Weekly review of the USA market from March 30 by Broco

Discussion in 'Stocks' started by Broco, Mar 30, 2009.

  1. Broco

    Broco

    Stock market closed Friday with significant losses, unpromising economic data and tough comments from the major bank officers of the state. NASDAQ and NYSE indices decreased for 2.6 %, S&P - for 2 % and Dow - 1.9 %. Falling stocks overplayed growing stocks in approximate relation 3 against 1. The volume of two major exchanges dropped. But there was no collapse for the best market stocks, and just a few decreased significantly. After having the meeting with Obama a number of CEO managing problematic financial institutions announced moderate forecasts for the March results after two strong months. Normally day loss in the rate of 2% or 2.6% would be too much. But the market is still volatile. Friday decline is not considerable against the day chart. Friday losses could not prevent major indices to register profit within the third week in succession. The week gave Dow index 6.8 % of increase, S&P 500 +6.2 %, Nasdaq +6 % and +5.5% for NYSE index.

    The market performed in a positive manner the last week. The volume dropped when prices were falling and the volume grew when the market grew. There were no days of distribution. The market closed after reaching its maximum twice – on Monday and Thursday.

    The market gained more than 10% of increase against the session of March 16 – the first distribution day starting from March 12 when correction finished. Some concerns were caused by a too slight grow of IBD 100 index – just 4.4 % within the week – being behind expanding indices. It continued the tendency of current rally. Finally, the market rally will require leaders.

    The index of Emergency Medical Services (EMS), declined for 6 %.

    Volume of trades increased against the average value significantly but fell by the end of Friday.

    The index of Monro Muffler Brake (MNRO) dropped for 7 % in active trading. Stocks of tires shops and services ended 3 weeks growth.

    According to economic news, consumers’ revenues decreased for 0.2 % - a little worse than it was expected. Private expenses increased for 0.2 %, after 1% of January increase. ÐÑÅ (personal consumption expenditure deflator), the favorite indicator of the FR for inflation, grew for 1 % in February – more than it was expected. ÐÑÅ core increased for 1.8 % in February exceeding the forecast. Reuters/University of Michigan Consumer Sentiment Index gained 57.3 for March. In February it was 56.3. It is little better than expected but near the worst value of the last 30 years.
     
  2. Wow thanks for the insightful review, are you trying out for a job with Bloomberg?
     
  3. Broco

    Broco

    nice to receive your feedback;

    this is translated report of our analyst (Broco, Russia)