Today’s trading session in the U.S. began with cautious increases for two of the three main index after Citigroup announced impressive profit of 4.4 billion dollars for the first three months of this year. Were encouraging and the data for the index of leading indicators of the Conference Board, which predicts the direction of the U.S. economy over the next six months. It grew for the 12th consecutive month in March and it more than expected – by 1.4 percent on a monthly basis. Its value for April amounted to 109.6 points and was the highest since the economic barometer of the Conference Board began to be calculated in 2004 This is good news because it shows that the U.S. economy, which is the largest in the world will continue to recover this year. Most improved in March, the index components that monitor the market situation of labor and financial markets. Namely the improvement of employment in non-agricultural sectors of the U.S. economy is the most reliable benchmark for the improvement of the condition. Despite the good economic data and results of Citigroup investor concerns arising from made against the investment bank Goldman Sachs allegations of fraud by mortgage securities seized indexes on Wall Street near the neutral zone.
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Raising the basic interest rate in India surprised investors and bring the strongest one-day drop in stock indexes in Asia and the Pacific region last month. Indian Central Bank is the second in the region after that in China, which has taken steps to tighten monetary policy this year. This will lead to withdrawal of liquidity from the economy and may slow its growth, and reduce investment in property and financial assets. The reason for the concerns of investors and give the warning came from International Monetary Fund that large government deficits will hinder the development of a number of large economies. The regional index MSCI Asia Pacific ex Japan fell by 1.3 percent to 415.83 points and marked its strongest one-day drop of 25 February onwards. He added 1.3 percent to its value last week after Bank of Japan increased its support for the economy. Tokyo Stock, however, is closed today for the celebration of the vernal equinox. Session on Friday brought significant increases in quotes because of depreciation of the Japanese yen and the good performance of the shares of local exporters. With the strong decline during today’s session it was marked in Hong Kong stock exchange, where the Hang Seng slid 2.1 percent to 20 934 points. Since auctions have suffered most from the construction companies and housing sector after the government in Beijing impose some restrictions on land sales.
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The three main stock indexes of Wall Street – Dow Jones, Nasdaq Composite and S & P 500, gravitated around its highest levels for the past year and a half last week and could indicate new heights if data on the housing market, employment and the factory sector in the coming days give impetus to the market. The lack of a catalyst to accelerate the movement of the indexes, making them vulnerable to sales, as became clear on Friday when the trading session on Wall Street ended a negative territory. However, all three indexes were able to raise during five of the six stock weeks forward CNN. Thus Nasdaq subdued 19-month high, a Dow Jones and S & P 500 turn circle around their highest levels for the past 18 months. Upward trend may continue for the next two weeks because investors are generally bullish set before the start of the new corporate season. U.S. indexes are on the rise in recent months and thus were able to recover from sell-offs between mid January and early February. But at the same time increase their pace in the last stage of the rally is much slower than last year, and traded volume is low. On Monday there will be no major economic news. Trading on Wall Street this week and will start from 15:30 pm local time on because of the early switch to daylight saving time in the United States. Before the start of the session on Tuesday, however, leaving sales of existing homes in February, which is expected to decrease slightly. Then we will publish the index of house prices in February, which is calculated by the Federal Housing Financing Agency in the United States (FHFA).
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The Indexes on Wall Street go down in the early session today, having risen to a new 18-month highs earlier this week. This derail investors amid a lack of important economic data today. The index of 30 largest companies traded frequently and Dow Jones IA decreases by 0.3% to 10 749.06 points an hour after the start of trading. It closed yesterday’s session at its highest level since October 1, 2008, cited by CNN. The oldest index in the United States ended with the last eight sessions increases, which is its longest winning series from August last year. Meanwhile, the broad measure of stock S & P 500 lost 0.4 percent to 1 160.75 points after this week gravitating around its highest level since late September 2008, shortly after the bankruptcy of investment bank Lehman Brothers. Nasdaq Composite, which is the main index of another U.S. Exchange – Nasdaq, is reduced the most, losing 0.6% at 2 376.15 points. Yesterday it reached its highest level in 19 months after it became clear that U.S. inflation remains low. This will allow the Fed to maintain low interest rates in the U.S., which supports the economy and good news for investors in shares. Economists say U.S. central bank may raise the discount rate before its next meeting in April. Instability of the quotations may be slightly higher than usual today because of the expiration of options and futures on stocks and indexes in the U.S..
