04th August to 11th August 2013.
Stock market review, it is expected to perform well in the coming week, given the latest trends and today’s gains.
Layoff trends touched the lowest in 5 years, buoying hopes of an economic recovery. On Thursday, the Labor Department said that jobless benefit claims dropped to 335,500. Though this would have an impact on the markets, analysts are keeping their fingers crossed. This is precisely because job creations have not been strong enough to jack up stock markets.
It is reported that for the month of July employers added just 162,000 workers to payrolls. It is because of this many analysts strongly believe that the possibility of job creation pushing up the economy is limited. To make this happen jobs need to be created in huge numbers and continuously.
If the U.S. central bank cuts down its massive bond-buying stimulus program chances of a stock market recovery stand very high. The Fed will shortly review its policy of buying $85 billion a month in bonds to push down borrowing costs.
Meanwhile, after three days of fall in value, stock prices on Wall Street rose today. The gains were primarily led by the technology sector. Microsoft shares went up by 3 percent while the S&P index for the information technology sector rose by 0.5 percent. Shares of Tesla Motors Inc shot up by 14.2 percent after the company reported huge quarterly gains. Almost 90% of companies listed in S&P 500 reported earnings today, while 66.8 percent topped analysts’ expectations.
The upward trend in the stock market is likely to continue. If the Fed backs out of its stimulus program, stocks will head skywards.
|NPS Pharmaceuticals, Inc.||25.36%||2.30B|
|Ubiquiti Networks Inc||24.53%||2.30B|
|Air Methods Corp||16.91%||1.62B|
|Youku Tudou Inc (ADR)||-8.31%||4.31B|
|Wright Medical Group Inc||-8.11%||1.16B|
|Nikkei 225||13,615.19||+9.63 (0.07%)|
|Hang Seng Index||21,807.56||+151.68 (0.70%)|
|FTSE 100||6,583.39||+53.71 (0.82%)|
|EURO STOXX 50||2,825.62||+8.74 (0.31%)|
|CAC 40||4,076.55||+12.23 (0.30%)|
|S&P TSX||12,542.13||-10.79 (-0.09%)|
|S&P/ASX 200||5,055.20||-9.60 (-0.19%)|
|BSE Sensex||18,789.34||+124.46 (0.67%)|
|3 Month||0.01%||-0.01 (-50.00%)|
|6 Month||0.06%||0.00 (0.00%)|
|2 Year||0.30%||0.00 (0.00%)|
|5 Year||1.30%||-0.02 (-1.52%)|
|10 Year||2.49%||-0.03 (-1.19%)|
Data: Google Finance