Dow Jones Industrial Average overcomes the threat of collapse and is ready for a new record

Dow Jones Industrial Average to set a record high in an hour

In brief: Dow Jones Industrial Average began to climb the steep stairs up to victories. The level of support for the Dow index is rising.

The DJIA waited for his finest hour, the bulls are no longer afraid of a new collapse. Dow Jones Industrial Average was 10,343.11 points, picking up +222.58 points, or 2.20%. Meanwhile, the European stock market ends trading in the green zone. Stock market in Germany again concluded the session on the positive territory with a significant increase in the indices.

If at the beginning of trading investor sentiment was marred statement yesterday, Fed Chairman Bernanke, who said that the prospects for the U.S. economy is “extremely uncertain”, the published macroeconomic statistics, and a huge stream of reporting, were better than analysts’ expectations, flooded the market with optimism. According to preliminary data, the index of business activity in industry in Germany rose in July from 58.4 points to 61.2 points, while expected to decline to 58 points, while the index of business activity in the services’ sector rose from 54.8 points to 57, 3 points compared with the expected increase to 54.5 points. Provisional value of indicators for the eurozone as a whole also turned out better than expected, leaving no chance for a bear dynamics. Following trades a key indicator of the German DAX share market closed in plus on 2,53%, reaching about 6 142.15 points, while the index TecDAX Performance was strengthened by 1.67% to 783.7 points. The second-largest truck manufacturer Volvo has reported a net profit in the second quarter compared with a loss a year earlier, as well as about 27% by Mr. increasing revenues, which impacted on the market more expensive BMW and Daimler, have advanced during the session at 2.55 % and 3.19% respectively. Meanwhile, quotes, MAN and Volkswagen have left in plus on 4,45% and 4,32% respectively.

Igor Tringlers
2010-07-22 18:29, Economics.

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