The collapse could not break the Dow Jones Industrial bullish trend today

Dow Jones Industrial Average goes from red to green zone

In brief: Dow Jones Industrial Average continues to resist the bearish trend. Bulls substituted shoulder supported.

Dow Jones Industrial Average started trading in the red zone, but gradually moved into the green zone. Dow Jones is now increased to 30.15 (0.30%) – up to 10,173.96 points, the index S & P – on 3.05 points (-0.28%) – up to 1,073.93 points, Nasdaq index fell 13.01 points (-0.58 %) – up to 2,210.84 points. Stock trades in the U.S. on June 28 opened a decrease in leading indexes against the background of macroeconomic news.

So, before the trading session have been published data of the Ministry of trade of the country in terms of consumer income and spending in May this year According to the report, consumer incomes in May 2010. As compared to the previous month, increased by 0,4% (with analysts forecasting growth at 0,5%), and the volume of consumer spending increased by 0.2% (the forecast growth rate for 0,1%). As noted by analysts, the growth in consumer spending at 0.2% – a good sign, but still on the rise very slowly, which gives less optimistic thoughts. Investors who did not receive a positive charge on the published statistics on the U.S. economy, behave quite restrained. Negative trend emerging in the stock market today may not be reversed and the results of the summit “a big twenty” held last weekend (June 26-27) in Toronto, Canada, where politicians have agreed to reduce budget deficits to 2013. and stabilize their budgets and public debt amounts to 2016. In general, according to analysts, the agreements reached at the summit will have limited impact on the stock market.

Against this background, the banking sector in a mixed dynamics quotes: stocks Citigroup, Bank of America and Wells Fargo grew by 0,7%, 0,6% and 0,3%, while the paper JPMorgan Chase, Goldman Sachs and Morgan Stanley have fallen in price on 0,6%, 0,9% and 1% respectively. Shares operator American Express credit cards are traded in the minus (-1%). Suffice it favorably fold bidding for the American Transocean Ltd. (0.5%), the world’s largest operator of drilling rigs, which belonged to the wreck in the Gulf of Mexico platform Deepwater Horizon. Grow in value and shares of pharmaceutical company Auxilium Pharmaceuticals Inc. (0.2%), which should account for sales. Against the backdrop of lower oil prices traded in the red today, the paper’s largest oil company ExxonMobil (-0,3%), Chevron (-0,2%) and ConocoPhillips (-0,4%). As part of the Dow 30 are characterized by the strongest decrease in quotations of aluminum giant Alcoa (-1,8%), the corporation Boeing (-1,8%) and retailer of products for home improvement Home Depot (-1,3%).

Anrey Torbinski
2010-06-28 15:28, Economics.

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