USmarket the Majority of European countries (12), the USA, Canada, Australia, New Zealand and others celebrate Christmas. Today markets are closed.
11:47 12/26/2005

Varied data of last trading day of week, and also before holiday thin market led to that key stock indexes have continued trade in narrow ranges.

Let\'s remind that durable goods orders in the USA grew on 4.4 % in November. Experts predicted increase only on 1.2 %.
And according to the refined data durable goods orders increased on 3 % in October while earlier it was informed on a gain on 3.4 %.
The main reason of such substantial growth is growth of demand for planes. Transport equipment orders rose on 15.6 % the last month after increase on 11.2 % a month earlier.
Except for the transport equipment the volume of orders decreased on 0.6 % in November while analysts forecasted increase on1 %.
In October the gain of orders made 0.6 % instead of 0.3 % as it was informed earlier.

Other important indicator - final value of University of Michigan Consumer Sentiment Index in the USA made 91.5 for December, at the forecast 88.9, and the previous value 88.7.
This index has also been much better than the expected level.

And another indicator – new home sales data in the USA made 1245000 for November, at the forecast 1305000, that became unpleasant surprise for the stock market’s participants. Thus the previous value has been revised from1424000 to 1404000.
As a result the indicator has been not only noticeably worse than the forecast, but also its previous value has been revised to reduction. Falling of volumes of new homes sales in comparison with the last month is the most significant for last 11 years.

As a result Dow-Jones index of New York stock exchange has fallen on 6.17 points and was closed at a level 10883.27. NASDAQ index has grown on 2.93 points and is at a level 2249.42. S&P 500 index has risen on 0.54 point and is at a level 1268.66.
Profitability of the US state obligations for 30 years has fallen on 0.061 in comparison with the previous closing and makes up 4.551.

Despite a proceeding trade in narrow ranges, we still wait for correction of key stock indexes.
Let\'s remind that today is a day off in Canada, the USA, the UK, New Zealand, Australia, and Switzerland that is why the financial markets in these countries will be closed.
Therefore our next analytical reviews will be published only on Wednesday.
While all our previous recommendations hold good.


© Copyright 1998-2006 OpenForex.com - forex trading, brokers, financial forecast