The market review for April 15

On Wednesday, April 14, trades on the American stock market began rising prices. Optimism for the most part was based on reports of strong semiconductor manufacturer Intel Corp. and one of the largest U.S. bank JPMorgan Chase & Co. After Alcoa Inc.failed to meet expectations on the eve of Experts on the part of the proceeds, the players began to doubt the success of the new season statements, but Intel and JPMorgan managed to dispel them. Published macroeconomic statistics were also quite good:Consumer prices in March rose in line with expectations at 0.1%, and increase the volume of retail sales for March exceeded projections by 0,4 percentage points Magnitude of changes in the last figure (1.6% in March) shows growth in consumption necessary for economic recovery.The tendency of people to savings falls, indicating that expectations of improving macroeconomic environment in the medium-term future.

The head of the Federal Reserve System (FRS) Ben Bernanke urged the U.S. Congress and the administration of President Barack Obama as soon as possible to develop a convincing and detailed plan for reducing the record budget deficits of the country. In the speech before the Joint Economic Committee of Congress B.Bernanke said that the current gap between expenditures and revenues the state was “inevitable”, given the depth of the recession in the economy, but maintaining such a large budget deficits in the future jeopardize the long-term economic sustainability of the U.S..Nevertheless, the Fed chief did not deny himself the opportunity to support the market by stating that, while economic growth and will not be smooth because of the weakness of the construction industry and fiscal problems of state governments and major cities, recovery in domestic demand will be sufficient to promote moderatenym pace of economic recovery in coming quarters.

Two hours before the end of the auction report was published the Fed “Beige Book”, which provided a moderately positive assessment of the current macroeconomic situation.Eleven of the twelve Fed noted that economic recovery continues to slowly gain momentum. In particular, the growing volume of retail sales and orders for cars, spending on recreation and industrial activity.The volume of lending and the quality of loan portfolios fall, the weak and the labor market, but growth in demand for labor are already evident. Real estate prices have stopped falling in all districts except New York and Atlanta.Inflationary pressure is not increased, and therefore the Federal Reserve no reason to accelerate the process of finding options for downsizing measures to support markets and the economy. Against this backdrop, the U.S. stock market continued its growth, and the S & P confidently overcome the resistance level of 1200 points.

By the results of bidding on April 14 the Dow Jones index rose by 103.69 points (0.94%) – up to 11,123.11 points, NASDAQ rose 38.87 points (1.58%) – up to 2504.86 points, S & P added 13.35 points (1.12%) and amounted to 1,210.65 points.

Net profit of the world’s largest manufacturer of microchips Corporation Intel Corp. in the I quarter 2010. has more than tripled and reached 2.4 billion dollarsor 43 cents per share. Analysts had expected the indicator at 38 cents per share. Intel also increased earnings forecasts for 2010. and announced plans to hire about 1,000 new employees. Market participants are optimistic took a report of the corporation in which the value of its securities jumped to 3.29%.On Thursday, the financial report should provide Advanced Micro Devices Inc. (AMD) and Intel results allowed to build a vision that will publish AMD. Therefore, growth of quotations was similar – on 3,45%. Not lagging behind industry leaders and Applied Materials Inc., Increased by 4,42%.

Net profit of the bank JPMorgan Chase & Co. on the results of I quarter of 2010.increased by 1,5 times and reached 3.33 billion dollars or 0.74 dollars per share. The value index was higher than forecasts of industry experts who had expected 0.64 dollars per share. The greatest increase in profits occurred in units that specialize in asset management and investment banking services.Against this background, the cost of paper JPMorgan Chase soared to 4.05%, followed hauled Bank of America Corp. (+3,91%), Goldman Sachs Group Inc. (+3,16%), Wells Fargo & Co (+3,51%) and US Bancorp (+2,62%). More significant has risen in price only to Citigroup Inc. – At 6.71% due to post about reaching an agreement with the Skybridge Capital Llc to sell her unit Citigroup, specializes in working with hedge funds.

Effect on Trade has information that the American company Apple Inc. delayed the release of Tablet PC iPad to international markets for a month – until May – in connection with the high demand for gadgets in the U.S.. During the first week of sales in the U.S. were sold over 500 thousandsTablet PCs iPad, and demand far exceeds the most optimistic projections Apple, as well as ready-to-delivery volumes. The company’s shares went up by 1.34% and updated the historical maximum. Generally, on Wednesday increased significantly, many tech companies, and this provided polutoraprotsentny increase the NASDAQ.So, quotes Micron Technology Inc. jumped 5,02%, International Business Machines Corp. – On 1,72%, Hewlett-Packard Co – on 1,38%, SanDisk Corp. – On 4,78%. Capitalization of Dell Inc. increased during the day at 5.34%. Wholly-owned subsidiary of “Dell, Perot Systems Government Services, said that in the middle of last month, began providing a wide range of Citizenship and Immigration Services USA (US Citizenship and Immigration Services, USCIS).Obtaining such a responsible investors viewed the contract as an indicator of high competence of a subsidiary of Dell.

Overcoming the S & P 500 is psychologically important level of resistance of 1200 points was evidence that the market clearly remains “bullish” mood.On Wednesday, the Dow Jones index made a confident step towards the next resistance level is 11245 points, to which now remains little more than a cent. Apparently, before the achievement of correction to the growth does not happen. Experts Credit Suisse, though, predict that the “bear” market does not return before the beginning of 2011., And on results of the current year equity markets will add an average of not less than 10% due to already become the trend growth of profits of major corporations.

CompuCredit Corp. (CCRT:US): The marketer of credit cards to subprime borrowers said it offered to buy as much as $100 million of convertible notes and its stock for $7 a share.

Macerich Co. (MAC:US): The owner of shopping malls announced a planned sale of 18.5 million shares and said the offer will reduce full-year earnings by 20 cents a share.

Princeton Review Inc. (REVU:US): The provider of college and graduate-school test-preparation services said it plans to sell 14 million shares.

Santarus Inc. (SNTS:US): The company’s patents on the heartburn medicine Zegerid were invalidated by a U.S. court in a win for generic-drug maker Par Pharmaceutical Cos. (PRX:US)

United Parcel Service Inc. (UPS:US): The world’s largest package-delivery company posted a first-quarter profit that beat analysts’ estimates and boosted its 2010 earnings forecast on rising demand for overseas shipments.

Yum! Brands Inc. (YUM:US): The owner of Taco Bell and other restaurant chains said first-quarter profit rose 11 percent, helped by sales growth in China and at U.S. Pizza Huts after January’s $10 pizza promotion.

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nyse    Market     alcoa inc, american stock market, auction report, ben bernanke, budget deficits, chase co, economic sustainability, fed beige book, fed chief, federal reserve system, fiscal problems, intel corp, joint economic committee, joint economic committee of congress, jpmorgan chase, macroeconomic environment, macroeconomic statistics, record budget, semiconductor manufacturer, state governments

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