5:42 PM The release of the Company Earnings Season: Will Wall Street Support? | |
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The Dow Jones industrial closed up at the end of this week 49.04 points (0.4 percent) to the level of 11,871,84, the highest level since June 19, 2008. In this week the Dow Jones rose 84.46 points (0.7 percent). Nasdaq technology stock index fell 14.75 points (0.55 percent) to as low as 2689.54, and the accumulation of a week also fell 2.39 percent. S & P 500 Index on Friday rose 3.09 points (0.24 percent) to 1283.35, while the week was still down 0.76 percent. Shares of IBM (IBM) recorded the highest increase of 3.5 percent in the Dow Jones components. Meanwhile, Dupont (DD) experienced the sharpest decline approaching 3 percent. GE is a stock component of the S & P 500 that experienced the largest increase of 5 percent, while Apple shares suffered the biggest drop 6.25 percent in a week. CBOE volatility index, which is the benchmark market anxiety last week rose above the level of 18. While the U.S. dollar index against six major currencies main rivals dropped 0.61 points (0.77 percent) to 78.215. Market observers from Avalon Partners, Peter Cardillo said the stock could fall early this week when the S & P 500 fell 1 percent after the index approaching the upper limit. S & P index closed near the psychological level of 1,300 and approaching 12,000 Dow Jones also made investors anxious to experience a correction. "But investors seemed to focus on positive news from the financial statements on Friday," he said. "I think there is only one thing that still can support the increase in the stock today, namely the release of earnings that issuers will push the price to earnings ratio (PER), thus supporting the market fundamentals again," he explained. Meanwhile, technology stocks fell sharply in the week though corporate profits also improved, but due to low sales expectations in the coming months. Within a week AMD shares fell 5.99 percent in enough, even though corporate profits rose sharply computer chip maker. Stocks eBayturun 2.46 percent also contributed to the collapse of technology stocks were also reported strong profits despite the beginning of last week. The absence of data released this weekend make investor attention focused on the European market. German business sentiment index rising to make Europe shares gained thus making moves in the Dow Jones joined in on Friday. The exit of issuers profit from MC Donald, Halliburton, American Express, Yahoo, Verizon, Boeing, Caterpillar, Microsoft and Cevron can provide support for strengthening the Wall Street next week. Governors Meeting of central bank of Japan (BoJ) danbank Central America (the Fed), the release of the consumer confidence index and the beginning of America's GDP data will be to the attention of investors. | |
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