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Forex · News · USMarket

NEWS / USMarket

USmarket On a background of absence of important economic data yesterday key indexes continued their growth

16:24 09/14/2006

On a background of absence of significant macroeconomic news and continuation of drop in the world oil prices, key stock indexes began trading session on September, 13th with the next growth.

Let's remind that before the next report on crude oil and mineral oil stocks in the USA in the end of the last week, the quotation of oil futures did not almost change in comparison with yesterday's closing and traded at levels close to $64 a barrel.

However then the situation has sharply changed. Oil quotations were very volatile after an issue of these data: initial drop about 80 cents then was won practically back and the market returned to levels before reports.

Let's remind as EIA of the USA informed oil stocks for a week which ended on September, 8th, 2006, fell 2.9 million barrels up to 327.7 million barrels, petroleum grew 0.1 million barrels up to 207.0 million barrels, distillates were up 4.7 million barrels to 144.6 million barrels, stove oil increased 1.4 million barrels to 60.7 million barrels.

Economists forecast that oil stocks would fall 1.9 million barrels, petroleum would not change, distillates stocks and stove oil would grow 1.7 million barrels.

According to API, oil stocks in the USA for a week on September, 2-8nd decreased 7.9 million barrels to 325.282 million barrels.

Petroleum stocks were up 4,4 million barrels to 213,233 million barrels. Stocks of distillates grew 6.0 million barrels up to 143.661 million barrels.

The basic drivers of growth again became papers of the companies of hi-tech sectors of the market, which already at morning session traded with increase.

Let's remind that after information about probability of new reduction of the staff in the company in total up to 30 % of the administrative personnel, Ford papers raised about 2 %.

And after increase of a rating of a known network of shops of clothes Gap up to a level "better than the market", its shares rose in price about 3 %.

Growth of key indexes received strong support after the publication of quarter results of Lehman Brothers. So, investment bank Lehman Brothers Holdings Inc. informed that its incomes in the third quarter grew owing to trading activity of clients.

The company’s made $916 million in comparison with $879 million in 2005. Besides excellent parameters of divisions of the market of the capital and tools with the fixed profitableness helped Lehman Brothers Holdings Inc. to increase proceeds by 8 % up to $4,18 billion from $3,85 billion a year ago.

Let's remind that analysts forecast proceeds nearby $4,01, and profit nearby $1,49 for a share. On the eve, on results of the tenders on Tuesday the price of closing made $68,02 for a share.

As a result Dow-Jones index of New York stock exchange was up 45.23 points and is at a level 11543.32. NASDAQ index grew 11.85 points and is at a level 2227.67. S&P 500 index rose 4.96 points and is at a level 1318.07.

And 30-years US Treasury notes’ yield fell 0.006 in comparison with the previous closing and makes 4.899.

We recommend to wait for descending correction of indexes, being outside the market. After realization of this correction there will be an opportunity for purchases of futures for Dow-Jones and S&P 500 indexes.

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TickerBidAsk
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AUD/USD0.85770.8581
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