The New York Stock Exchange rebounded Friday after two sessions of fall, welcoming the prospect of appointing the chairman of the Federal Reserve of New York Timothy Geithner as Secretary to the Treasury: the Dow Jones won 6.54% and Nasdaq 5.18%.
According to final figures closing, the Dow Jones Industrial Average (DJIA) was up 494.13 points at 8046.42 and the Nasdaq, mainly technology, 68.23 points to 1384.35 points.
The index expanded Standard & Poor's 500 was 6.32% (47.59 points) to 800.03 points.
After a plunge of 10% over the previous two meetings, which had reduced to the lowest since 2003, and have trampled much of the day, the Dow Jones took off at the end of the meeting.
This dramatic rise was caused by "the news that Timothy Geithner will become the next Treasury Secretary, given by the television channel NBC, said Peter Cardillo, strategist Avalon Partners.
The official announcement is expected Monday.
"This will perhaps restore confidence," he added, noting that Mr. Geithner worked closely with the Minister, Henry Paulson, to address the financial crisis.
His five years at the helm of the New York Fed, traditional intermediary between financial markets and the central bank, made it knows the functioning of markets.
"It was an issue that weighed on the market", has tried for his part Art Hogan, Jefferies of the bank.
Henry Paulson said Monday he did not draw more in the $ 700 billion made available by Congress to save the banks by the taking office of President Barack Obama.
With the lifting uncertainty about the identity of the next Treasury Secretary, the market will be able to focus on the use of the second half of the funds has ruled Mr. Hogan.
This has pushed into the background the difficulties of the bank Citigroup, which had weighed heavily on the meeting. After losing half its value in two days, the Bank of New York has dropped by 19.96% to 3.77 dollars.
According to the Wall Street Journal, its leaders are considering various scenarios of the worst, providing for the transfer of entire sections of the bank or its outright sale. But the boss of the group, Vikram Pandit, has ruled out a sale of the group by apartments, according to the CNBC channel, reviving speculation about the future of the bank.
Elsewhere in the financial sector, JPMorgan Chase lost 2.82% to 22.72 dollars. The bank has just begun removing about 10% of its activity in its investment bank, according to the Financial Times.
Most other banks, a sharp decline during the meeting, eventually rising: Bank of America took 1.96% to 11.47 dollars and Goldman Sachs 2.52% to 53.31 dollars.
Major beneficiaries of the hunt for bargains end of the meeting, values energy and mining companies took advantage of a pause in falling prices. The ExxonMobil oil jumped 10.66% to 75.81 dollars and the aluminum giant Alcoa 23.21% to 8.44 dollars.
The computer manufacturer Dell has dropped 7.22% to 9.12 dollars. He has published a quarterly profit above market expectations, but its sales have disappointed.
The distribution giant Wal-Mart rose 4.46% to 52.92 dollars after announcing a change unexpectedly boss from 1 February.
The bond market, which had reached a historic high Thursday, fell. The good performance of 10-year Treasury rose to 3167% 3144% against Thursday evening, but at age 30 fell to 3663% 3699% against the previous day.
According to final figures closing, the Dow Jones Industrial Average (DJIA) was up 494.13 points at 8046.42 and the Nasdaq, mainly technology, 68.23 points to 1384.35 points.
The index expanded Standard & Poor's 500 was 6.32% (47.59 points) to 800.03 points.
After a plunge of 10% over the previous two meetings, which had reduced to the lowest since 2003, and have trampled much of the day, the Dow Jones took off at the end of the meeting.
This dramatic rise was caused by "the news that Timothy Geithner will become the next Treasury Secretary, given by the television channel NBC, said Peter Cardillo, strategist Avalon Partners.
The official announcement is expected Monday.
"This will perhaps restore confidence," he added, noting that Mr. Geithner worked closely with the Minister, Henry Paulson, to address the financial crisis.
His five years at the helm of the New York Fed, traditional intermediary between financial markets and the central bank, made it knows the functioning of markets.
"It was an issue that weighed on the market", has tried for his part Art Hogan, Jefferies of the bank.
Henry Paulson said Monday he did not draw more in the $ 700 billion made available by Congress to save the banks by the taking office of President Barack Obama.
With the lifting uncertainty about the identity of the next Treasury Secretary, the market will be able to focus on the use of the second half of the funds has ruled Mr. Hogan.
This has pushed into the background the difficulties of the bank Citigroup, which had weighed heavily on the meeting. After losing half its value in two days, the Bank of New York has dropped by 19.96% to 3.77 dollars.
According to the Wall Street Journal, its leaders are considering various scenarios of the worst, providing for the transfer of entire sections of the bank or its outright sale. But the boss of the group, Vikram Pandit, has ruled out a sale of the group by apartments, according to the CNBC channel, reviving speculation about the future of the bank.
Elsewhere in the financial sector, JPMorgan Chase lost 2.82% to 22.72 dollars. The bank has just begun removing about 10% of its activity in its investment bank, according to the Financial Times.
Most other banks, a sharp decline during the meeting, eventually rising: Bank of America took 1.96% to 11.47 dollars and Goldman Sachs 2.52% to 53.31 dollars.
Major beneficiaries of the hunt for bargains end of the meeting, values energy and mining companies took advantage of a pause in falling prices. The ExxonMobil oil jumped 10.66% to 75.81 dollars and the aluminum giant Alcoa 23.21% to 8.44 dollars.
The computer manufacturer Dell has dropped 7.22% to 9.12 dollars. He has published a quarterly profit above market expectations, but its sales have disappointed.
The distribution giant Wal-Mart rose 4.46% to 52.92 dollars after announcing a change unexpectedly boss from 1 February.
The bond market, which had reached a historic high Thursday, fell. The good performance of 10-year Treasury rose to 3167% 3144% against Thursday evening, but at age 30 fell to 3663% 3699% against the previous day.
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