Currencies  |  February 04, 2013 13:08:40

Dow Jones above 14,000

Dow Jones above 14,000

On Friday Merchant comforters better macro data in the U.S., which sent the Dow Jones index above the psychological level of 14,000 points. Above this level the index ended trading only nine times, so prelomenie is all the more important. The growth index to the highest level since October 2007 were signed mainly revisions predošlých data from the labor market, which over the last year to improve statistics on the number of jobs created outside the farmhouse sector by up to 335 thousand. places, so the job market last year was far stronger than the waiting. Managers' index while shopping in the production ended with an excellent result, which helped vanquish globally in the manufacturing PMI at 10-month highs. Overall, Fridays prospered in all segments of the index SP500, but most telekomunikáciám.Optimism in actions be felt on the sale of bonds and revenues to 10 as well as 30-yearly federal dlhopisoch moving at the highest level since April 2012. Fridays cocktail stock: Dow Jones +1.08% SP500 +1.01%, Nasdaq Composite +1.18%.

The labor market in the state katastrofálnom

The unemployment rate for December but merchants pleased, since increased by one-tenth of a percentage point to 7.9%. One of the most hated Obamom graphs, comparison, development of employment in comparison with developments in other postwar recessions, so it looks disastrous. The labor market still has what dobiehať, in order to get to the levels of the last peak, which occurred exactly five years ago.

Weakest recovery ever

Similarly, it is to behold recovery of real GDP. Who would average gross domestic product should be out of date compared to last day up by about 15% of GDP is currently higher by only 7%. So far, none of the post-war revival of GDP was not so oppressive slow, so even in this field, Obama has a large backlog. But mainly it sľuboval doubling export ...

Shares of another world

Politicians and especially Bernanke, but we stock traders. Currently we are in najslabšej pokrízovej economic recovery as well as the labor market, but a reflection of the shares is high above the average.What's on the witnesses? It appears that aggressive monetary stimulus, whose mission is to create wealth through vytláčania effect in stock prices and real estate, and vice versa through compressing yields per dlhopisoch, has its fruit.

Firms have grown at the expense of employees

Only question is, how long can this trend endure ... But how following graph shows the trend of lower wages and higher profits, corporations lasts since several decades and does not occur unless the situation is that employees will have a salary so low that it significantly decreases their purchasing power, weak trend in the real economy and a strong stock market will continue.Rast business exposure towards emerging markets, where it is possible imbalance similar, but real GDP is growing rather well, can cost U.S. businesses ensure room for expansion.

View on today

Who SP500 stock indices as well as the Dow Jones moving at a record maximách, the common currency today significantly decreases. The reason is mainly the situation in Spain and Italy. On the Iberian Peninsula have a new prime minister because of the affair Rajoyovi and his colleague who, after nearly two decades of winning a secret payment. Yesterday evening were the Madrid protests for his recall, since Španielom, beleaguered highest unemployment in Europe, do not like, and black politicians receive money.

In Italy, again raises tensions an earlier affair with the bank Monte dei Paschi di Siena, which concealed through derivatives surcharge may be levied for the purchase price of another bank. About all things should be able favorite for prime minister Monti. The result is a decrease in both administrations of the euro and growth yields on Italian and Spanish dlhopisoch. Euro begins to appear as if vytváralo larger peak and therefore it is possible that we will see a decrease to the level of 1.34. Euro now -0.59% / 1.3560.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker

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