On a background of strengthening expectations of next "pause" in FRS decisions concerning change of the basic discount rate, key stock indexes began week with the next growth.

Among corporate news information from Intel company, which announced about creation of the new microchip using a laser beam for transfer of information, attracts attention.

These technologies are considered by experts as break in creation of microchips of new generation.

Growth of key indexes is also supported by rising in price papers of Citizen Communications which declared about purchase of telecommunication company Commonwealth Telephone for $1,6 billion.

After that Commonwealth Telephone shares rose in price more than 5 % at morning tenders.

On the other hand the market is under some pressure of the report of the second-largest manufacturer of soft drinks PepsiCo Inc.

Let's remind that Pepsi Americas Inc. dipped expected profit by results of 2006 due to lower average price of production and growth of expenses for products made and distributed in the USA.

So PepsiCo Inc. forecasts annual profit in a range $$ 1,35 - $1,39 for a share. The previous forecast spoke about profit in a range $1,44 - $1,49 for a share.

According to Reuters analysts forecast profit at a level $1,44 for a share. Revision of results is connected with higher growth of sales of low profitable products and growth of sales of highly profitable products below expected. Results of activity for the third quarter will be published in the end of October.

However growth of stock indexes was limited - investors prefer to wait for tomorrow's comments of members of the administrative board of the Federal Reserve after tomorrow's meeting.

According to experts’ forecasts tomorrow FRS will again leave interest rates without changes. The main theme for investors is an opportunity of continuation of campaign on monetary policy firming. In spite of the fact that the oil prices have essentially decreased lately, consumer prices in August in the USA were up 0.2 % after growth of 0.4 % in July, and industrial production fell 0.1 %in August for the first time since March of this year.

As a result, the probability of increase of rates up to the end of a year from present 5.25 % up to 5.5 % has sharply decreased, that renders base for the further growth of key indexes. Thus if FRS Head Ben Bernanke in his comments hints on the termination of a cycle and transition to a neutral estimation of risks it can become an additional signal for realization of a new wave of long-term growth of key stock indexes.

The weakest TICS data, published yesterday, contained the further growth of indexes, in analysts’ opinion. Data showed that inflow of investments to the USA reduced.

So, net foreign purchases in the USA made +32.9 billion dollars for July, at the forecast +71.0 billion dollars, the previous value +75.1 billion dollars.

Investors are anxious net foreign purchases were more than 2 times less than record $68-milliard deficit of foreign trade of the USA for this period. Thus the net foreign purchases of state bonds of the USA made $6,59 billion in July against $27 billion a month earlier, corporate bonds - $19 billion against $39 billion.

Net purchase of shares, thus, made $10,4 billion in July against June sale, the largest for two years as a result of which the balance of operations of foreigners with the American shares made $3,97 billion.

As a result Dow-Jones index of New York stock exchange fell 5.77 points and was closed at a level 11555.00. NASDAQ index was up 0.16 point and is at a level 2235.75. S&P 500 rose 1.31 points and is at a level 1321.18.

And 30-years US Treasury notes’ yield grew 0.008 in comparison with the previous closing and makes 4.927.

Despite the next attempt of growth, key stock indexes while remain within the limits of the trading ranges. We recommend to keep waiting position.