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Forex · News · USMarket

NEWS / USMarket

USmarket Last data support market’s optimistic mood

11:47 03/08/2006

On a background of weak Texas Instruments Inc. forecast which lifted the bottom border of the forecast of profit, but not so as experts waited shares on Wall Street opened with decrease.

 

Let's remind that a week earlier Intel Corp. warned that the quarter proceeds would be below the preliminary estimations. And on Monday of the shares fell in price on a rise of 10-years treasuries yield up to a maximum for 21 months. The US state bonds yield reached a level of 4,8%.

The last economic data, at their seeming variety, have been positively apprehended by investors.

So, labor productivity in the USA in the 4 quarter of the last year was down 0.5 % for a quarter, according to the revised data. Earlier it was informed on reduction on 0.6 %.

Let's remind that experts expected falling to make up only 0.1 %. Thus in 3 quarter 2005 increase in efficiency made 4.2 %.

And manpower costs was up 3.3 % q/q in 4 quarter whereas earlier it was informed on growth on 3.5 %.

 

Also data of the US consumer credit for January, which showed maximal level for last four months, support the market’s optimistic mood.

Let's remind that value of the indicator made +3.9 billion dollars, at the forecast +7.0 billion dollars. And the previous value is revised from +3.3 up to +3.4 billion dollars.

As a result Dow-Jones index of New York stock exchange was up 22.10 points and was closed at a level 10980.69. NASDAQ index was down 17.65 points and is at a level 2268.38. S&P 500 index was down 2.38 points and is at a level 1275.88.

And US 30-years state bond yield was down 0.001 in comparison with the previous closing and makes 4.722.

 

As a result we recommend keeping futures purchases. The positive investor’s mood remains strong enough, and the further growth of key stock indexes seems to us quite probable.

The purposes of growth of Dows-Jones index, stated in the previous comments, hold good.

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