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Forex · News · USMarket

NEWS / USMarket

USmarket Oldest Dow's exchange indicator sets up already the eleventh record for last sixteen sessions.

11:47 10/25/2006

Before today's FRS decision on a level of discount rates for the nearest one and a half month, the American stock market on Tuesday, on 24-th of October, preferred trade in a narrow range.

 

As a whole, yesterday's situation in the market can be named neutral with small decrease aside the technological sectors, which were pressed down by weak Texas Instruments quarter report on the eve.

Let's remind that after the publication of the report which showed sales below expectations, and the modest forecast for last quarter year, Texas Instruments quotations lost yesterday 4,3 % of their cost.

 

However low activity of investors did not prevent the oldest exchange indicator Dow Jones Industrial Average to set up the next historical record in the end of trading session.

Let's remind that for last sixteen trading sessions yesterday's achievement is already the eleventh.

 

Stock indexes were supported by the chemical giant DuPont, which published the quarter report yesterday, rose in price 1,2 % at the daytime tenders.

Investors were impressed by jump of profit of the manufacturer of synthetic products up to $485 million or $0,52 for a share in comparison with a loss of$82 million or $0,09 for a share a year ago.

In its progress yesterday DuPont shares overcame an annual price maximum.

 

Yesterday investors’ activity in purchases of papers of the companies of automobile sector was again observed. So, General Motors papers were up 2,9 %, having closed at a mark $36.19.

After increase of recommendations on Ford Motor Inc. papers up to a level "neutral" from Swiss investment bank UBS, the shares of a motorcar manufacturer grew yesterday at once 5,1 %, having ended trading session at a level $8.30.

Automobile sector is also supported a little by the statement of the adviser of President Charles Rove that next month President Bush plans to meet motorcar manufacturers of Detroit.

According to executive directors of the companies of motor-car manufacturers, they really asked Bush’s audience, however, not for the sake of rendering the direct help but so that the government help to find a way of decrease in costs for the companies.

 

And the leader of growth of yesterday's trade were papers of steel company Nucor Corp., jumped up at once +11,74 %. We remind that according to financial results of the third quarter the profit of the company was up 77 % to $1,68 for a share in comparison with $0,93 a year ago. And the proceeds increased 63 % up to $4,9 billion.

Thus the average price of ton of production increased 23 % in comparison with the third quarter, 2005. The volume of sold production grew 6 % up to 5,6 million tons.

Besides Nucor Corp. also declared that expects excellent results in the fourth quarter. As a result, to closing of the session shares added $6,47 up to $61,58.

 

As a result Dow-Jones index of New York stock exchange fell 5.68 points and is at a level 12111.23. NASDAQ index dipped 13.16 points and is at a level 2342.40. S&P 500 index was down 1.83 points and is at a level 1375.19.

And 30-years US Treasury notes’ yield fell 0.004 in comparison with the previous closing and makes 4.948.

 

We recommend to wait for realization of descending correction of indexes, being thus outside the market.

 

 

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