US Stocks Rose, Steel Stocks Rose And Oil Prices Fell.

According to "Bloomberg" 07, 30, published in the article signed by Eric Martin, because the United States Steel

The stock market showed the biggest rise in 7 years, and the impact of falling oil prices again. On Tuesday, the US stock market showed an upward trend, thus making up for the downward trend of the previous day.

Steel Corp's share price rose by 14% after its quarterly net profit nearly doubled as its product price rose. This prompted the steel maker's stock market to show its biggest increase since 2002.

McDonald's Corp and General Motors

The company's share price also rose due to a drop of nearly $3 per barrel in crude oil prices.

Because Merrill Lynch Securities plans to sell $8 billion 500 million.

And liquidated $30 billion 600 million.

Such measures have helped analysts to speculate that Wall Street will solve the problem of subprime mortgage. Therefore, under the guidance of Bank of America and J.P. Morgan,

Stocks rose for the first time in four days.

The three largest stock index

The standard & Poor's 500 index rose 28.83 points to 1263.2 points, or 2.3%, starting to rebound from a low of 1.9% in the previous trading day. The Dow Jones industrial average rose 266.48 points to 11397.56 points, up to 2.4%, and fell by 2.1% on the previous day; the Nasdaq composite index rose by 55.4 points to 2319.62 points; on the New York stock exchange, the number of shares rose and the number of shares falling was more than that of the stock market.

Eric Green, senior fund manager of Penn capital management in New Jersey, said: "it is clear that the fall in oil prices has driven the stock market up.

You may feel strongly that the situation is already very bad and is going from bad to worse, but the change in the oil market is a great driving force for the market.

According to the data provided by Bloomberg, so far, the 255 quarter of the S & P 500 index has announced the second quarter.

3/4 of the company's profits exceed analysts' expectations.

Although the average profits of these companies fell by 23%, especially the average profits of financial companies fell by 90%, and the profits of companies that rely on consumption expenditure decreased by 33% on average, however, the average profits of other eight sectors of the S & P 500 index increased.

Us Steel Corp, the second largest steelmaker in the United States, gained $20.43 and closed at $165.76. The company's diluted net profit in the second quarter, excluding some items, was US $5.67, more than the average $14 expected by 14 analysts surveyed by Bloomberg.

The shares of AK, the fourth largest steel producer in the United States, rose 7.05 dollars to close at $57.37, or 14%, while the standard & Poor's 500 steel index rose by 9%, the biggest increase since October 2002.

Merrill Lynch shares rose 1.92 U.S. dollars to 26.25 U.S. dollars, or 7.9%.

The standard & Poor's 500 financial index rose 7.5% overall, the biggest gain in two weeks.

Lehman brothers shares rose 1.61 U.S. dollars, closing at 16.88 U.S. dollars, or 11%; Bank of America shares rose 4.16 dollars, to close at 32.22 U.S. dollars, or 15%; Morgan chase shares rose 3.09 U. S. dollars, to close at 40.75 U.S. dollars, or 8.2%.

In securities capital

Security Capital Assurance Ltd. agreed to pay $500 million in cash to Merrill Lynch to eliminate the $3 billion 700 million contract, and bond insurers' share prices also rose.

MBIA, the largest US bond insurer, rose 15% to $4.92, while MGIC investment shares rose 22% to $6.08.

On Tuesday, the fall in oil prices also stimulated the S & P 500 retail index to rise by 4%.

General Motors shares rose 90 cents to $11.90, or 8.2%, while U.S. airlines' parent AMR shares rose 1.48 to $9.48, or 19%.

On Tuesday, on the New York Mercantile Exchange, crude oil delivered in September

The price fell by $2.54, or 2%, at $122.19 a barrel.

So far, the appreciation of the US dollar has curbed people's investment in other commodities to resist inflation. The oil price has dropped by 17% compared with the highest level in July.

According to analysts surveyed by Bloomberg information, a report to be released tomorrow is likely to show that US gasoline reserves will continue to rise for fifth weeks.

Energy companies were the only fall in the S & P 500 index. The index fell 0.8% overall, of which ConocoPhillips fell 1.51 US dollars at 80.27 US dollars, or 1.9%.

Although a private report claims that housing prices in the 20 major cities of the United States are falling, it shows that the housing market, which has been weak for three years, has not yet been stabilized. However, the share price of some housing companies is still rising.