The market review for October, 30st

Stock trades in the U.S. on October 29 2009. culminated in the leading index increased on average by 2%. The main news for investors was the message U.S. Department of Commerce (US Department of Commerce) on the quarterly GDP growth. According to preliminary data, the figure rose in the III quarter of this year by 3,5% compared with a decrease in the II quarter of this year by 0,7%. It surpassed forecasts of analysts, who expected GDP growth of 3,3%.

Among the macroeconomic news, investors drew attention to the decrease in initial claims for unemployment compensation. In the week that ended on October 24 2009. In comparison with that of the previous week the number of claims decreased by 1 thousand and reached 530 thousand, analysts expect this figure will be 525 thousand

However, in addition to macroeconomic news, thought-provoking and provided numerous corporate accounts. Thus, his report has provided the world’s largest oil and gas company ExxonMobil. According to the report, ExxonMobil’s net profit in the III quarter of 2009. decreased by 68% and amounted to 4.73 billion dollars against 14.83 billion dollars during the same period a year earlier. Thus the company’s revenue declined by 40% — to 82.26 billion dollars, while in the III quarter of 2008. the figure was 137.7 billion dollars is a negative impact on the value of the securities company at the beginning of the trading session, but by the closing of the auctions quotes went to a plus (0.2%), boosted by increased oil prices.

1,6% increase in prices the securities world’s largest manufacturer of toothpaste and other personal hygiene Colgate-Palmolive by the financial report exceeded expectations of analysts. Quarterly profit rose 18% — up to 590 million, while sales increased by 0.25% to 3.99 billion dollars

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For the same reason, been able to strengthen its position to the American manufacturer of household cleaning and hygiene products Procter & Gamble (+4%), operating profit which, according to the report, increased by 1% — to 4.45 billion dollars, exceeding market expectations.

Among companies reporting favorable reporting, it should be noted manufacturer of communications equipment, and Motorola, which has become one of the leaders of growth, as it quotes jumped 9.8%, as well as the pharmaceutical company Astrazeneca (+1,3%), manufacturer of products quick-cooking Kellog (+2,8%), gold mining companies Newmount Mining (+3,6%) and anti-virus software manufacturer Symantec Corp. (+12.8%).

Dow Jones index rose by 199.89 points (2.05%) — up to 9,962.58 points
NASDAQ — at 37.94 points (1.84%) — up to 2,097.55 points
S&P — at 23,48 points (2.25%) — to 1066.11 points.

Key earnings/guidance since yesterday’s close:
-Sony (SNE) reported a net loss of 26.3 bln yen ($287.5 mln) in its fiscal second quarter (Sept), but that was better than estimates of a 40.4 bln yen loss, while the company also returned to operating profit in its core consumer products. It also raised its fiscal year 2010 guidance, now seeing a net loss of 95 bln yen, up from a net loss of 120 bln yen. Shares of SNE are up 2% premarket.

Technical Perspective:
The S&P 500 had been down five out of the last six sessions for a roughly 5% slide, with Wednesday’s downside extension pausing near the 50% retracement of the August-October run and just under the 50-day ema, raising potential for a recovery if the data could provided a spark. Trend-day up patterns persisted throughout yesterday’s session and argue for another leg to the upside even if some sideways-to-lower trade develops over the very short term. Initial resistance is in the 1068/1069 area, with a more important near term level at 1074, the initial pullback low off the October high. Support under 1062/1061 is in the 1058/1057 zone.

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Key economic data:
-September Personal Spending (consensus -0.5%; prior 1.3%) and Personal Income (consensus 0.0%; prior 0.2%) at 8:30ET
-October Chicago PMI at 9:45ET (consensus 49.0; prior 46.1)
-Final October Michigan Sentiment around 9:55ET (consensus 70.0; Preliminary 69.4)

Federal Reserve/Treasury calendar:
-None

Key Note/Bond auction results:
-None

Earnings:
-No companies are confirmed to report today after the close

Key industry conferences:
-None

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