Weekly Review of the Stock Market
Last Wednesday and Thursday marked the main news that shook the markets - reaching the final agreement of the Government of Greece with their donors - the EU, the European Central Bank and the International Monetary Fund - to receive the second package of financial assistance amounting to 130 billion euros. Some of these funds in the amount of 14.5 billion euros in Greece had to get to settle with its creditors on the bonds until March 20. But on Friday, the growth stopped. Showed a negative trend index of consumer sentiment (from 75 to 72.5 points), and economic expectations (down to 68 points), current economic conditions (from 84.2 to 79.6 points). Thus, all sectors were closed on Friday in the red zone.
On Monday and Tuesday, the market showed multidirectional movement in the lateral direction. Thus, in Monday trading closed in the green zone, and on Tuesday - in the red. U.S. stock indexes are consolidated in the region of 12,850 (Dow Jones) and 1350 (S & P 500), respectively. A significant decline is observed in the current moment in the financial sector. Shares «Wells Fargo» Reduce up to -0.65%. Showed a decrease, and securities of other companies: «Bank of America» (-3.27%), «Citigroup» (-0.09), «JPMorgan Chase» (-0.99%). Of the positive news companies should note the capitalization carried out on 17% of the largest restaurant chain «Buffalo Wild Wings». Leading manufacturer of networking equipment «Cisco Systems» also showed profit growth, which was above analysts' forecasts. Shares of well-known manufacturer of graphics chips «Nvidia» rose in price by 1.6%, which was the result of expert advice to improve «FBR Capital Markets» with respect to securities of the company.