FX.co ★ The U.S. stock market review

The American Express and Hartford Financial shares became the leaders of growth among the financial companies on Wednesday. The Anadarko Petroleum and some other energy companies’ shares also grew. As a result the USA stock indexes closed again at the highest levels for last year.

Dow Jones Industrial Average Index ticked up by 108,30 points or 1,12 %, to 9791,71 points. The leaders of growth are the American Express shares, they surged by 1,19 dollars or 3,4 %, to 3584 dollars, General Electric shares, they jumped by 1 dollar or 6,3 % to 17 dollars and JPMorgan Chase shares, they rose in price by 1,46 dollars or 3,4 %, to 44,65 dollars. The index grew the eighth session of last nine and closed on Wednesday at the highest level since October, 6. The growth for this month is 3,1 %.

Standard and Poor\'s 500 upturned by 16,13 points or 1,53 %, to 1068,75. The financial companies shares moved upward by 3,4 %, and energy - by 2,3 %. Nasdaq Composite Index climbed by 30,51 points or 1,45 %, to 2133,15 points, the highest level since September, 26.

The insurance companies’ shares were at the highest demand among the shares of the financial companies. In particular, Hartford Financial shares rose by 2,72 dollars or 11 %, to 28,16 dollars. Marshall and Ilsley shares ticked up by 60 cents or 8 %, to 8,06 dollars.

Among the energy companies it is necessary to note the Anadarko Petroleum shares which grew by 5,68 dollars or 9,6 %, to 64,85 dollars. Tullow Oil shares surged by 21,05 dollars or 12 %, to 199 dollars. This company informed that they found out oil fields in Sierra Leone coast. Analysts consider that this find can be a signal to other oil fields detection in this area.

Besides the general growth of risky assets demand, stock indexes also were supported by the economic data published on Wednesday. The USA Federal Reserve System informed that industrial production increased by 0,8 % in August, because factories extended the production of cars, machinery, foodstuff, clothes and other goods.

Moreover, the US Department of Labor reported the consumer price index growth by 0,4 % in August, that met the economists expectations. Base CPI, leaving out of account the price for foodstuff and energy products, climbed by 0,1 %, as expected.

Regards,

Analyst: M.A.Donin