On Friday, 24 September, the U.S. stock market right from the opening of confidence went up. The reason for the optimism were seemingly weak macroeconomic data released by the U.S. Department of Commerce (US Department of Commerce). According to them, orders for durable goods in August 2010. decreased compared with the previous month by 1,3%, while analysts predicted a drop of only 1%. However, if you look at the value of the index with the exception of orders for vehicles (as calculated by the Ministry), it increased by as much as 2% with respect to the July figure. So down the value of the index utyanuli just collapsed sale of aircraft and vehicles.
Interrupted the rally reported that sales of new homes in the U.S. in August 2010. not changed compared with the figures for July and amounted to 288 thousand units. Experts reasonable to expect that after a number of positive sector news that came this week, and this figure will not fail and will reach 295 thousand units. But even fell short of expectations did not cause a reversal of intraday market trends. Results day is impressive: the Dow Jones and NASDAQ have upgraded four-month highs go, and S & P caught up with them at the end of the session.
Following the auction on September 24 the Dow Jones index rose 197.84 points (1.86%) - to 10,860.26 points, NASDAQ - at 54.14 points (2.33%) to 2,381.22 points, S & P - by 23.83 points (2.12%) to 1,148.66 points.
On the background of strong data on orders for durable goods increased demand was the shares of industrial conglomerates and the representatives of heavy industry. Not that investors are instantly changed the prospects of the economy, rather after a protracted consolidation simply used the occasion to open a short-term long positions on a temporary ideological securities. Shares of United Technologies Corp. rose 2,44%, Loews Corp. - On 2,03%, 3M Co. - On 1,67%, General Electric Co. - On 3,22%, Caterpillar Inc. - On 4,55%, Deere & Co. - On 2,04%, and Cummins Inc. - On 2,89%.
Leading developers of the country on Friday were able to avoid falling. Firstly, a day earlier formed a local oversold, when a drop in prices of the industry amounted to 6%, and secondly, a good report for the III quarter of 2009, 2010. financial year published a KB Home. Despite the fact that the quarter once again proved to be unprofitable, the loss amounted to only 2 cents per share, versus forecasts of market participants to 15 cents. Furthermore, sales jumped 9% - to 0,5 billion dollars, and it became the most outstanding result of the developer over the past four years. Against this background, quotes KB Home rose by 3,42%, Lennar Corp. - On 3,68%, PulteGroup Inc. - On 2,93%, Toll Brothers Inc. - On 3,23%, DR Horton Inc. - On 2,82%, Beazer Homes USA Inc. - At 5.03%. Outsider preceding session - Hovnanian Enterprises Inc. again lagged behind the sector (1.32%).
