FX.co ★ The U.S. stock market review

On Monday, during the trading session the stocks demonstrated growth, as the home sales data in the primary market contributed to increase of Bank of America shares and the whole financial sector, while the technical sector shares are in the holding pattern. Dow Jones Industrial Average rose by 15 points and closed at 9109. Among others, S&P 500 increased by 2.92 points or by 0.30% to 982,18, the highest mark since November, 4. Nasdaq Composite climbed by 1.93 points or by 0.10% to 1967,89.

The major companies showed their shares upturn: Bank of America shares closed by 58 cents higher or by 4,6% at 13.09. Among other financial sector leaders, Regions Financial shares ticked up by 33 cents or by
8,9% to 4.02. This was due to the Commerce Department report saying that the primary market home sales rose in June, signaling the housing market recovery. After a positive financials release the investors rely on economic revival affirmation in some reports of this week, the most essential among them turns out to be the GDP data for Q2.

Despite an improvement, some investors note that a pullback in the stock market seems not to be so sharp and across-the-board, as it was during the last 2 weeks. While the economic climate improved, at present, there are no new findings signaling that the market is on the rebound. Besides, according to Data Explorers, short sales in S&P500 reached its 2-month high.

Kind regards,

Analyst: Vladimir Donin