USmarket "Not a day without a record! " - the motto of Dow index...
11:47 10/26/2006

The next day of the tenders and once again the oldest exchange indicator Dow Jones Industrial Average sets up the next historical record, the twelfth for last seventeen exchange sessions.

 

Investors already get used to it and take these records for granted. However, the main motive power of the market pushing it to new heights, are positive corporate news.

 

So, the leader of growth yesterday after the publication of financial results of the third quarter became papers of main on-line seller Amazon. We remind that growth of quotations on results of session made 12 %. And, from the beginning of week growth made 15,3 %.

Thus for last two and a half months Amazon shares added almost 50 %.

 

The second in a rating of a day time growth on results of session were shares of the manufacturer of the equipment for microchips KLA-Tencor production, which after the publication of results of sales in the third quarter, which surpassed analysts’ forecasts, and lifted estimations of the forecast for last quarter of the year, added 8,4 % yesterday.

Besides the index of semi-conductor industry SOXX raised 2,6 % yesterday due to improvement of forecasts on branch as a whole.

 

Renewal of growth of oil quotations yesterday affected positively dynamics of shares of the oil companies. We remind that oil futures rose in price after the data, presented by the US Department of Energy, about stocks of oil and mineral oil in the end of the last week, showed serious reduction of the last. As a result, December future contract was up $2,05 to $61,40 a barrel.

So, Exxon Mobil papers, the largest oil company of the USA, during the tenders reached a new historical maximum and were closed near it.

For a day shares were up $1,12 (+1,60 %) to $71,01 for a share.

And Valero Energy Corp. papers rose $1,28 (+2,43 %) up to $54,00 for a share. Occidental Petroleum Corp. shares jumped up $1,31 (+2,75 %) to $48,93 for a share.

Hess Corp. shares added +3,11 %, having risen in price $1,32 up to $43,77 for a share.

 

The quarterly report of the third on volumes of the oil-and-gas company in the USA ConocoPhillips showed that the profit of the third quarter grew slightly in comparison with the third quarter, 2005 owing to chemical, pipeline and oil refining divisions.

The profit of the third quarter increased up to $3,88 billion from $3,8 billion a year ago. The profit for a share reduced to $2,31 from $2,68 last year.

The given result includes Burlington Resources incomes, bought earlier. The given purchase increased quantity of shares in circulation from 1,42 billion, in 2005 up to 1,68 billion.

Having excluded some cost items, the profit for a share made $2,68, that exceeds $2,37 the average forecast of analysts.

The proceeds decreased a little to $48,4 billion in comparison with $48,7 billion a year earlier.

On results of trading session, the shares of the company added +2,15 %, having risen in price $1,32 and were closed at a mark $62,72 a barrel.

 

As a result Dow-Jones index of New York stock exchange fell 11.45 points and is at a level 12116.43. NASDAQ index was up 4.83 points and is at a level 2349.67. S&P 500 index rose 3.00 points and is at a level 1380.38.

And 30-years US Treasury notes’ yield fell 0.045 in comparison with the previous closing and makes 4.897.

 

We recommend to wait for this star line of records, being outside the market. Only end of growth of key indexes, and realization of some correction will allow to open long-term purchases of futures for the stated indexes

 

 


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