The market review for November, 2st

Stock trades in the United States were closed on October 30 leading indexes lower on the background of macroeconomic news. At investor sentiment negatively affected the report of the Ministry of Commerce (US Department of Commerce), published prior to bidding. According to him, the volume of consumer incomes in the country in September 2009. compared with the previous month, virtually unchanged, while the volume of consumer spending in September 2009. decreased by 0,5% compared to the previous month.

In addition, since the start of the trading session in the report of the University of Michigan / Reuters index figures were published in consumer confidence in the U.S., which fell in October to 2.9 points and amounted to 70,6 points. Analysts expected 70 points. Almost at the same time was published index of business activity in October 2009. Which grew at 8.1 points and totaled 54.2 points, said association manager in Chicago. Analysts expect the figure for the period totaled 48.5 points.

Data macroeconomics had a negative impact on share prices of financial companies. Thus, in the banking sector, quotes from a U.S. bank Bank Of America Corporation decreased by 7,31%. Another novelty, which has had an impact on the results of bidding, it was reported that the Bank Of America will have to resort to selling shares to repay the state. Also, cheaper stocks JPMorgan Chase & Co. (-5,82%) And Morgan Stanley (-4,6%).

In the energy and mining sector was also a decrease in quotations of a number of companies because of falling prices for oil and metals. Thus, on the basis of trades, shares of U.S. oil company ExxonMobil Corp. fell 3,10%, but rates of mining company Freeport-McMoRan Copper & Gold Inc. and U.S. Steel Steel Corp. decreased by 6,15% and 6,12% respectively.

In addition, investors are not enthusiastic at all about the publication of quarterly reports the second-largest oil company in the U.S. Chevron Corp. It can be seen in its performance, Chevron’s net profit in the III quarter of 2009. decreased in 2 times — up to 3.83 billion dollars compared with 7.9 billion dollars received for the same period a year earlier. Revenues Chevron on the basis of III quarter 2009. reached 46.6 billion dollars and was at 40.9% below last year, recorded at around U.S. $ 78.9 billion drop in the company’s financial indicators against the background of macroeconomic news and lower oil prices have affected the results of the tenders, and shares of Chevron fell 1,81%.

Shares of U.S. software maker McAfee companies fell 4.27%, which caused the publication of the financial report for III quarter. Forecasts of analysts did not agree with the published rates of sales companies, which were lower than investors expected, which caused the fall in share prices.

Quotes of the largest American insurance company in terms of assets MetLife Inc. also traded in the red zone. The reason for this was the quarterly report of the company, according to which net losses MetLife Inc. in the III quarter of 2009. amounted to USD 625 million compared with a profit of $ 646 million dollars for the same period of 2008. Revenues for the period decreased by 23,3% — from 13.351 billion to 10.238 billion U.S. Such figures disappointed investors and the market responded to the falling of quotations MetLife Inc. at 7,63%.

As a result of the trading session have fallen in price the first transatlantic stock exchange operator NYSE Euronext to 6.27% after the publication of the report of the company for the III quarter. It can be seen in its indices, the exchange operator’s net profit for the period decreased by 28,7% and amounted to 124 million dollars against 174 million dollars a year earlier. At the same time, the operating profit for the quarter decreased by 29.2% and amounted to 189 million dollars against 267 million a year earlier.

However, not all companies trading the falling of quotations. Shares of American operator of casinos and amusement parks company Las Vegas Sands Corp. risen as a result of the trading session at 2.24%. Investors are optimistic about the news that the financial position of the company begins to build after a significant downturn during the recession.

the Dow Jones index dropped by 249.85 points (-2.51%) — up to 9,712.73 points

NASDAQ — at 52.44 points (-2.50%) — up to 2,045.11 points

S & P — at 29.92 points (-2.81%) — up to 1,036.19 points.

Sector :

Industry :

Technical Perspective:
The aggressive pattern of the breakdown out of the mid-month trade range last week, the weekly close under the 50-day and 12-week (one quarter) moving averages and the 2009 trendline are intermediate term concerns. Potential near term positives are that the Dow, the last index to reach its 50-day averages, did hold at its 50-ema at 9680 (session low 9684) and daily indicators are oversold. For the very short term support below the low in the S&P 500 (1033) is at 1025, with the October low at 1019. Resistances are at 1042 with the 50-day ema/sma at 1047/1052.

Key economic data:
-October ISM Manufacturing at 10:00ET (consensus 53.0; prior 52.6)
-September Pending Home Sales m/m at 10:00ET (consensus 0.0%; prior 6.4%)
-September Construction Spending m/m (consensus -0.2%; prior 0.8%)

Federal Reserve/Treasury calendar:
-Governor Tarullo speaks on incentive compensation at 15:00ET

Key Note/Bond auction results:

-55 companies are confirmed to report today after the close, though none are expected to be market-moving releases

Key industry conferences:

©, briefing

Автор: Трейдер

Личный блог профессионального трейдера на фондовой бирже США (NYSE, NASDAQ, AMEX ) Дмитрия Гаврилова. Начал свою карьеру на NYSE (Нью-Йоркская фондовая биржа) в 2008 года в проп компании . С 2009 года стал старшим трейдером крупнейшего пропа в России и начал обучать трейдеров компании. С 2011 года был трейдеров компании GT Capital Group при поддержке SMB Capital (США).