::U.S. Export Data Leads Wall Street to the Green Line>>

Go Finance Reporting in NEW YORK - Good news finally came after a Wall Street trading floor was embroiled in a cloud for a week.

As quoted by the Associated Press (AP), Friday (06/10/2011), reports that U.S. exports reached a record high in April, bringing the positive impact that makes the shares on Wall Street rose sharply. This is caused by investor optimism after a week of economic recovery is bleak economic progress.

The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to 12124.36 position. The broader Standard & Poor's 500 index rose 9.44 points, or 0.7 percent, to 1289.00. Nasdaq Composite Index rose 9.49 points, or 0.4 percent, to 2684.87.

This positive result to break the deadlock over the six days and marks the first time the stock rose in June. Shares have dropped following a bad report on manufacturing, home sales, recruitment and consumer confidence.

The decline during this week to make stock market appears relatively cheap. S & P 500 Index has lost 6.2 percent for six days.

"The movement of the market like a swinging pendulum. The decline was already quite strong, and current conditions you can easily predict that the market 'breathe'" said chief economist for JPMorgan Private Wealth Anthony Chan.

A shrinking trade deficit is a sign that the goods from U.S. manufacturers become more competitive in overseas markets. U.S. companies sell more computers, heavy machinery and telecommunications equipment overseas in April compared with the previous month. Meanwhile, imports decreased because fewer cars are purchased from Japan after a plant is damaged by the earthquake and tsunami disaster that struck the country.

Meanwhile, a report on unemployment benefit claims was in line with the expectation that new applications will be roughly the same. Labor Department reported that new jobless claims edged up 1,000 to 427 thousand. Economists expect the decline a bit. The high level of claims indicates that the job market is still slow.

Advertising companies, the Group of Cos. jumped 6.4 percent was recorded, most companies in the S & P 500 index, after ratings agency Moody's raised ratings on the company.

While the spike in oil prices has also made energy stocks higher. Energy companies in the S & P 500 index rose 1.2 percent. Crude oil rose $ 1, 19 to settle at USD101, 93.

The movement of shares have been slipping since mid-April as investors became worried that the U.S. economy has slowed. Rising oil prices, the Japanese tsunami and disaster risk nuclear and Greece might default on the debt has caused investors to lower their estimates for U.S. economic growth this year. Today, the consolidation of the trading volume was 3.5 billion shares. (GoFinance)