US MARKET 27.7.2009

The Nasdaq fell Friday, ending a 13-session winning streak after Microsoft reported a weaker-than-expected quarterly
profit. But the broader market mustered gains at the end of an up week on Wall Street. The Dow Jones industrial
average gained 0.26% (+23.95 pts, close 9,093.24)). The S&P 500 index gained 0.31% (+2.97 pts, close 979.26). The Nasdaq
Composite Index fell 0.39% (-7.64 pts, close 1,965.96). In currency trading, the dollar fell against the euro and the Japanese
yen. US light crude oil for September delivery rose 89 cents to settle at $68.05 a barrel on the New York Mercantile Exchange.
(CNNmoney)
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The worst U.S. recession in five decades probably eased in 2Q09 as trade and government stimulus mitigated the damage
from declines in housing, inventories and consumer and business spending, economists said before a report this week. The
world’s largest economy shrank at a 1.5% pace following a 5.5% drop in 1Q09, according to the median forecast of 66
economists surveyed by Bloomberg News ahead of Commerce Department figures due July 31. Other reports may show
orders for long-lasting goods fell and sales of new houses rose. Leaner stockpiles set the stage for a return to growth this
quarter as manufacturing and homebuilding stabilize, while efforts to revive demand globally boost exports. Consumer
spending, which accounts for 70% of the economy, may be slower to recover as unemployment is projected to keep rising and
home values are likely to fall further. (Bloomberg)
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Wagers against the Standard & Poor’s 500 Index declined for the first time since May as investors shorted fewer
shares of financial institutions, including a 92% reduction in bets on American International Group Inc. Short interest on the
S&P 500 fell to 9.98bn shares as of July 15, a decrease of 0.2% from two weeks earlier. Financial companies saw the only
decline among 10 industries, with short interest falling 7.1% to 3bn shares. (Bloomberg)