The premarket shows that the DJIA will continue to rise

It is expected that the main session will open in green area

In brief: The DJIA is expected to increase at the main session despite the small decrease during the day.

Despite the fact that the futures of Dow Jones Industrial Average along with the other U.S. indexes were trading with a small decrease during the day, it is expected that the main session will open in green area. The data about the primary applications for unemployment appeared to be much better than expected and so led to the change of investor’s attitude.

Last week the number of primary applications for unemployment dropped from 472 to 454 thousand while the decrease to 460 thousand was expected. After the publication of this data the index futures moved to positive territory – the DJIA and S&P 500 futures were increasing 0.05% before the beginning of the session as the Nasdaq kept demonstrating a small decrease of 0.06% The EUR/USD pair was trading at the level of $1.2662 per euro after the release of unemployment data. The Brent oil futures increased 0.79% to $72.09 per barrel, and the WTI blend rose 0.8% to $74.66 per barrel.

Olga Bespalova
2010-07-08 13:32, Economics.

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