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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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US market …Recent fundamentals put the pressure on stock exchange markets.
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08:04 08/04/2004
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US market …Recent fundamentals put the pressure on stock exchange markets.
Major stock exchange indexes’ quotations headed southwards following the release of personal income and personal spending data in the U.S.
The U.S. Department of trade reports that personal spending reduced in June for the first time in the last nine months due to auto sales volume fall and slow down in consumer income growth. Let us remind that personal spending index came out –0.7% in June in the U.S., whereas forecasted 0.0% and the previous value equaled +1.0%. Consumer income rose 0,2% in June against the forecasted gains in 0,3%. In May, the U.S. population’s spending and income rose to 1% and 0.6% respectively.
In a whole, American stocks started declining at the beginning of yesterday session following Qwest Communications International Inc. securities that dropped 37 cents to $3.6, or 9.3% down. Among “blue chips” that are included in Standard & Poor\\\'s 500 index, exactly this company’s securities experienced the greatest losses.
Excluding some expenses, company’s losses made up 16 cents per stock, whereas analysts, surveyed by Thomson Financial, had looked for 13 cents dip per stock
Company’s profits dropped to $3.44 billion, which was also weaker that forecasted by xperts that had looked for $3,52 billion.
Recommendations: despite recently started correction of major stock exchange indexes, we think it would be better to keep saving buying of futures of Dow Jones and Standard&Poor’s 500 indexes. Here, in case downtrend correction continues and quotations decline under 10085 (for Dow Jones) and 1095 (for S&P500), immediately close that buying.
Recommendations: despite recently started correction of major stock exchange indexes, we think it would be better to keep saving buying of futures of Dow Jones and Standard&Poor’s 500 indexes. Here, in case downtrend correction continues and quotations decline under 10085 (for Dow Jones) and 1095 (for S&P500), immediately close that buying.
The forecast was created by trans1.
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