June 16 came into force Act № 6337 “On amendments to some legislative acts (in terms of taxation), which provides for an increase in excise duty on petroleum products. Higher fiscal burden of oil traders are already embedded in retail prices, thereby shifting the problem onto the shoulders of consumers. In the short term fuel will continue to go up under the pressure of world trends.
Dow can’t go down, – as the bulls say… Alcoa makes the Dow Jones Industrial Average to rise throughout the day. The stock market situation today is mostly driven by the move of the Central Bank of China. As reported, Chinese monetary authorities have allowed some revaluation of yuan and that caused some euphoria among the traders. Later, when the facts about yuan new state policy become clarified the market euphoria was evaporated. By fact, the free-float yuan remains an distant American dream, furthermore – the announced move can devalue yuan in the long term.
The main trend of Dow Jones growth was beaten at the end of the trading session on the U.S. stock market yesterday. Dow Jones Industrial Average stood at 10,190.89 points. Level of Dow index falling up 20.18 points, or -0.20%. Never the less, in a show of caution, U.S trader pulled some risk capital off the table, sending the DJIA lower by just 20.18 points to close at 10,190.89. In futures trading today, influenced by of gasoline prices in the U.S.: