On Friday the US stock indices closed higher, the recent week was rather quiet, but at the last day the positive macroeconomic data supported the market. The Dow Jones Industrial Average rose by 40.26 points, or by 0.35%, to 11410.3 points. The Nasdaq Composite added 20.87 points, or 0.8%, to 2637.54 points. The Standard & Poor’s 500 grew by 7.4 points, or 0.6%, to 1240.4 points.
General Electric shares edged higher $0.59, or 3.4$, to $17.72. GE raised the quarter dividend by 17%, this is the second advance of the dividend by the company in 2010. Procter & Gamble stocks soared by $0.33, or by 0.5%, to $63.2 after Goldman Sachs raised the recommendation on company’s shares to “buy” from “neutral”. Experts say that Wall Street underestimates the growth potential of the company on the emerging markets, where, according to Goldman Sachs, “the possibilities of the company are enormous”. The market rose on Friday after the positive US macroeconomic data were released. The preliminary Michigan sentiment index topped the expectations, and the US export reached the highest level in October for more than two years. In October the total deficit in international trade of goods and services in the USA unexpectedly fell by more than 13%, as the trade deficit with China narrowed. The Chinese export surged by 29.8%, and the import declined slightly. The Chinese trade data also topped the expectations, the export and import reached the record highs in November. On Friday the People’s Bank of China announced the raise of the reserve requirements by 50 basis points for banks, this is the sixth increase this year and third in a month. This step will reduce the amount of available capital for the lending of the Chinese banks.