FXstreet.com (Córdoba) - U.S. markets rose on Friday and ended the week in positive with moderate gains. The Dow Jones rose 0.72% to finish at 10,270. The index is consolidating above 10,000 and for the week rose more than 2%. Equities worldwide ended mostly in positive for the week, after receiving the boost from the G20 on Monday and on
Friday with the return to growth in Europe.
The ecPulse.com analysis team affirms: U.S. equity indexes ended this week's session in green to extend a second straightly weekly rally, whereas better than expected earnings from Walt Disney Co and Abercrombie & Fitch Co managed to boost investors' confidence, despite that the University of Michigan confidence index failed to meet expectations.
In the macroeconomic side, U.S. deficit in goods and services trade with the rest of the world has widened to $36.5 Billion in September from $30.8 Billion in Agust, well beyond the market consensus of $32.0 Billion. Furthermore, U.Michigan/Reuters Consumer Confidence Index has dropped to 66.1 in November, from 70.6 in October.
Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, comments: Analysis We continue to feel that stock indices have probably put in this year's highs, or are about to do so, and are more likely to drift in thin markets over the next six weeks. FX will continue to consolidate, as should most commodities, with a tendency for the Yen to strengthen slightly and for the US dollar to weaken medium term. Treasury yields might drift lower too.