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Monday, November 22, 2010

U.S. stocks lifted by the Semiconductor closed up slightly Friday

Bank of China raised the deposit reserve ratio

* Dell and Marvell shares rose after the two companies report earnings

* The Dow closed up 0.2%, S & P 500 index rose 0.3%, Nasdaq index closed 0.2% higher

Reuters, New York, November 19 - --- U.S. stocks rose on Friday, semiconductor stocks rose as Marvell Technologies announced strong revenue performance to boost the sector, but the three major stock indexes held steady this week, as investors in the stock market fall After a short break up.

The three major indexes closed steady on Friday after the People's Bank of China announced that from November 29, the raised deposit-taking financial institutions of RMB deposit reserve ratio by 0.5 percentage points increase for the fifth time this year, but also the second month times increase.

S & P 500 Index slightly less than the psychologically important 1,200 points, analysts said that if the index failed to rise through 1,200 points and stand above the rest of the index at the time of the year will fall into a narrow trading range.

Volume was light, materials and technology stocks offset a rising stock market's decline earlier. In the Nasdaq, Marvell Technologies Group Ltd (MRVL.O: Quote) shares rose 6.1%, to $ 20.09 after the company announced higher revenue expected.

"Many semiconductor companies in inflation have shown a good economic environment, and we became more and more customers for the upcoming inflation Jiancang," Stifel Nicolaus, said Dave Lutz, Managing Director.

Robert W. Baird & Co investment strategist William Delwiche said that overall market sentiment indicators have become too bullish.

He expects the stock market into a range of callback or trading, "until the market optimism faded and the establishment of some of some of pessimism. By that time, the stock market that the Fed could support the economic policies, strong, driven by seasonal trends and other factors The typical year-end rally to clear the way. "

The Dow Jones industrial average rose 22.32 points, or 0.20%, to close at 11,203.55 points; Standard & Poor's 500 index rose 3.04 points, or 0.25%, at 1,199.73 points; Nasdaq index rose 3.72 points, or 0.15%, at 2,518.12 points.

S & P 500 Index in September and October rose about 13% of the total, the index accumulated in the past two weeks, fell about 2.1%, amid worries that China will tighten policy and debt issues in Europe uneasy. EU source Friday said that Ireland should support the banking problems of its financial aid program will be announced next week.

This week, the Dow edged up 0.1%, the S & P 500 index edged up 0.04%, Nasdaq index edged down 0.004%.

S & P 500 index earlier this week, 20-day moving average falls below a cut position, managed to rise through the levels on Friday, as a potential positive signals.

Marvell to help boost other semiconductor stocks, SanDisk (SNDK.O: Quote) rose 3.9%, to $ 39.98. semiconductor index rose 1.6%.

In the Nasdaq, Dell (DELL.O: Quote) closed up 1.7%, to $ 13.90 after the company raised its profit forecast.

General Motors (GM.N: Quote) fell 0.2%, to $ 34.26, before the company's initial public offering (IPO) record size. In addition, Harrah's Entertainment, said because of market conditions to stop its IPO plans.

New York Stock Exchange, American Stock Exchange and the Nasdaq market volume was about 6.86 billion shares traded, below last year's 9.65 billion daily average turnover of shares.

New York Stock Exchange stocks rose and fell at home, respectively 1,754:1,226, Nasdaq stock market's rise and fall respectively 1,461:1,179 home.

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