The market review for October, 13st

Stock trades in the U.S. on October 12 raznonapravlenno closed in anticipation of a series of quarterly reports. Trading day began most of the growth of stock price, but then at the bidders’ enthusiasm diminished, and leading indices have returned close to initial positions, and the NASDAQ lost even up to the day 0.14 points (-0.01%). Meanwhile, the Dow Jones is slowly but surely approaching the figure of 10 thousand points, to which he had only just overcome a little over 100 points.

Analysts say Moscow Stock Center, which opened on Monday in the positive territory, U.S. indexes set new local maxima, but further upward movement they could not: Dow Jones has failed to rise to the level of 10000 points. No real reason for such rapid growth has led to mild profit-taking that prevailed during the trading session. Nevertheless, after the «Drawdown» indices still managed to push himself away from the daily minima and complete trades slight change on the previous day’s close. It should be noted that the worse the market shares of retailers and look of the telecommunications sector, it is better — the paper bank and automotive sectors.

In anticipation of the report bidders pay special attention to such major companies as Citigroup Inc. and Bank of America Corp., each of which has strengthened its position by 3%. Among other companies in the center of attention Intel Corp. (+1,14%), IBM (+0,9%) and Google Inc. (+1.5%). All these companies should submit their reports on the most recent quarter, ended this week, and investors are hoping for some pleasant surprises — like the one last week presented a Alcoa.

The weakening U.S. dollar and as a consequence, growth in world oil prices supported the sector of oil and gas and energy companies. Thus, in trading shares have risen in price the second-largest U.S. oil company Chevron (+1,25%), its rival ConocoPhillips (+1,14%), and the company’s largest sector, ExxonMobil (+1,24%). The growth of quotations of last helped the news that the company Kosmos Energy has sold this oil corporation its share in a large field off the coast of Ghana.

Meanwhile, unable to consolidate its position manufacturer of cosmetics and perfumes Estee Lauder. Quotes of the company up to the auction fell by 2,4%, after Goldman Sachs analysts lowered the recommendation on shares of Estee Lauder to «sell». Analysts say the bank, the company is unable to cope with the ongoing costs.

Dow Jones index rose 20.86 points (0.21%) to 9,885.80 points

S&P — at 4.7 points (0.44%) to 1,076.19 points

NASDAQ Index fell by 0.14 points (-0.01%) — up to 2,139.14 points.

Technical Perspective: The overall technical posture remains positive based on price patterns over the last month and breadth readings, but short term there are some indicators that are extended in the wake of the recent six-day/5.8% run in the S&P. A continued posture above 1071/1070 and a breach of 1077, however, would leave the door open for a run at the September intraday high of 1080. Initial resistance above is at 1084/1085. Support below the low (1071) is in the 1066/1065 zone.

Key economic data:

Federal Reserve/Treasury calendar:
-New York President Dudley speaks at 13:15ET
-Vice Chairman Kohn speaks on the economic outlook at 13:45ET

Key Note/Bond auction results:

-CSX and INTC, as well as smaller names ALTR and EXFO, are confirmed to report today after the close

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).