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Forex · News · USMarket

NEWS / USMarket

USmarket After powerful falling on Monday yesterday key stock indexes made a pause.

11:47 11/30/2006

Having shown record decrease in quotations in the first trading day of week, on Tuesday, on 28-th of November, the American stock market made successful attempt of restoration.

And though, key exchange indexes managed to compensate only about third of losses of Monday, however many investors considered it as a unconditional positive and an opportunity for new purchases.

 

Let's remind that in half an hour after the beginning of the tenders macroeconomic news were published, weaker than expectations of economists. As a result, after an issue of these data forecasts of decrease in interest rates in the USA in the first quarter, 2007 grew considerably.

 

So, the index of durable orders in the USA made -8.3 % for October, at the forecast -5.0 %. And the previous value is revised from +8.3 % up to +8.7 %.

The parameter was not only considerably below expectations but also reached a minimum level for more than six years.

And durable orders less transport fell 1.7 % that testifies to delay in a manufacturing industry while orders less defense decreased 6.4 %.

The weakest results were observed regarding orders for computers and planes: orders for civil planes dipped 44.5 % against +198.2 % in September.

Orders for other categories grew slightly, thus exception made electric equipment, orders on which were up 5.1 %. Shipments rose 0.6 %, inventories - 0.8 %.

 

Another important economic indicator – consumer confidence index in the USA made 102.9 for November, at the forecast 106.0. And the previous value is revised from 105.4 up to 105.1.

Thus index of current conditions and expectations dropped 2 % and made 123.6 and 89.2 accordingly. Plans of purchases of cars and houses within the nearest 6 months reduced to 4.5 % and 3.0 %, accordingly from 6.2 % and 3.1 % in October, at the same time consumers plan to get more household electronics.

 

Yesterday's statement of FRS Head Bernanke about presence of risk of inflation growth in the USA put some pressure upon share indexes. The main reason of inflationary risks Bernanke named the high energy prices.

Let's remind that the situation in the oil market again began to vary, and oil price on the eve again overcame a key level of $60,99 a barrel. However, yesterday January oil futures on New York commodity exchange decreased $0,67, having closed at a mark $60,99 a barrel.

 

On a corporate field on a background of increasing oil the companies specializing in oil production and refining looked well. So, market capitalization of companies Exxon Mobil, Valero, Suncor and Chevron raised 2,4 %, 2,3 %, 1,7 % and 1,6 % accordingly.

 

Shares of some known highly technological companies Cisco Systems, Apple and Juniper Networks also showed growth and increased in the price 4,8 %, 2,5 % and 1,9 % accordingly.

The order for the sum of $5,7 billion, received for planes of 737-th model from Air Berlin became the reason of growth of Boeing shares, which were up 0,7 %.

 

As a result Dow-Jones index of New York stock exchange grew 14.74 points and was closed at a level 12136.45. NASDAQ index rose 6.69 points and is at a level 2412.61. S&P 500 index was up 4.82 points and is at a level 1386.72.

And 30-years US Treasury notes’ yield fell 0.022 in comparison with the previous closing and makes 4.596.

 

We recommend, still being outside the market, to wait for greater depth of correction of key indexes.

 

 

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