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Forex · News · USMarket

NEWS / USMarket

USmarket Investors’ attention is focused on a situation of energy market

11:47 03/10/2006

So, on a background of the renewed drop in oil prices shares on Wall Street opened with growth. Thus at opening General Motors shares rose after messages that GM and Delphi were ready to complete an agreement on charges reduction with trade union United Auto Workers.

 

However then the situation changed: the oil prices again grew on Thursday because of the intense situation around Iran. We shall remind that the anxiety has arisen because of a hard line of Iran concerning its nuclear program, and also problems in Nigeria.

Besides growth of oil quotations was promoted by the ripened technical correction after strong falling, which happened on a constant US stocks rise and OPEC decisions not to change a level of production.

As a result on Thursday April futures for oil WTI were up $0.45 to $60.47. And on today morning they trades in area $60.52 for barrel.

 

Pressure upon indexes amplified after Google Inc consent to pay $90 million indemnity for the erroneous publication of the forecast. We shall remind that after that Google shares fell in price on 3,1 % to $343.

 

Data on the US trade balance for January, which showed growth of deficit up to record value, did not spur optimism. We shall remind that value of the indicator was equal to -68.5 billion dollars, at the forecast -66.7 billion dollars. However the previous value has been revised from -65.7 to   -65.1 billion dollars.

Thus import made $182.88 billion in January against $176.64 billion in December, and export - $114.37 billion against $111.56 billion in December. Growth of import happened due to growth of demand for consumer goods and high oil prices.

 

Another indicator from published yesterday, also was worse than the expected level. We shall remind that jobless claims in the USA for a week on March, 4th made 303.000, at the forecast 288.000. And the previous value has been revised from 294.000 up to 295.000.

For four weeks on March, 4th the average number of new jobless claims rose up to 293.500 from 287.250 a week earlier. It was originally informed on 287.250.

The total number of jobless in the USA for February, 25th made 2,506 million in comparison with 2,477 million a week earlier. It was originally informed on 2,486 million.

 

As a result Dow-Jones index of New York stock exchange was down 33.46 points and was closed at a level 10972.28. NASDAQ index was down 17.74 points and is at a level 2249.72. S&P 500 index was down 6.24 points and is at a level 1272.23.

And US 30-years state bond yield lost 0.006 in comparison with the previous closing and makes 4.717.

 

We still recommend keeping purchases of Dows-Jones index futures, opened from a level 10690. The purposes of growth of the index also hold good.

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