03 December 2013: Statistics In The USA Didn't Inspire Investors On Rally Continuation
DAILY MARKET REVIEWS
By Kristina Leonova: Analyst in Portfolio Asset Management Department.
Yesterday, the American stock market finished the trading session with a moderate fall due to profit fixing. Most likely, after a few advantageous weeks, investors decided to take a break before the FED meeting in December. The good figures published on the industry didn't inspire purchases.
As it became known from the ISM report, the American industry unexpectedly grew in November, and the index of economic conditions of ISM in the production sphere jumped to 57.3 points from 56.4 points, while a decrease to 55 points was predicted. Yesterday there were also statistics published on expenses on construction for 2 months at once. In September, the indicator was reduced by 0.3%, but in October it showed a 0.8% growth at average expectations of 0.4%.
Following the results of the trading session, the indicator of "blue chips", the Dow Jones Industrial Average index, was closed with a minus of 0.48% on a level of 16008.77 points. The index of the wide market S&P 500 went down by 0.27% to the level of 1800.90, and the index of the hi-tech companies Nasdaq, receded by 0.36% to a level of 4045.26 points. The current level of 1800 points for S&P 500 seems to be attracting a high volume and number of market participants, and thus we assume that a move from this level will be prompt and rather strong.
The trading session on the Asian platforms takes place mainly in the red zone. Independently stands the Japanese Nikkei, growing due to the falling Yen. An important event for the markets has been the decision of the Reserve Bank of Australia to keep the interest rate at the level of 2.5%, at the same time other comments of the regulator were painted in rather negative colors.
Prices of Oil this morning are stable on the levels reached yesterday. Brent is flat traded on a level of 111.04$ per barrel, and WTI is adding 0.34% in value, traded on a level of 94.42$ per barrel. Precious metals fell under essential pressure at the beginning of the week. Quotations of Gold lost more than 2.5%, and Silver almost 4%. This morning, Gold and Silver are again losing in price, Gold is decreasing by 0.03% at a price of 1221.60$ per troy ounce, Silver is down by 0.17% at the level of 19.26$ per troy ounce.
Copyright: MAYZUS Investment Company Ltd