USmarket Indexes, supported by expectations of a pause in FRS decisions, remain near top borders of a range
11:47 08/31/2006

Supported by good to data of GDP growth in the second quarter, and also substantial growth of oil stocks, the American stock market kept a positive spirit on Wednesday on 30-th of August.

 

The leaders among exchange emitters again were shares of the companies of small and average capitalization, mainly technological structure.

So, papers of  the Internet-auctioneer eBay, added at great volume on results of trading session of 4,7 % to the price, rose in price 12 % from the beginning of week.

 

The first three were also shares of nanotechnological fund Harris and Harris, added 13 %on results of trading session, and overcame at opening 50-day time average moving.

 

And papers of the manufacturer of mobile videotelephones WorldGate, having finished trading session above 200-day time average price, added 10 % on its results.

 

Oracle shares showed more modest growth. We shall remind that papers of the largest corporate programmer in the world were up 1,5 % on results of trading session.

 

Growing shares of the largest aircraft construction company Boeing, added 1,7 % after news from board of directors about the fast repayment of shares for the sum of $3 billion, also supported the market.

Growth of Boeing papers pushed upwards shares of the manufacturer of a composite skin for a fuselage of Hexcel company which grew 3,3 %on results of day.

 

As a result, key stock indexes, having been jammed in a narrow trading corridor, finished session with small increase.

In experts’ opinion the reason of such inexpressive dynamics became an impasse with the program on uranium enrichment of Iran, refused to accept the requirements of the United Nations. As a result of this oil contracts, after morning losses, demonstrated ascending movement on a background of the situation in the Near East.

However growth of oil quotations was limited as yesterday's data on oil stocks showed growth by 2,4 million barrels and made 332,8 million barrels.

Let's remind that October contract in New York commodity exchange raised 32 cents and was closed at a level $70,03 for barrel.

 

As a result Dow-Jones index of New York stock exchange was up 16.33 point and is at a level 11386.27. NASDAQ index grew 12.06 points and is at a level 2184.36. S&P 500 index rose0.57 points and is at a level 1304.85.

And 30-years US Treasury notes’ yield fell 0.015 in comparison with the previous closing and makes 4.915.

 

We recommend to adhere to our former recommendations: to open long-term purchases of futures for Dow-Jones and S&P 500 indexes from the stated levels.

 

 


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