The market review for December, 7st

Stock trading on the American stock exchange platforms 4 December 2009. closed growth against the backdrop of leading indicators unexpectedly optimistic data from the U.S. labor market. Prior to bidding U.S. Department of Labor (US Department of Labor) reported that the November non-farm sector of the country had lost only 11 thousand jobs, while analysts predicted that this figure will exceed 100 thousand U.S. unemployment rate unexpectedly fell from 10, 2% to 10%. Added a statement of optimism and U.S. Treasury Secretary Timothy Geithner that the unemployment rate in the country in the short term may be further reduced to the background of strengthening the overall state of the economy.

At the end of trading on 3,3% increase in prices shares of the largest U.S. bank Bank of America, who reported raising 19.3 billion dollars through the sale of special securities which are equivalent to common and preferred shares. At 0,3% and 0,8% respectively on the basis of trades have increased in value stocks of banks Citigroup Inc. and J. P. Morgan Chase & Co. 7.7% on the trade results have risen in price securities rating agency Moody’s Corp. against increasing analysts from Bank of America recommendations on them to “buy”.

Meanwhile, 12% of trades grew up quotes of the largest in U.S. online recruitment agency Monster Worldwide Inc. Shares aircraft construction concern, Boeing and multi-industrial conglomerate General Electric on the basis of trades went up by 1,7% and 1,3% respectively. Shares in computer processors from Intel and networking equipment manufacturer Cisco Systems went up by 3% and 1,4% respectively.

In connection with the fall in gold prices is not as successful bidding ended for mining companies. In particular, at 4.7% in trading shares have fallen in price one of the largest in the world mededobyvayuschih company Freeport-McMoRan Copper & Gold Inc., Securities and gold miner Newmont Mining on the basis of trades fell 4.5%.

Dow Jones index rose 22.75 points (0.22%) – up to 10,388.9 points

NASDAQ – at 21.21 points (0.98%) – up to 2,194.35 points

S&P – at 6.06 points (0.55%) – up to 1,105.98 points.

Technical Perspective:

For the third session in a row Friday the S&P set a new 52-week intraday high and failed to follow through. It also formed an outside day (higher high/lower low) and ended in the lower half of the range. The inability to sustain a breakout of the multi-week trading range is something to be aware of, but when range bound confirmation is needed to argue that further corrective trade will continue to develop. Short term resistance is at 1110/1111 in front of the high (1119) and the technical target area (1120/1121). Minor support is at 1101/1100 with the low (1096) important on an intraday and close basis.

Key economic data:
-October Consumer Credit at 15:00ET (consensus -$9.3 bln; prior -$14.8 bln)

Federal Reserve/Treasury calendar:
-Chairman Bernanke speaks at 12:00ET
-New York President Dudley speaks at 17:45ET

Key Note/Bond auction results:
-None

Earnings:
-CASY, FMCN and PBY are confirmed to report today after the close

Key industry conferences:
-U.S. Media & Communications Conference (Day 1 of 3) — Companies presenting: CMCSA, EBAY, GEOY, PCS, WPO, EVC, IACI, Q, TRI, WBMD, IPG, MHP, TIVO, B, VIA, IHS, NWS, WWE

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