The stock markets today: Morgan Stanley and Wells Fargo cheer for the bulls as the Dow Jones Industrial moved from defense to attack

The DJIA is between red and green zones

In brief: Dow Jones Industrial is looking for support in the banking sector, high technology does not bring anything good for the Dow Jones Industrial Average.

The DJIA is trying to overcome stiff resistance from bears. Beef shoulder support is weakening today. Dow Jones Industrial approaching the mark of 10,242.45 points, gaining +12.49 points (0.12%). Yahoo!, The owner of the second most popular in the U.S. search engine on the Internet, fell 8% after the company reported on sales for the second quarter, did not justify analysts’ forecasts, due to transfer some customers placing online advertising on a competitive sites.

Revenues for the fourth fiscal quarter hard drive Seagate Technology could not meet the expectations of $ 2.84 billion, accounting for only $ 2.66 billion, resulting in paper companies have fallen in price on 8,5%. Shares Apple, out-of-succession is not the most successful representatives of the reporting of high-tech sector, added 2.4% of the cost. Net profit for the third quarter rose 78% to $ 3.25 billion, while sales soared to a record level of $ 15.7 billion company also announced that next quarter sales could reach $ 18 billion, analysts on average expect $ 17 billion. Representatives of the banking sector, Morgan Stanley and Wells Fargo quarterly results pleased investors, and added to its asset 9,9% and 2,7% respectively. Net profit Morgan Stanley in the second quarter totaled $ 1.96 billion, or $ 1.09 per share, compared with a loss of $ 149 million, or $ 1.10 per share a year earlier. Net profit of Wells Fargo fell 3% to $ 3.06 billion, or 55 cents a share, analysts on average expected profit of 49 cents per share.

Ukrainian Globalist
2010-07-21 17:53, Economics.

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