Traders on Wall Street: The sign of a good trading day are not bad. Source: AP
HB NEW YORK. It goes up. Bargain hunters and surprisingly strong numbers from the real estate market are the U.S. stock markets on Wednesday given a tail wind. After the downturn of the past week, many investors took advantage of the relatively low share price and attacked it with particular banks and industrial titles. For good mood also the two-year high caused by the number of sold homes. "On the basis of fundamentals are there still problems. But we were oversold on a technical basis," said Alan Lancz, president of Alan B. Lancz & Associates. "Behind the purchases not put a lot of enthusiasm, but there is hope that the recent lows will not be broken again."
The Dow Jones index of defaults rose in afternoon trading by 0.9 percent to 10,138 points. The S & P index gained 1.1 percent to 1086 points. The index of technology exchange Nasdaq climbed 1.4 percent to 2241 points. In Frankfurt, the Dax ended with a gain of 1.6 percent at 5758 points from the market.
After their last bitter price markdowns title were from the industrial and banking sector of the hit parade at the top. The shares of construction equipment manufacturer Caterpillar were among the biggest winners in the Dow and advanced 3.2 percent. The papers of the Citigroup helped in addition to an increase in the stock by analysts at Oppenheimer, who founded this with an undervaluation of the shares. The track climbed by five percent. The paper of the conglomerate General Electric increased by 2.5 percent, benefiting also from an upgrade. With the technology stocks gained the AppleShares 1.9 percent and the title of Dell 1.5 percent.
The shares of home builders gave the home numbers boost. Whose sales rose in April by about 15 percent to an annual rate of 504 000 units. Analysts polled by Reuters had expected only with 430,000 sales. However, other economic data encouraged the buyer: the U.S. industry was in April, the number of orders for machinery, vehicles and other durable goods, such as since the Lehman-Not fail. The orders grew by 2.9 percent the previous month. The increase was more than twice as much out as predicted by analysts. New orders, considered a key indicator for economic activity, was also the strongest since September 2008.
For the thrust in orders caused primarily by the aircraft manufacturers Boeing. The EADSCompetitor had received 34 orders in April for his expensive model 777th The share of Boeing climbed 2.3 percent. The decisive factor was also an upgrade of the paper by the analysts of Morgan Stanley. Up it went with titles from the energy industry, after commodity prices rebounded from their sharp decline. Shall be submitted as the shares of Schlumberger 1.8 percent.
Strong wanted attention was also the beginning of the trip to Europe by Finance Minister Timothy Geithner, the urge, inter alia, London and Berlin on a common approach in the fight against the debt crisis and promote the efforts for global financial reform