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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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US market…Stock market is stable despite threats.
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12:18 08/03/2004
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US market…Stock market is stable despite threats.
On Sunday, the threat level was raised to Code Orange (the last but one on a danger scale) due to al-Qaeda militant attacks concerns. The Secretary of the U.S. Department of Homeland Security Tom Ridge said they had information that the buildings of the International Monetary Fund and the World Bank in Washington, D.C., the New York Stock Exchange and New York’s Citibank, financial corporations in New Jersey were under the threat of militant attacks. All that is happening on the background of extremely low activity on world stock exchanges, which is due to summer vaction period.
At the start of the week, Asian stock exchanges markets opened with a decline, finding themselves under the pressure of new militant threats. Stock exchange players are greatly concerned about the information that al-Qaeda can attack such buildings, as the International Monetary Fund and the World Bank in Washington, D.C., the New York Stock Exchange and New York’s Citibank, financial corporations in New Jersey.
European stock exchange market is also concerned with the last news, so that financial companies’ securities went down. Despite that, American stocks, supported by such companies, as Microsoft, IBM, Procter&Gamble, showed steady growth. As a result, almost all American stock exchange indexes entered the “green” zone by the end of the trading session.
Except for rise of stocks of some companies, stock exchange indexes were supported by ISM national factory index in the U.S. in July that rose to 62 points against 61.1 pints in June, which is as expected by analysts. If the given index goes higher than 50 points, production sphere’s business activity spreads. Index lower than 50 points indicates business activity decrease. Note that the given index has been coming out higher than 50 points for nine straight months, which is the longest period in the last 20 years.
Recommendations: keep earlier opened buying of Dow Jones indexes futures and Standard &Poor’s 500. Previous targets remain.
Recommendations: keep earlier opened buying of Dow Jones indexes futures and Standard &Poor’s 500. Previous targets remain.
The forecast was created by trans1.
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