Wall Street ends up despite the Fed
Posted by admin | Under business, finance, life, money, publications Thursday Sep 9, 2010The U.S. stock markets end in green on Wednesday and confirmed the rebound. After sitting down sharply Tuesday, the Dow Jones gained 0.45% to close at 10,387 points, the Standard & Poor's 500 is 0.64% to 1099 points while the Nasdaq 100 climbed 0.91% at 2229 points .
The markets showed no signs of concern despite the findings of the Fed's Beige Book. The U.S. central bank sees a "profusion of signs of an economic downturn, but investors had already assimilated the information.
The markets were also reassured by the success of the double issue of Portugal announced today.The country has raised 1.039 billion euros in government bonds at 3 and 11 years, but at higher rates than in previous similar operations. "It is a success insofar as the state has succeeded in placing the debt and that there was demand, "said Filipe Silva told AFP bond strategist at Banco Carregosa. This comforts the markets closed on the health of European banks.
On the foreign exchange market, the euro penalized yesterday by concerns over the European banking sector recovered himself.Having lost 1.46% Tuesday, the euro climbed to 1.2720 dollars around 15.30.
Also note in the current macroeconomic, China has again rejected any foreign pressure on Tuesday the exchange rate of its currency, the yuan, while reaffirming the need to maintain good relations with the United States to During the visit to Beijing two senior White House officials.
ZymoGenetics gains more than 80%
On the side of values, while Sanofi-Aventis continues to woo Genzyme (-0.32% to 70.78 dollars), the U.S. laboratory Bristol-Myers Squibb (0.60% to 26.77 dollars) has agreed to buy another American biotech, ZymoGenetics (84.15% to 9.75 dollars) for 885 million dollars.
After its disappointing second quarter, including Its Defence, Boeing (1.75% to 64.53 dollars) announced the reorganization of its military aviation activities.The number of divisions from six to four, with a consequent 10% reduction in the number of posts.
Today on Wall Street banking is likely to remain under pressure. The feeling of increased bank risk has also been fueled by the meeting yesterday, the Basel Committee, responsible for setting new solvency rules for banks. However, after this meeting, the committee has maintained the suspense in not distributing a press release. It will do that Sunday. In the morning, a Wall Street Journal had rekindled doubts doubt on the reliability stress tests on European banks, whose results were published at the end of July. Battered yesterday, the bank found the way to increase the image of JP Morgan (2.17%), Bank of America (1.06%) or Goldman Sachs (1.51%).