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U.S.: Consumer confidence exceeds their costs …

Jun 15th, 2009 | By admin | Category: Reviews and ideas

On Friday, June 12, the most significant news for the American stock pads was the publication of the preliminary index of consumer confidence from the University of Michigan for June, slightly increased to 69 points from 68.7 points in May, while analysts were expecting a larger increase - up to 69.5 points.

Moderate increase the confidence of buyers, reflected the recent recovery of stock market and some signs of stabilization in the financial sector, but has not impacted significantly on the increase in consumer spending Americans, who after all the turmoil endured became less to invest and acquire wealth, preferring to multiply this savings and debt relief.

attracted the attention and data on changes in the level of export and import prices in the United States in May. Export prices rose in the month calculated on a 0.6% with the expected 0.5% in April, while imports grew by 1.3%, less than the projected 1.4%, compared to 1.1% in April. The increase in import prices was due, first of all, the rapidly rising cost of oil in the past month.

themselves bidding on Friday the markets were relatively calm with little volatility, with the exception of about half a malfunction in the New York Stock Exchange, left off the game action around 240 companies. As a result, so not too brisk trade on the basis of the day reduced to 40% st backlog of trading volume, compared with an average 3-month rate.

index Dow Jones industrial average rose 28.34 points or 0.32% to 8799.26 points, increased during the week amounted to 0.4%. Index of Standard Poor s 500 rose 1.32 points or 0.14%, to close at 946.21 points, winning for the week amounted to 0.7%. Nasdaq Composite Index declined by 3.57 points or 0.19% to the value of 1858.80 points, adding in the week 0.5%.

major division in the American economy in the Top-30 green zone finished the majority of companies led by the largest value of the assets in the United States of America Bank of America, whose biggest win of 5.78% was attributable to increases in earnings forecasts in 2010-2011 g.g . At least 5 of the financial and analytical firms on Wall Street.

Among the main losers were the representatives of the commodity sector aluminum giant Alcoa Inc (-1.88%) and oil industry leader Exxon mobil (-0.36%) in connection with the fall on Friday the price of metals and energy on the background of a substantial reduction in performance Europe.

Shares

major steel producer AK Steel Holding Corp. fell by 5.7% due to lower guidance on the evaluation of analysts Goldman Sachs to buy to neutral, as more appropriate to real state of affairs in the company.

One of the leading manufacturers of integrated circuits National Semiconductor Corp. lost as a result of trades 6.1% after the head of the company Brian Halla said that the market has reached bottom and the chips are not yet showing signs of recovery.
Occupy 2 nd place in the world for the production of processors for personal computers Advanced Micro Devices dropped to 4.9%.

Designer of high-speed memory chips for computers Rambus Inc. grew by 15.2% since reaching a settlement in the protracted proceedings with the European Competition Commission, with the result that the latter has agreed to repeal the significant penalties.

At

shares fell 8.0% one of the largest U.S. insurance company Hartford Financial Services Group Inc. due to losses of 12.3 billion dollars on mortgage insurance and treatment in connection with the state for additional financial assistance of $ 3.4 billion.

price of futures on gold with delivery in June as a result of trades on the COMEX has fallen to 21.20 dollars, or 2.2% to values of 940.10 dollars per troy ounce, the lowest closing price since 20 May.

Investment attractiveness of gold fell due to increased dollar before the meeting of Finance Ministers of Group of Eight. Compared to the closing level of last Friday, the June futures price of gold fell by 2.2%.

price of oil futures on Light brands with delivery in July as a result of trades on NYMEX fell by 64 cents, or 0.9% to 72.04 dollars per barrel.

Oil dropped in price, for the first time in the last 4 trading sessions, due to the strengthening of the dollar and the confirmation of the OPEC increase oil production in May to 28.27 million barrels a day. Despite the losses suffered on Friday, as a whole for the week of July futures price for oil rose by 5.3%, extending, thereby winning a series of up to 4 weeks.


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