Market Analysis

 

Tuesday, 20 October, the stock market of the United States concluded the session by a moderate decrease in the indices on the background of negative macroeconomic statistics: the number of homes started construction in September fell to 590 thousand, although expected to increase to 610 thousand, while producer prices fell despite forecasts by 0,6%. The dollar overcame 14-month low against the euro and oil prices retreated from the annual maximum. Relatively prosperous reporting Apple, Texas Instruments and Caterpillar were not seen as sufficient reason to continue the rally.

Following the session, the indicator of blue chips Dow Jones Industrial Average fell by 50.71 points, or 0.50% to a level of 10,041.48 points, the index is a broad market Standard Poor s 500 has decreased by 6.85 points, or 0.62% to a mark 1,091.06 points and the index of high-technology Nasdaq Composite went in at minus 12.85 points, or 0.59% to 2,163.47 points mark.

After the publication of data on zhilstroya started the construction sector began to look much worse than the market. Shares of housing and construction companies Pulte Homes and Lennar lost 5% and 2.9% respectively, and retailer of household goods and repairs Home Depot went in a minus on 2,4%.

Among blue chips more than others have been selling shares of Boeing - the loss amounted to 2,9%. Aircraft manufacturers received a rating downgrade to market level to worse than the market, analysts from Morgan Stanley, who expect further delays in deliveries of the model 787 and weak demand for airliners.

Papers of the world's largest soft-drinks manufacturer Coca-Cola fell 1.3% after the company reported back for the third quarter, slightly worse than forecasts - profit rose less than 1%, while revenues declined by 4 2% and did not live up to expectations.

the world's largest defense sector, Lockheed Martin had fallen by 6,5% despite the fact that the quarterly financial results are generally met expectations. Doubts among investors caused the company forecast for 2010 turned out to be below average forecasts of experts.

Among the distinguished growth can be noted Apple, whose shares jumped 4.7% due to positive quarterly reporting. Additional stimulus for the growth of Apple's profit up 47% was the beginning of the school year.

The second-largest U.S. producer of microchips Texas Instruments left in plus on 0,6%, having pleased investors, financial results for the third quarter and forecast for the fourth.

Shares of heavy machinery giant Caterpillar added 3% on the background of a significant excess of forecasts for quarterly profit.

The commodity sector in the broad market index retreated 1.1% on the background correction in prices for oil and copper. The November futures on light crude oil prices have fallen by 52 cents to at least $ 79.09 a barrel on NYMEX. December gold added 50 cents to $ 1,058.60 an ounce on the COMEX.

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