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The U.S. indexes started the session on Wednesday with a slight increase, but the positive sentiment proved too short and not long after entering the market again in negative territory. The initial reason for the deterioration of old times was the fall in commodity prices as China’s measures to cool the economy of the country threaten their demand. In addition to these concerns the data of the U.S. government showed an unexpectedly large rise in oil stocks for the previous week by 3.7 million barrels aims at consensus on an increase of only 1,5 million barrels. The indexes, however, again failed to “rise” of positive territory thanks to Kraft Foods and Merck & Co, who came back hopes for a good season of corporate accounts. Shares of the second largest pharmaceutical company Merck & Co have proved the most profitable component of the Dow for the day, rising by 3.7 percent to 38.93 dollars after Credit Suisse raise their ratings. Individual Kraft Foods increased its forecast for profit for the year 2009 late Tuesday, suggesting that the company will present quite good results for the fourth quarter. Its shares, however, decreased by 0.2 percent to 29.23 dollars because of the news that Hershey Co will make a separate offer to British Cadbury Plc, to which Kraft also has an interest.
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The first trading session in the United States after the weekend for Thanksgiving began timidly with fluctuating movements of the indexes, which repeatedly changed its direction of movement. News about the financial difficulties of the emirate of Dubai gave way to sales data stores in the U.S. during the festive weekend. They showed that despite a higher number of visitors this year, sales of chain retailing has increased slightly over the four days of last week. The total value of purchases during the holidays is estimated at around 41.2 billion dollars, making a minimum growth of 0.5 percent on an annual basis. Against the backdrop of high unemployment in the United States the average cost of a buyer reduced to 343 dollars compared to C 373 dollars, spent Thanksgiving Day in 2008 were encouraging, however, the data showed that online shopping is gaining momentum in the U.S. by purchasing Internet increased by 11% to 595 million dollars. Data were good and the index of economic activity in the manufacturing sector in the region of Chicago, which increased unexpectedly to 56.1 points in November to 54.2 points in October. This is the highest level of regional economic barometer of August 2008, as a value above 50 points indicates growth of business activity. The volume of new manufacturing orders increased significantly, and the planned cuts by companies decreased. The index of business activity in the factory sector in the region of Chicago is an important benchmark for the overall state of the U.S. manufacturing sector, which generates about 12% of gross domestic product.
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U.S. indexes are traded in the Range near at its highest levels for the year. Retention of the upturn came after depreciated on the basis of profits that disappointed investors. Citigroup was down by 5.4 percent to 4.73 dollars. Bank from which the U.S. government owns 34%, has 101 million profit for the third quarter. For its part, Goldman Sachs fell 2.39 percent to 187.65 dollars. The Bank reported a profit for the third quarter amounted to 3.19 billion dollars, thanks to better management of personal assets. However, the bank does not meet the expectations of analysts. JPMorgan lost 0.7 percent to 46.82 dollars, while Bank of America fell by 3.3 percent to 17.98 dollars. Capital One Financial Corp. also decreased by 4.7 percent to 37.5 dollars. Positive news from the labor market in the U.S. also could not help the market to continue its strong upward trend. Applications for unemployment benefits fell to 514 thousand in the last week at 524 thousand a week earlier. Long-term unemployed also fell to below 6 million USD. Energy companies were traded in positive territory, with Chevron Corp. rose 1.4 percent to 76.5 dollars, and Exxon Mobile added 1.32 percent to 72.79 dollars after oil futures rose above $ 78 a barrel. Ministry of Energy of the United States reported an unexpected drop in gasoline stocks due to closure of refining capacity for technical review.
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The week began with decreases for most stock markets in Asia and the Pacific region, after the economist Nouri Rubini said that share prices in the United States have risen too fast. Renewed concerns about the sustainability of economic recovery decreased prices of technological companies and extractive industries. The regional index MSCI Asia Pacific, which monitors the securities markets in ten Asian countries, Australia and New Zealand, yielded a 0.8 percent to 113.6 points. This is the third consecutive day of stock reduction measure after its loss last week amounted to almost 3%. Compared with five years of his bed early March MSCI Asia Pacific increased by 61 percent. Market valuation of companies involved in it on average 22 times greater than their profit transmit Bloomberg. In comparison, the ratio P / E index of the U.S. S & P 500 is 17. The index of blue chip Nikkei 225 in Japan decreased by 0.6 percent to 9674.5 points, a wider Topix slid 0.8 percent to 867.3 points. Concerns that high unemployment in the U.S. will reduce sales of local manufacturers, pressure on share prices of exporting companies.
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