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Forex · News · USMarket

NEWS / USMarket

USmarket Right after publication of data on US trade balance key indexes directed upwards.

18:42 09/13/2006

After the publication of data of the foreign trade deficit of the USA in July, which established new record value, having made $68 billion, that is 5 % more than June value of $64,8 billion, the key stock indexes, supported by the increased probability of "pause" at FRS next meeting concerning change of rates, directed upwards.

Let's remind that economists forecast the foreign trade gap at a rate of $65-65,5 billion. The main reason of growth of deficit became increase in import and decrease in export in July.

Deficit of the USA in trade with China, which made $19,6 billion in July, that is $2 billion more than July value of 2005, grew especially noticeably.

Another factor of support of the stock market became a proceeding falling of oil quotations. So, on today morning the barrel of oil with delivery in October costs already less than $65 in NYMEX.

For last month oil fell in price almost 20 % and analysts do not exclude continuation of this tendency.

From corporate news the true intrigue was played around Hewlett-Packard company. We shall remind that the President of the company Mark Hurd accuses chairman of board of directors Patritsia Dann of leak of the confidential intracorporate information.

Experts say that during Hurd’s work as the president of the company (1 year and 3 months), HP business went up in the world, and shares rose in price 84 %. Therefore those, who hold out in the outlined opposition share price of the company will depend on in future.

Similar situation developed in one of the largest pharmaceutical companies Bristol-Mayers Squibb. The president of the company Michael Dolan convicted of attempts of manipulations on pharmaceutical market in the USA, held this post last five years. During his presidency shares of the company fell in price almost twice and the market, for certain, will greet his leaving. We shall notice that the Federal judge insists on dismissal of the compromised top-manager.

The market is also supported by Best Buy Co. Inc. Company, which informed on Tuesday on growth of quarter profit by 22 % owing to opening of new shops and sales of expensive electronics, such as plasma TVs.

In the second quarter, which terminated on August, 26th, the profit of the company rose up to $230 million from $188 million a year earlier. Analysts expected profit in area of 44 cents for a share.

The proceeds increased up to $7,6 billion from $6,7 billion, having exceeded the average forecast of $7,54 billion. Sales in shops opened more than a year, increased 3,7 %. On Monday the price of closing of shares of a network of shops made $47,77.

Data of the quarterly report of Goldman Sachs Group Inc company, the third on size investment bank of the USA, which informed in the morning on decrease in quarter financial results due to falling of proceeds from trading operations, could not constrain the bull spirit of investors.

The profit of investment bank in the third fiscal quarter decreased to $1,59 billion from $1,62 billion a year ago. The proceeds raised to $7,46 billion from $7,29 billion. Analysts forecast profit in area of $3,19 for a share. On Monday shares were closed at a mark $151,00 for a share.

Despite yesterday's growth of key share indexes, we recommend while to be outside the market. Purchase of futures for indexes will be justified after descending correction

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TickerBidAsk
USD/CHF1.15601.1562
GBP/USD1.99541.9956
USD/JPY113.4100113.4300
EUR/USD1.43521.4354
AUD/USD0.85770.8581
USD/CAD1.00521.0056
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EUR/JPY162.7900162.8300
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