FX.co ★ The US stock market review for 2010/07/06

On Tuesday, the US stock indices closed higher. The companies Microsoft, Alcoa and Bank of America were among the leaders of share growth, but the remaining worries about the global economic growth led to the loss of some part of earlier won positions.
Dow Jones Industrial Average index rose by 57.14 points, or by 0.59%, to 9743.62, having interrupted the falling series during seven sequential sessions. However, DJIA lost the bigger part of positions, won in the beginning of the session.
Nasdaq Composite index increased by 2.09 points, or by 0.10%, to 2093.88, having broken off the decline observed for five days in a row. Standard & Poor's 500 index edged up by 5.48 points, or by 0.54%, to 1028.06, having finished the decreasing series of five last sessions. The previous week S&P 500 index fell by 5%, moving down during all five trading sessions. On Monday, there was no trading in the USA because of holidays. Microsoft shares showed the best dynamics as a part of DJIA on Tuesday and grew by 55 cents, or by 2.4%, to $23.82. Alcoa shares also were strong and demonstrated the growth of 21 cents, or 2.1%, to $10.21, while Bank of America increased by 22 cents, or by 1.6%, to $14.06. Meanwhile, Home Depot shares fell by 42 cents, or by 1.5%, to $27.34. Boeing stocks also were weak and decreased by 58 cents, or by 0.9%, to $61.36 and American Express shares lost 21 cents, or 0.5% and fell to $39.21. Traders said that Tuesday’s growth was logical after the preceding week’s fall. However, the won positions were lost at the second part of session, as the investors’ fears concerning the world economy appeared again.
Nevertheless, analysts continue to raise the forecasts on companies’ profitability and they have been doing that with all speed since 2004. So, S&P 500 companies profit is expected to grow by 34% in 2010 according to Bloomberg survey. The analogical survey from March 29 showed the analysts estimates of 27%.