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Thursday, 23 May 07:50 (GMT -05:00)

Business And Politics News

US Exchanges: Ben Bernanke and Positive Statistics Influence Indexes


The statement of the Head of the Federal Reserve System Ben Bernanke, which has been passionately waited for by almost all investors, has had a positive impact on US stock indexes. On Friday American exchanges closed with a steady growth. Dow Jones Industrial Average index has risen by 0.69 percent, having amounted to 13090.8 points. Standard & Poor’s 500 has risen by 0.51 percent, having reached 3066.97 points. NASDAQ index has gained 0.6 percent, thus amounting to 1406.58 points.

On August 31 the Head of US Central Bank gave a speech during the conference in Jackson Hole. Ben Bernanke has stated that economic condition is far from ideal, and “in case of necessity” additional support will be provided. He has also reminded of the previously taken measures on 3 percent support of US economy and 2 million rise of the number of jobs. Bernanke has accused Europe of the existing problems, having admitted that internal hardships also have a negative role.

This statement has become a certain signal to the third quantitative easing. However, traders were expecting a more detailed plan for further actions.

The indexes may have risen less if it had not been for positive statistics of US industrial customers. In comparison to June, in July it has risen by 2.8 percent, having amounted to 478.62 billion dollars in money terms.

The chart below reflects the dynamics of Standard & Poor’s 500 during the trading session on Friday:



SP 500


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