The Dow Jones gained 0.80% to 9864.94 points with the momentum indicators and corporate earnings better than expected, published in the week. This is its highest closing level since October 6, 2008. The Nasdaq gained 0.72% turn to 2139.28 points.
The U.S. trade deficit declined by 3.6% in August to 30.7 billion dollars against 31.9 billion in July, data adjusted for seasonal variations. This decline is due to higher exports and lower imports. The market was waiting to turn an increase in the deficit to 33 billion.
Traders expect the status quo of U.S. interest rates for a few months after the speech of Ben Bernanke yesterday. This indicated that the Fed would be "ready" to act in time to return to a normal monetary policy."When economic prospects are sufficiently improved, we are ready to tighten monetary policy to eventually bring our balance to a more normal configuration," he said.
The values of the day
In a statement Chevron (1.83%) indicates that its results "should be better in the third quarter than the second. The results of exploration and production are expected to rise sharply, reflecting rising prices for crude oil, as well as some 400 million of gains from asset sales and tax revenue.
The Chinese Tengzhong will redeem 4×4 Hummer brand from General Motors today. The amount would be some 150 million dollars. Sichuan Tengzhong Heavy Industrial Machinery was in talks with GM since JuneIn addition, sales of General Motors in China and its joint ventures are around 1.3 million vehicles in the first nine months of the year.
The Wall Street Journal, the bookstore chain Barnes & Noble (-1.33%) is about to sell its own electronic reader, Kindle competitor to Amazon. Com.