Sunday, September 26, 2010

Dow Jones Industrial Average Review, 24/09/2010

Dow Jones up with 4th consecutive weekly gains.

The Dow Jones soared 197 points last Friday and posted a 2.4% weekly gain to 10826 points . It is the Dow fourth straight week of gain following better-than-expected U.S. Aug durable order books. Although the headlines indicated a 1.3% decline, excluding transportation, new orders rose 2%. Moreover, investors focused on orders for non-defense capital goods excluding aircraft which increased 4.1% in August.

Meanwhile, rising German’s business climate index in September to 106.8 (consensus: 106.4) also injected another impetus to the Dow to record a strong surge in traditionally sluggish September. So far, the Dow has rallied 8.4%, which would be the best monthly gain since July 09 (+8.6%)

For Dow, key economic data will be watched for further clues on whether the economic recovery is still on track and to see if the market's recent rally has support. Major announcements are September consumer confidence (28 September), August’s consumer spending (1 October) and ISM index (1 October).

Weekly Dow Jones Shows a marching towards year-to-date high of 11258 amid bullish indicators.
Source: MarketWatch

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