Moment of truth for the Dow Jones Industrial Average comes today

Dow Jones Industrial Average is stable today

In brief: Dow Jones Industrial Average began to rise gradually against the background of moderate support from the bulls and the growth of trading volumes.

Dow Jones Industrial Average started the rally. Stock market U.S. sympathizes Dow Jones Industrial today. Bulls are making that Dow index rising by +15.64 points (0.15%) and reaches a level of 10,159.45 points. Key stock indices of the United States in the first half of the trading session demonstrating against the volatile dynamics of the decision taken by member countries G20, as well as different directions of macroeconomic statistics and the deviation of a lawsuit filed by U.S. Department of Justice against tobacco companies.

The beginning of the trading session was held on the positive territory with a slight increase in the indices, helped by the decision of the leaders of the participating countries “Big twenty” to reduce deficits by half, while retaining the necessary measures to stimulate the economy. However, the statistics on personal spending and income of Americans has made the uncertainty in the market. Personal incomes in May rose by 0.4% m / m, while most analysts expect growth to 0.5%, but the personal costs, in contrast, exceeded projections and grew up in the same period by 0,2% m / m vs expected increase by 0,1%. According to the head Marketfield Asset Management, Mr. Michael Saul, the stock market is no consensus, and a shortage of buyers that will continue, probably until the end of the quarter. Other analysts at the same time believe that the growing concerns associated primarily with the need to contemplate are any obvious evidence of the upcoming improvements in equity markets, taking into account the continuing concerns about the debt crisis in the euro area.

Repeatedly stepping out of “green” zone in “red” for 20:30 Moscow indices still managed to move forward due to increased demand for shares of the cigarette manufacturers and telephone companies. Thus, the indicator broad market Standard & Poor’s 500 is trading with an increase of 0.22% on a mark to 1,079.15 points, the light blue-chip Dow Jones Industrial Average decreased 0.27% to a level of 10,171.58 points and the Nasdaq index of hi-tech industries Composite traded in positive territory at 0.37% at around 2231.8 points. Cigarette manufacturers Philip Morris International, Altria Group, and Reynolds American to add to your asset 0,74% 3,3% and 4,15% respectively, after the Supreme Court rejected the suit by the DOJ, under which tobacco companies could be fined totaling $ 280 billion. American engineering company URS earned at auction 2.13% of market capitalization, said its unit will acquire the British company Scott Wilson Group for 161 million pounds ($ 242.5 million) in cash, which would increase the share of revenue from activities abroad. Papers national cellular operator Sprint Nextel have grown stronger, in turn, by 5% because of allegations that he began to provide connection of the fourth generation of new foreign markets. Quotes aircraft builder Boeing dropped to 1.03% – the company Dubai Aerospace Enterprise has decided to revise the order of the plane to reduce its debt. A leading U.S. aluminum producer Alcoa retreated to the middle of trading on 1,51% amid reports that the company intends to acquire Traco to expand their operations.

Ukrainian Globalist
2010-06-28 17:14, Economics.

News on: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Post a comment