FX.co ★ The US stock market review for November 01, 2010

On Monday, the US stock indices showed the slight growth ahead of midterm elections in the USA and Federal Reserve System decision. The Dow Jones Industrail Average closed up by 6.13 points, or by 0.06%, at 11124.62. The Nasdaq Composite closed down by 2.57 points, or by 0.10%, at 2504.84. The Standard & Poor’s 500 hiked by 1.12 points, or by 0.09%, to 1184.38.
The shares of Kraft Foods showed the worst result, having dropped by 49 cents, or by 1.5%, to $31.58. Chevron securities decreased by $1.15 to $81.45. The shares of technology companies grew after the Semiconductor Industry Association reported the increase in world sales of microchip by 2.9% in September compared to the previous month.
Intel stocks surged by 52 cents, or by 2.6%, to $20.57, the shares of Hewlett-Packard rose in price by 45 cents to $42.49. The trader’s attention is caught by the midterm elections in the USA on Tuesday and Federal Open Market Committee decision on Wednesday. The fund market was showing the positive dynamics since the beginning of September amid the expectations regarding whether the FRS is going to resume the bonds purchase for the priming of economy. Investors say that they would not be surprised to see the decline after elections and FRS meeting, taking into account the steady increase of the shares since September amid the strengthening of market participants’ optimism. On Monday, the shares grew against the positive data on the production industry of the USA and China, and data that testified about the unexpected growth of construction expenses in the USA.