Major US stock indexes didn’t show the kind of profitability seen at the beginning of the volatile session.
Yesterday, S&P 500 was trading around 1400, reports:
- Dow Jones gained 0,2%m thus touching 13 143,62.
- McDonald’s stock dropped by 2,15% down to $87,01 per share after multiple offices around the globe reported about poor sales in June.
- S&P 500 dropped by 0,3% down to 397,69. Luxury companies contributed to the decline most of all.
- Nasdaq Composite lost 0,4% and reached 3 004,02.
The working efficiency in the USA increased by 1.6% in Q2 2012 as most US companies had increased the production volume.
Hewlett-Packard’s stock increased in value by 3,2% up to $19,56 per share after the tech giant upgraded its quarterly income forecast by $1 per share.
Priceline’s stock dropped 15,3% down to $575,81 per share after a negative report on tourism..
The market capitalization of Macy increased by 2,5% up to $37,91 per share after a positive quarterly income report.
According to , US stock markets have been rather volatile since early June. That is why it is recommended to avoid trading big lots while exposure reduction looks fairly rational.
S&P500 declined last week but started recovering on Friday:
S&P500 accounts for over 80% of NYSE stocks and a part of NASDAQ stocks.
FTSE 100, Europe’s leading index, has shown a major increase this week. That was a bullish driver for US. stocks amid negative reports:
FTSE 100 is the leading British stock index and Europe’s major stock index.
At the same time, Asian markets are not so optimistic despite a minor rally. This is a restraining factor amid some optimism coming from Europe.
Hang Seng is Hong Kong China’s major stock index.
S&P 500 is the major US stock index. Moreover, it can be viewed as the world’s major stock index as well because the US stock market accounts for 305 of the global stock market.
The rally of S&P 500 is going on within a sloping channel. The closest level of resistance is located at 1400.00. A break above the level may trigger a strong upswing. Otherwise, the price will probably go back to the bottom of the channel.
