocks rallied as investor confidence in the global economy’s recovery firmed.

The key market indexes in Australia, New Zealand and Singapore rose about 1 percent, and in South Korea the Kospi had climbed 0.6 percent by late morning.

The biggest gainer in the region was Japan, where the Nikkei 225 had risen nearly 1.6 percent, to 10,040.92, by lunchtime in Tokyo. The index earlier broke through the psychologically important 10,000-point level for the first time since May 20, – reports NY Times.

The rises followed a broad-based rally Tuesday on Wall Street, where the Dow Jones industrial average gained more than 200 points to close 2.1 percent higher.

Ukrainian Globalist
2010-06-16 04:17, Economics.

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