Now it’s all up to Bernanke’s speech. Bank of America Corporation (NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM) shares rise in price today, but can dramatically collapse due to interest rates rising by the Fed.
The Dow Jones Industrial Average was unable to hold on to the green zone and gradually went decreasing. At the same time, Bank of America Corporation (NYSE: BAC) shares rose to 13.02 points, gaining +1.20%.
The exchange rate euro will not stand against the new tests are confident BNP Paribas analysts. Euro / yen can not stay in the range of 110.00/113.30, despite the threat reduction, which is based on the willingness of Fed Chairman Ben Bernanke to further weaken the monetary policy when the need arises, note currency analysts BNP Paribas.
Dow Jones Industrial receives every chance to increase after the Minister of Finance. Dow Jones Industrial concluded the week with an excellent result. The DJIA will start trading at around 10,424.62 points, gaining +102.32 (0.99%). Finance Minister Timothy Geithner said that the U.S. economy is gradually recovering.
BNP Paribas has lowered forecasts for the dollar against the euro against the background of the negative prospects for the U.S. economy made by the Fed, as well as the positive expectation of the results of stress tests of European banks.
Ben Bernanke’s biannual report has disappointed markets yesterday, but the Dow Jones Industrial Average managed to gather strength in his fist and grow to very large marks. The DJIA is at 10,326.38 points, Dow index rose 05.85 (2.03%). This growth rate was a record for Dow Jones this summer. The main ideas expressed by the head of the U.S. Federal Reserve, concluded that the uncertainty in the U.S. economy remains “unusually high”, there is no source of growth in household incomes and hence demand, which leads to a difficult situation on the labor market.
Ben was unable to prevent the growth of Dow Jones Industrial Average today. The DJIA is at 10,314.43 points, gaining +193.90 (1.92%) since the beginning of the trading session. Bristol-Myers was marked record growth today. Meanwhile, at yesterday’s hearing in the U.S. Senate Federal Reserve head Ben Bernanke clearly signaled to lawmakers that talked about the victory over the recession is premature. Describing the current economic moment, the main financier of America used the phrase unusual uncertain, which can be translated as extraordinary uncertainty.
According to UniCredit currency analysts, trading the euro / dollar today is still volatile and nervous after the speech of Ben Bernanke and weak auctions of government bonds in anticipation of the euro area long-awaited results of stress tests.
Nikkei 225 weakens. Bidding for the second largest in Asia’s stock exchange in Tokyo Thursday, July 22, the fifth consecutive day, closed the fall of quotations on the background of a strong yen and fears of investors for the performance of Ben Bernanke.
Oil prices go lower and lower today. The August futures for crude oil continue to trade on the negative territory on a background of speech Fed Chairman Ben Bernanke, as well as growth stocks in the U.S..