Wall Street is taking baby steps - December 29, 2010
Wall Street advance with measured steps. One economic indicator in the program and trading volumes ahead once again starving. The Dow Jones gained 0.21% to 11,600.10 points, the S & P 500 rose 0.15% to 1260.42 points and the Nasdaq climbed 0.10% to 2665.53 points.
The U.S. market has ultimately withstood yesterday, both down, more pronounced than expected, property prices, and an index of consumer confidence disappointing. The only news that would, could, on Tuesday, giving back a little from markets, have gone unnoticed: the manufacturing index of the Richmond Fed, which beat the consensus, but also a private study which highlighted a relative optimism of consumers on their spending later this year.
Oil stocks to menu
The indices have however little news on Wednesday to put in their mouths.Trade volumes, skeletal and this Christmas holiday period, should not help them progress. In fact, no statistical projection is scheduled to macroeconomic agenda item. Only the weekly oil inventories will animate somewhat this winter torpor, at 16:30.
Paypal and Berkshire Hathaway
On the corporate side, no major publication is expected on Wednesday. The payment service PayPal online, a subsidiary of eBay (-0.04% to 28.34 dollars) based in the United States, has signed an agreement with the Chinese metropolis of Chongqing order to develop a large platform of payments International online.In a joint statement with PayPal, the city mayor Huang Qifan, said he hoped that this agreement will enable Chongqing to become the leading center in China for transactions of e-commerce.
In addition, MidAmerican Energy, the energy division of the company magnate Warren Buffett, Berkshire Hathaway (-0.19% to 79.84 dollars), has signed with Siemens (+0.22% to 124.31 dollars) agreement delivery of 258 wind turbines of 2.3 megawatts each. Planned installation in 2011 at 5 sites in Iowa. We do not know the amount of the contract.