The market review for November, 11st

Stock trades in the United States were closed on November 10 countervailing change leading indexes. The main factor that influenced the outcome of the meeting, was the publication of financial statements of a number of American companies. In the banking sector is worth noting improvement quotes Bank of America Corp. (1.65%) appeared on the background of news British bank HSBC to reduce the level of arrears on consumer credit in the United States.

In the Green Zone ended in bidding for the world’s largest insurance company American International Group Inc. (3.90%) amid reports from the agency Moody’s Investors Service. According to analysts Moody’s, AIG in the near future be able to pay received from the Federal Reserve System (FRS), the U.S. loan and pay off most of the debt owed to the Ministry of Finance (Unites States Department of the Treasury) to exit from a crisis situation.

Shares of American construction company, Beazer Homes USA Inc. risen up to the trading session at 8.74% against the background of the publication of indicators of quarterly reporting, surpassed analysts’ forecasts.

Quotes of the largest in the U.S. network operator credit cards American Express Co. increased by 1,6%, which was made possible through the company’s statement on the growth of consumer spending in the world at 3% in October this year.

Also on the basis of trades rose quotes postal carrier FedEx Corp. (1.12%) against the company forecasts an increase in orders FedEx to 8% before the Christmas holidays this year.

Among the leaders of the fall is worth noting the world’s largest bond insurer MBIA Inc. Quotes of the company fell on 26.67% as a result of publication of the financial report of its loss. According to MBIA net loss for the III quarter of this year amounted to 728 million dollars, the bulk of losses occurred in insurance payments on unsecured credit derivatives.

Also on the result of the trading session, shares have fallen in price in the largest U.S. engineering company Fluor Corp. at 7,56% on the background of the publication of the financial report, which is not justified forecasts of analysts. In addition, the company lowered its profit forecast for the current year, which also had an impact on the quotation.

Shares of the second-largest producer in the world of video games Electronic Arts Inc. fell 6.35%. The reason for the decrease in quotations of the company was the publication of its report for II quarter 2009-2010 financial year. It reported a net loss of Electronic Arts in II quarter 2009-2010 financial year amounted to $ 391 million operating loss in the company during the reporting period reached 417 million dollars

Dow Jones index rose by 20.03 points (0.20%) – to 10,246.97 points
NASDAQ fell by 2.98 points (-0.14%) – to 2,151.08 points
S&P fell 0.07 points (-0.01%) – up to 1,093.01 points.

Sector :

Industry :

Technical Perspective:
The choppy action in the S&P amid low volume yesterday formed a loss of momentum pattern (doji). This kind of trade is not unusual after a sizeable run and is consistent with the market just under the 52-week close/intraday highs (1097, 1101). Widely-watched levels such as these can be price magnets, but note that the 2007-2008 trendline off the highs comes into play just above (roughly 1103), which raises the possibility that we could see a pause after a test/throw-over (get a short term breach but unable to hold). A posture above initial support at 1087/1086 and 1084 during any early gyrations tomorrow would leave it well positioned. A close below argues for further corrective trade.

Key economic data:
-None

Federal Reserve/Treasury calendar:
-None

Key Note/Bond auction results:
-None

Earnings:
-14 companies are confirmed to report today after the close, though none are expected to be market-moving releases

Key industry conferences:
-Bank of America-Merrill Lynch Banking and Financial Services Conference (Day 2 of 2) — Companies presenting: IVZ, LAZ, WAL, AB, C, TCB, BPSG, BXS, EV, MI, TAYC, BOH, LM, SWS, BLK, AMTD, WDR, AINV, FFBC
-Citi Industrial Manufacturing & Transportation Conference — Companies presenting: GR, TNB, NSC, CP, UNP
-Credit Suisse Healthcare Conference (Day 1 of 3) — Companies presenting: HSP, PFWD, BDX, ONXX, GILD, PMC, WPI, EW, IPCM, MRX, AMLN, EURX, OCR, PRGO, REGN, VTIV, WLP, ZMH, BMRN, VPHM, MDRX, BAX, CYH, RIGL, PTIE, CHE, COV, HMSY, CELG, RMD, SLXP, GTS, TFX, CNC, CYTK, SIRO, ALKS, NSPH, SCMP
-Goldman Sachs Data Center Techtonics Conference (Day 1 of 2) — Companies presenting: EMC, NTAP, PAR, JNPR, RAX, SVVS, TMRK, BMC, CA, SFSF, AVT, ACN, CTXS
-Piper Jaffray Global Internet Summit (Day 2 of 2) — Companies presenting: GOOG, LOOK, SFLY
-Robert W. Baird Industrial Conference (Day 2 of 2) — Companies presenting: DHR, HWCC, SPW, MOD, RBN, TEX, OSK, TWIN, JOYG, WTS, CVGI, EMR, WERN, CIR, MTW, PLL, AME, BUCY, RRR, BEZ, IR, JBHT, BLL

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