2008-07-23

Good news and oil prices fell to promote U.S. stocks rise slightly

As the day announced the results gave mixed signals as well as the international crude oil futures prices continued to fall, 23 on the New York stock market are the three major indexes rose slightly.

Dow component AT & T's earnings exceeded market expectations, the company led the Standard & Poor's 500 communications stocks rose by 3.4 percent, since January this year, the largest single-day jump. AT & T said that the growth of mobile users and its partners Apple's new iPhone mobile phone sales exceeded the previously estimated.

However, the largest U.S. warehouse retailer plummeted more than good by 12 per cent. The company forecast, due to higher energy prices, as at August quarter profits will be lower than analysts expected.

The plate overall financial gains. U.S. Treasury Secretary Paulson said that the two of the largest U.S. mortgage agency premises of the United States and Fannie's aid will help restore investor confidence in the market, the premises of the United States and Fannie Mae's shares were up 11% And 12%. U.S. House of Representatives will be on the 23rd of the housing package of legislative vote, the legislation includes both the federal government on the security programme. At present, the market's relief programme was optimistic about final passage.

In addition, last week, U.S. crude inventories report showed that consumer downturn led to rising fuel inventories, the New York Mercantile Exchange crude oil futures prices slipped further, the first time in six weeks at under 125 U.S. dollars per barrel. Affected by this, retail, aviation and automobile stocks rose.

To the New York stock market closed, the Dow Jones industrial average closed the day before rose 29.88 points to close at 11632.38 points, or 0.26 percent. The Standard & Poor's 500 index rose 5.19 points to close at 1282.19 points, or 0.41 percent. The Nasdaq composite index rose 21.92 points to close at 2325.88 points, or 0.95 percent.

European major stock markets have also gained the same day. London's "Financial Times" 100 stock average rose 1.60 percent, to close at 5449.9 points. Frankfurt's DAX index rose 1.45 percent, to close at 6536.09 points. France's CAC40 index rose 1.88 percent, to close at 4408.74 points.