The market review for December, 1st

Stock trades in the U.S. ended on 30 November 2009. increase in the leading index, as concerns about the negative impact of credit problems in Dubai on the world economy began to weaken. Statement by the UAE Government’s intention to support its banks contributed to the growth of quotations of the financial sector companies. Restraining influence on the market has had a record of the National Federation of the U.S. retailers, according to which, sales of retail chains over the past holiday weekend proved to be less than last year’s figures for the same period.

Against this background, on the basis of trades declined quotations retail sector companies, including shares of the world’s largest retailer Wal-Mart Stores Inc. (-0.2%) And securities of a smaller rival Target Corp (-2,4%).

The opposite, to complete trades for online retailers, as analysts comScore said that the number of purchases over the Internet in a so-called “black Friday” November 28 – the first Friday after Thanksgiving, traditionally associated with the start of shopping season – reached its highest level in history. Against this background, 3,2% increase in prices for securities of Amazon.com Inc., Owns the world’s largest online store Amazon.com.

Optimistic market situation has developed for the shares of companies of the financial sector. It was possible to significantly strengthen its position in the trading floors of major U.S. banks such as JPMorgan Chase & Co (+2,8%), and Wells Fargo (+3,3%).

At 3.7% increased the value of securities of the largest U.S. steel company, US Steel Corp., While quotations AK Steel Holding rose by 2,3%, as analysts from Goldman Sachs Group Inc. recommended investors buy shares of American steel companies.

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Positive influence on the bidding had and the macroeconomic indicators. After the beginning of the trading session were published index of business activity in the U.S., calculated Managers Association of Chicago (PMI). Index increased in November this year at 1.9 points – to 56.1 points. Analysts expect the figure for the period totaled 53 points.

Dow Jones index rose by 34.92 points (0.34%) – to 10,344.84 points
NASDAQ – at 6.16 points (0.29%) – to 2,144.60 points
S&P – at 4.14 points (0.38%) – up to 1,095.63 points.

Sector :

Sector : 2009-12-01

Industry :

Industry : 2009-12-01

Technical Perspective: Despite the sizeable retreat last Friday, damage was relatively limited as the stock indices held at supports — S&P near short-term range floor, Dow at 20-day exponential, Nasdaq Comp at 50-day exponential/50% retracement of November run. The very short-term recovery mode noted in late trade Monday will maintain a favorable pattern as long as initial support for the S&P in the 1091/1090 area is not taken out during early gyrations today. Resistance above is at 1099/1100 and the 1105/1106 area. Overall the hold at support was a near-term positive, but additional aggressive price action will still be needed to suggest that it is setting up for a run at the upper end of the now three-week trade range.

Key economic data:
-November ISM Manufacturing at 10:00ET (consensus 55.0; prior 55.7)
-October Pending Home Sales m/m at 10:00ET (consensus -1.0%; prior 6.1%)
-October Construction Spending m/m at 10:00ET (consensus -0.5%; prior 0.8%)

Federal Reserve/Treasury calendar:
-Philadelphia President Plosser speaks on the economic outlook at 12:00ET

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Key Note/Bond auction results:
-None

Earnings:
-CPRT, GAME and SNDA are the only companies confirmed to report today after the close

Key industry conferences:
-Citigroup Basic Materials Conference (Day 1 of 2) — Companies presenting: ECL, EMN, APD, HUN, ALB, CE, PPG, FMC, LZ, SOA, WLK, CYT, OLN, ROC
-Credit Suisse Technology Conference (Day 1 of 3) — Companies presenting: TXN, TSS, VECO, VRSN, A, BRCD, RFMD, CTXS, ONNN, STEC, PLXS, TLAB, DRIV, GPN, PAR, STM, APKT, CYMI, MLNX, N, MOT, ACS, MFE, PLCM, ENTR, PMCS, WBSN, RAX, RVBD, ISIL, MSFT, FEIC, JBL, TKLC, SAP
-FBR Investor Conference (Day 1 of 2) — Companies presenting: AGII, MTZ, NVDA, S, TRAD, TRLG, ZION, PAET, BPFH, CBE, HT, LLNW, MFA, PXD, ALY, CR, EXPE, MAR, OSG, QCOM, RDN, SFG, ATML, HCBK, WAC, AF, AHT, DY, MIG, PNR, SYNA, ASI, CHH, FTI, PHH, PWR, UNM, UWBK, BHI, CCIX, CDR, CRBC, EIHI, HTS, PWER, AFSI, CNQR, SHO, WAL, AMSF, DX, FCS, N
-Piper Jaffray Health Care Conference (Day 1 of 2) — Companies presenting: AMPH, INFI, MDT, ZMH, EVVV, LH, SNN, THOR, VTAL, ANDS, ARAY, BSX, MRX, ACL, ATHN, DXCM, MYGN, TKM, GHDX, MYRX, QSII, SLXP, STJ, ABMD, AMMD, ISIS, CTIC, PPDI, SCLN, TOMO, VOLC, ARNA, CHDX, CYPB, WMGI, AIQ, CLDA, IART, MASI, ARRY, BLUD, PFWD, SMA, MWIV, NSPH, OMCL, OPTR, ERES, EXEL, GB, PODD, AHII, CPTS, QGEN, RDEA, ATEC, ELGX, IRIS, ATSI, IPCM, MRGE, BSTC, DRRX, HWAY, MAKO, ATRC, DEPO, EM, REGN, SSRX, CRY, NBIX, NOVA, VRAD
-Thomson Reuters Global Media Summit (Day 2 of 4) — Companies presenting: TWC, DIS, ERTS, RGC

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