The market review for October, 26st

Stock trades in the United States were closed on Oct. 23 reduced the leading indexes. Among the leaders of the fall on the basis of trades were energy companies – shares of U.S. company Schlumberger Ltd. fell 4.96%, and ExxonMobil – to 1,17% on the background of falling oil prices for two consecutive days.

As a result of trades is much cheaper shares producer of semiconductor chips for wireless Broadcom Corp. (-7.26%), Since, according to company forecasts, sales in the IV quarter of this year changed insignificantly.

In “red” zone closed bidding for stakes in U.S. banks U.S. banks, including Wells Fargo (-2,82%), as well as USBancorp (-1,58%).

One of the leaders of growth on the basis of the trading session was the Amazon.com Inc., Owner of the world’s largest online store Amazon.com. The reason for the significant increase in the price of shares served as promulgated by the financial report of the company, which far exceeded analysts’ expectations. According to a report for III quarter, Amazon’s net profit for 9 months of 2009. increased by 23% and amounted to $ 518 million against earnings of $ 420 million received during the same period a year earlier. Amazon.com Revenues for the 9 months of this year increased by 20% and reached 14.989 billion dollars against the figure of $ 12.463 billion recorded a year earlier. Such indicators Amazon could not affect the value of the shares, which rose by 26,8%.

In the positive zone have closed trading for the shares of the producer of software company Microsoft, whose net profit in I quarter 2009-2010 financial year was reduced by 18% – to 3.57 billion dollars against 4.37 billion dollars during the same period a year earlier . Software giant’s revenues for July-September 2009. decreased by 14% and amounted to 12.92 billion dollars, while during the same period last year, the company managed to gain 15.06 billion dollars, however, investors viewed the results with optimism, and the company’s stock went up by 5.38%.

This makes it possible to publish a successful financial report risen shares of financial companies Capital One Financial Corp. (6.84%).

The influence on the course of bidding and provided macroeconomic statistics, including one of the main news was the National Association of realtors United States, which reported that the annual volume (in the last 12 months), sales of homes on the secondary housing market in the United States in September 2009. seasonally adjusted rose by 9,4% compared with that of August 2009. and amounted to 5.57 million units. This significantly exceeded the forecasts of experts, expected that this figure will be 5.35 million units.

Dow Jones index fell by 109.13 points (-1.08%) – up to 9,972.18 points
NASDAQ – to 10,82 points (-0.50%) – up to 2,154.47 points
S&P – at 13.31 points (-1.22%) – up to 1,079.60 points.

Sector :

Industry :

Key earnings/guidance since Friday’s close:
-Verizon (VZ) beat by a penny in the third quarter, ex items, on modestly better-than-expected revenue of $27.3 bln (First Call consensus $27.2 bln). Shares of VZ are up 2% premarket.

Technical Perspective:
Action last week was very choppy with the S&P 500 setting a new 52-week high mid-week before sliding back near a gap and its 20-day exponential. Although it rebounded aggressively off this area on Thursday, the pullback Friday left it slightly negative for the week with it forming a weekly loss of momentum doji pattern. This slowing of momentum has been noted in the failure of several sectors to reach September highs or retest the previous week highs (SMH, XLF). Initial support for the S&P is at the Friday/weekly low (1075/1074) and a weekly close below the doji would be considered a negative sign. Short term support below is at 1071/1070 followed by 1063/1062. First level resistance is at 1085/1086.

Key economic data:
-None

Federal Reserve/Treasury calendar:
-None

Key Note/Bond auction results:
-5-year TIPS reopening at 13:00ET

Earnings:
-46 companies are confirmed to report today after the close, including Baidu.com (BIDU)

Key industry conferences:
-None

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