Dow Jones Industrial Average: the threat of collapse or new tests

Positive trend on the U.S. stock market will begin with Dow Jones

In brief: Bulls are praying and God of stock market listens to prayers for promotion. The level of support for futures trading for the Dow Jones Industrial Average rising.

Dow Jones Industrial Average will start the day with a record low of 10,293.52 points. Dow Jones lost -148.89 points or -1.43% yesterday. Bidding on the Dow Jones futures are now in the green zone. At the opening of stock trading in the U.S. on June 23 is expected to increase the leading index in anticipation of the meeting of the Federal Reserve System (FRS) the USA to the basic discount rate. Fed is expected to retain a key discount rate in the range of 0-0,25% per annum.

At the same time, analysts say that at a meeting of the Federal Reserve will focus on the debt problems of the euro area and their potential impact on the U.S. economy. Meanwhile, traders will be interested not only a Fed decision on the basic discount rate, but also statistics on the U.S. economy, which will be presented after the commencement of the trading session by the Ministry of Trade and the Ministry of Energy of the country. The first department to report a change in sales of new homes in the U.S. in May 2010. (Forecast of analysts – rate of 400 thousand units). Ministry of Energy will publish data on oil reserves from 12 to 18 June this year The latest report may affect the dynamics of the quotes in the energy sector with companies such as ExxonMobil, Chevron, ConocoPhillips and oil service Schlumberger and Halliburton. At the same time, investors will continue to monitor developments around the moratorium Obama for deepwater drilling. One of the first news on the macroeconomic plan can respond banking sector, including Bank of America, Citigroup, JP Morgan Chase, Wells & Fargo and operator of credit cards American Express. The world’s largest tobacco company Philip Morris raised its forecast for diluted earnings per share, which may increase the attractiveness of the company’s securities in the eyes of investors. Favored there might be bidding for one of the world leaders in computer manufacturing and computer services International Business Machines (IBM), which reported that he expects sales growth in Latin America amid rising demand for the company’s products in Chile, Colombia and Peru . Quotations of futures on the Dow Jones index rose by 47 points (0.46%), the index of Nasdaq – on 9.75 points (0.52%), the index S & P – at 4.8 points (0.44% ) today.

Ukrainian Globalist
2010-06-23 15:01, Economics.

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