USA: the exchanges missed the real rally



Yesterday the stock market of United States finished trading session with considerable growth of main indexes, maximal for last 7 weeks. The index of economic conditions of ISM in the production sphere in October contrary to expectations increased from 51,5 points to 51,7 points; weekly data on number of primary requests for unemployment benefits showed decrease on 9 thousands to 363 thousands with average forecasts at level of 370 thousands; data of ADP showed employment expansion in October on 158 thousands whereas market average forecasts were 135 thousands; at last, the index of consumer confidence in October reached more than a 4-year maximum on a mark of 72,2 points, though a little didn’t hold on to forecasts.
Following results of session the indicator of blue chips Dow Jones Industrial Average raised on 1,04 % to level of 13232,62 points, the S&P500 increased on 1,09 % to a level 1427,59 points, and the index of high-technology industries Nasdaq Composite added 1,44 % and reached a point of 3020,06.
In the raw market December futures for oil of Light brand rose in price for 1 % to level of $87,09 for barrel. At the same time volatility is increasing in trading of futures for oil of the Brent brand. Yesterday’s statistics from Ministry for the Power Generating Industry of USA, shown essential reduction of stocks of oil in country which has supported prices of oil. As a result futures for oil of Brent brand continue to bargain around $108 for barrel. Gold with delivery in December on COMEX fell in the price for 0,2 % to level to $1715,50 for troy ounce. At the currency trading dollar got stronger against euro, the British pound and yen.
Today the long-awaited report from a labor market of USA for October will be announced. On forecasts data is expected to be quite different: unemployment rate can exceed previous indicator, but number taken out of agricultural sector can grow – that in turn can promote raised volatility of trading in the first half of session. It is necessary to note that as a whole this statistics is capable to set moods of investors. However reaction to it can appear to be short-term on the threshold of a coming election of the president of USA.
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