Market Review By TraderXP:
Oil rose in New York for the first time in three days after China's exports increased more than forecast in December, indicating growth of the second-largest consumer of raw materials.
"It will be a good omen for oil demand from the manufacturing sector" in China, said Gordon Kwan, head of regional energy research for Mirae Asset Securities Ltd. in Hong Kong, who predicts WTI may rise above $ 95 a barrel this week. "This confirms our view that the export-oriented economy in China really made a real turn."
Market News
Wall Street is growing after Alcoa earnings reports
Shares rose on Wednesday, rebounding from two days of losses, as investors turned their attention to the outstanding results in the first season of income.
Stocks retreated earlier in the week with the highest point S & P 500 in the five years ended last Friday, on concerns about the potential weakness of the earnings.
Shares of Alcoa Inc fell 0.5 percent to $ 9.08after early profit, profit after release of the company after the bell on Tuesday. The largest U.S. aluminum producer, expects global aluminum demand to grow in 2013.
Herbalife Ltd shares rose 4.2 percent to $ 39.95 in its most active trading day in the history of the company after the hedge fund manager Dan Loeb took a large share of the food additives seller. The well-known short seller Bill Ackman previously accused the company of being "Pyramid" which Herbalife denied.
Traders were cautious in the current quarter was formed as the previous one, with companies in the recent decline in expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors, even if the results are not particularly strong.
"The big question and focus on earnings and Alcoa have been better than expected earnings," which calmed the market a bit, said Daly.
In general, corporate profits have been hit meager 0.1 percent growth in the previous quarter. Both profit and revenue in the fourth quarter is expected to have grown by 1.9 percent, according to Thomson Reuters.
Index Dow Jones Industrial Average gained 61.66 points, or 0.46 percent, to 13,390.51. 500 Index Standard & Poor rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index gained 14.00 points, or 0.45 percent, to 3,105.81.
Facebook Inc shares rose above $ 30 for the first time since July 2012, traded up 5.3 percent at $ 30.59. Facebook, which has beentight lipped about his plans after a failed IPO in May, invited the media to its headquarters next week.
Clearwire Corp shares jumped 7.2 percent to $ 3.13 after the Dish Network bid $ 2.28 billion for the company, beating the previous sentence Sprint and conditions for joining the battle for the wireless service provider that owns the crucial mobile spectrum .
Apollo Group Inc slid after heavy early losses on the following day reported lower student registrations for the third consecutive quarter, and reduced operating profit forecast for 2013. Apollo shares were last with 7.8 percent at $ 19.32.
Volume was below average in 2012, 6.42 billion shares traded per day, and 6.10 billion traded on the New York Stock Exchange, NYSE and Nasdaq MKT.
Advancing stocks outnumbered those on the decline theNYSE from 2014 to 963, while on the Nasdaq advanced beat decliners 1,603 to859. Reuters.com
Currencies
Ian about 2 1/2-year low, the Bank of Japan meeting approaches
Yen to the defense about 2-1/2-year low on Thursday on expectations the Bank of Japan's policy is a fresh and bold approach to higher inflation at the end of this month.
Yen last stood at 87.97 yen to the dollar, which is slightly below the levels of the late United States, and fringing around 2 1/2-year low 88.48 yen.
Its price action could be volatile as the Bank of Japan on January 21-22 policy meeting approaches, as seen from about 1.2 yen per cent rebound from the low that earlier this week.
"I feel that it is time to set the correction after a big decline of the yen. Short-term players are likely to take profits as soon as the yen stops falling," said Teppei Ino, a currency strategist at Bank of Tokyo-Mitsubishi UFJ.
"But then again, there's also a chance to expectations the Bank of Japan easing could keep the yen under pressure to Bank policy meeting," he added.
The bank is widely expected to heed the call of the prime-MinisterShinzo Abe to take 2 percent inflation target at its next meeting policy.
Expectations that Abe will push the Bank of Japan to take more drastic measures of monetary stimulus drove the yen sharply lower in recent months.
During peak hours on Friday, the dollar gained nearly 12 percent against the yen since the beginning of November, and traders said the rally was to be a pause.
"After 10-12 percent growth, it is bound to be some consolidation and shake-up could see a fall in the dollar to 84 yen," said Howard Jones, Partner, Financial Manager RMG Wealth Management in London.
"But any consolidation will be short-lived. From the macro point of view, with a huge change in policy takes place in Japan and the Government decided to drive the yen lower, you can not underestimate them. We look at the dollar hit 100 yen for the year."
The euro reached $ 1.3060, bringing us closer to a four-week low of $ 1.2998 hit last Friday.
But it can be supported at this time, as the European Central Bank is expected to keep interest rates on hold at its first policymeeting year, on Thursday, although some market participants believe that the bank can cut them some time in the coming months.
Against the yen, the euro was 115.08 yen, only less than one yen below 1 1/2-year high 115.995 yen.
In Asia, a large emphasis on Chinese trade data. Further signs of recovery in the Chinese economy could help the Australian dollar, as Australia seeks to benefit from China's demand for raw materials.
Aussie recently reached $ 1.0503, down slightly from the late U.S. levels, but still within reach of a three-week high of $ 1.0536 hit on Wednesday. Reuters.com
