The market review for November, 9st

Stock trades in the U.S. on November 6 2009. closed growth of leading indexes against a background of macroeconomic statistics. Market participants were enthusiastic about the data on the amount of inventory in the warehouses of wholesale trade in the U.S. in September, published by the Ministry of Commerce (US Department of Commerce). The reported figure in September 2009. decreased by 0,9% compared to the previous month and exceeded the expectations of analysts, who expected a decline of 1%.

News macroeconomics influenced the growth of quotations of American development company Lennar Corp., Whose shares trade results went up by 4,6%. Also increased quotes multi industrial conglomerate General Electric Co. to 6,23% after analysts Sanford C. Bernstein & Co. and Oppenheimer & Co. raised their recommendations on shares of the company.

In the mining sector, it is worth noting the largest U.S. gold mining company Newmont Mining, whose shares trade results went up by 3,79% due to higher prices for precious metals to a record value of $ 1100 per troy ounce.

Against the background of quarterly financial reporting favorably ended the trading session for the world’s largest coffee-shop chain company Starbucks Corp., Whose shares went up by 7.21%. Also on the background of quarterly indicators rose quotes one of the world’s largest producer of graphics processors Nvidia Corp. (7.25).

One of the leaders of the fall on the basis of the trading session was the insurance company American International Group Inc. (AIG) (-9,67%). Market participants without enthusiastic at the company financial report for the III quarter of 2009. According to the data, AIG’s net profit in the III quarter of this year amounted to $ 455 million against net loss of $ 24.5 billion dollars a year earlier. Nevertheless, the financial position of AIG in the insurance market is still volatile, and that affected the results of the tenders.

In the energy sector decreased quotes U.S. oilfield services company Baker Hughes Inc. (-2.23%) In response to falling oil prices.

Dow Jones index rose by 17.46 points (0.17%) – to 10,023.42 points
NASDAQ – at 7.12 points (0.34%) – to 2,112.44 points
S&P – at 2.67 points (0.25%) – up to 1,069.30 points.

Sector :

Industry :

Technical Perspective:
The market started last week on a negative note as the relatively steep two-week slide off the October highs was extended into midday Monday before the indices found their footing. The worst performer (Russell 2000) held near support at its 200-day ema while the best performer and the last to reach its 50-day averages (Dow) held near this area, with all the indices retracing a substantial portion of the decline into Friday. The stabilization/recovery prevented intermediate term/weekly negative signals from being generated, but further work is needed this week to confirm that the move is more than a corrective bounce. Near term resistance for the S&P above the high (1071) is at 1074/1076 (retracement of slide off October high/Fibonacci extension/March-July trendline broken below two weeks ago), followed by the September peak at 1080. Minor support is at 1064 in front of the 1059/1058 zone.

Key economic data:
-None

Federal Reserve/Treasury calendar:
-Governor Tarullo speaks on financial regulation at 19:00ET

Key Note/Bond auction results:
-$40 bln in 3-year Notes at 13:00ET

Earnings:
-37 companies are confirmed to report today after the close, though none are expected to be market-moving releases

Key industry conferences:
-None

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