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lundi 10 mai 2010

Net rebound in U.S. stock markets.



Keywords: market, scholarship, conjuncture, Wall Street.

The NYSE, which had been sailing for several days at the rate of the euro crisis shows a sharp rise on Monday in the wake of European and Asian exchanges.

The Heads of State and Government of the European Union have they found the winning formula to end the distrust in the markets? The announcement by Nicolas Sarkozy and Angela Merkel of vaste rescue plan for troubled countries of the euro area is literally acclaimed by the markets. At the opening, Wall Street follows the lead of European markets and opened sharply higher Monday. The Dow Jones gained 2.02% and the Nasdaq 4.59%. Last week, the NYSE had plunged in unison with the European places. The Dow Jones lost 5.7%, S & P 500 6.4%. For his part, the Nasdaq had fallen by 8%, posting its biggest weekly correction since November 2008.
European shares move sharply higher on MondayAfter the announcement of the establishment of the historic rescue plan for the European Union and exceptional measures taken by central banks around the world. Paris wins more than 8.5% in mid-session, Lisbon more than 9%. In Frankfurt, the DAX climbed 3.25% at the same time, while in London the FTSE gained more than 3%.

The euro around $ 1.30:
On the currency markets, the euro fluctuates with the $ 1.30 mark in mid-afternoon at 1.2932 dollars against 1.3028 dollars, on Monday morning. But, having reached Thursday to its lowest level since March 2009 to 1.2523 dollars, the trend is clearly upward for the single currency after the announcement of the rescue plan for troubled countries in the euro area.
Effect of revival of the euro, the price of oil rebounded at the opening of the New York Stock Exchange, after falling more than ten dollars last week. Around 3:00 p.m., on the New York Mercantile Exchange, a barrel of light sweet crude for June delivery traded at 77.16 dollars, up 2.05 dollars from Friday.
No major appointments are expected on the macroeconomic level on Wall Street. Investors, however, follow the speech of Michel Barnier, European Commissioner responsible for financial services while in New York on Monday. In the U.S., the most important indicators of the week will be published Friday with retail sales, consumer confidence and industrial production.

Banking and technology in the spotlight:
From the values listed, U.S. banking stocks, like their European counterparts take the limelight on Monday. Around 3:50 p.m., Morgan Stanley rose 4.51% to $ 29, JP Morgan Chase climbed 5.52% to 43.01 dollars, Goldman Sachs advance of 3.04% to 147.33 dollars and Citigroup earns 6.25% 4.25 dollars.
Having undergone significant profit taking last week, technology stocks are also well oriented: Intel was up 4.10% to 22.38 dollars, Microsoft rose 4.10% to 29.23 dollars, Apple climbed 6.51% to 251.23 dollars, Cisco, which must publish its third quarter results next Wednesday, was up 6.52% to 26.32 dollars and STMicroelectronics gained 6.16% to 8 , $ 62.

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